Commission Implementing Regulation (EU) 2021/622 of 15 April 2021 laying down implementing technical standards for the application of Directive 2014/59/EU of the European Parliament and of the Council with regard to uniform reporting templates, instructions and methodology for reporting on the minimum requirement for own funds and eligible liabilities (Text with EEA relevance)

• CELEX: Implementing Regulation (EU) 2021/622
• Articles: 10

Article 1 Information to be transmitted to the EBA

Resolution authorities, in coordination with competent authorities, shall transmit to the EBA the information specified in the templates set out in Annexes I and II to this Regulation relating to the setting of MREL in accordance with Articles 45 to 45h and Article 45m of Directive 2014/59/EU.

Article 2 Simplified reporting requirement for institutions subject to waivers and for institutions for which the recapitalisation amount is zero

1.   For institutions for which the application of the MREL has been waived pursuant to Article 45f(3), Article 45f(4) or Article 45g of Directive 2014/59/EU, resolution authorities shall only transmit to the EBA the information specified in columns 0010 to 0100 and 0270 of Annex I to this Regulation.

2.   For institutions for which the recapitalisation amount set in accordance with Article 45c(2) of Directive 2014/59/EU is zero, and where no adjustments to the loss absorption amount in accordance with that paragraph are made, resolution authorities shall only transmit to the EBA the information specified in columns 0010 to 0080 and 0270 of Annex I to this Regulation.

Article 3 Reporting authority and information to be reported for groups

For groups that are subject to MREL on a consolidated basis in accordance with Article 45e, Article 45f(1), third subparagraph, and Article 45f(4), point (b), of Directive 2014/59/EU, the information referred to in Articles 1 and 2 shall be submitted by the following authorities and in the following manner:

(a)

the group-level resolution authority, in coordination with the group level supervisory authority, shall inform the EBA of the MREL of the Union parent undertaking set on a consolidated basis;

(b)

the resolution authorities taking the decisions setting the MREL, in coordination with the competent authority, shall inform the EBA of the MREL to be applied to the group subsidiaries under their jurisdiction at the resolution group consolidated level and on an individual basis as applicable.

Article 4 Reporting periods and submission dates

Resolution authorities shall, by 31 May of each year, transmit the information referred to in Articles 1 and 2 for the MREL applicable as of 1 May of that year.

Article 5 Data exchange formats and information accompanying submissions

1.   Resolution authorities shall submit the information referred to in Articles 1 and 2 in the data exchange format and in accordance with the technical specifications and representations of the EBA’s reporting system (EUCLID).

2.   When submitting the information referred to in Articles 1 and 2, resolution authorities shall respect the data point definitions of the data point model and the validation rules laid down in Annex III as well as the following specifications:

(a)

information that is not required or not applicable shall not be included in a data submission;

(b)

numerical values shall be submitted as follows:

(i)

data points of the data type ‘Monetary’ shall be reported using a minimum precision equivalent to thousands of units;

(ii)

data points of the data type ‘Percentage’ shall be expressed as per unit with a minimum precision equivalent to four decimal places;

(iii)

data points of the data type ‘Integer’ shall be reported using no decimal places and a precision equivalent to units;

(c)

institutions, insurance undertakings and legal entities shall be identified by their Legal Entity Identifier (LEI), where available.

Article 6 Repeal

Implementing Regulation (EU) 2018/308 is hereby repealed.

Article 7 Entry into force

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union .

Schedules & Appendices

ANNEX I

ANNEX I

M 20.00 - Reporting of MREL decisions

INSTITUTION

ENTITY CODE

TYPE OF CODE

RESOLUTION ENTITY CODE

TYPE OF CODE

CONSOLIDATION PERIMETER

TYPE OF INSTITUTION

INTERNAL OR EXTERNAL MREL

SIMPLIFIED REPORTING

WAIVER

REASON FOR WAIVER

RESOLUTION STRATEGY AND TOOLS

RESOLUTION STRATEGY

MAIN RESOLUTION TOOL (PREFERRED STRATEGY )

SECOND RESOLUTION TOOL (PREFERRED STRATEGY )

MAIN RESOLUTION TOOL (VARIANT STRATEGY)

SECOND RESOLUTION TOOL (VARIANT STRATEGY)

0010

0020

0030

0040

0050

0060

0070

0080

0090

0100

0110

0120

0130

0140

0150

INSTITUTION

BALANCE SHEET DATA USED TO CALIBRATE MREL

ADDITIONAL OWN FUNDS REQUIREMENT AND COMBINED BUFFER REQUIREMENT

REFERENCE DATE

BEFORE RESOLUTON

AFTER RESOLUTON

REFERENCE DATE

ADDITIONAL OWN FUNDS REQUIREMENT AS % OF TREA

COMBINED BUFFER REQUIREMENT

OF WHICH: COUNTERCYCLICAL CAPITAL BUFFER

TREA

TLOF

TEM

TREA

TLOF

TEM

0160

0170

0180

0190

0200

0210

0220

0230

0240

0250

0260

MREL DECISION

DECISION DATE

COMPLIANCE DATE

REQUIREMENT AS % OF TREA

OF WHICH: MAY BE MET WITH GUARANTEES

REQUIREMENT AS % OF TEM

OF WHICH: MAY BE MET WITH GUARANTEES

TOTAL SUBORDINATION AS % OF TREA

TOTAL SUBORDINATION AS % OF TEM

SENIOR DEBT ALLOWANCE

DE MINIMIS ALLOWANCE

MANDATORY SUBORDINATION REQUIREMENT

DISCRETIONARY SUBORDINATION REQUIREMENT

MANDATORY SUBORDINATION REQUIREMENT

DISCRETIONARY SUBORDINATION REQUIREMENT

0270

0280

0290

0300

0310

0320

0330

0340

0350

0360

0370

0380

ADJUSTMENTS

TRANSITION PERIOD

ADJUSTMENTS FOR CALIBRATING THE LOSS ABSORBING AMOUNT

ADJUSTMENTS FOR CALIBRATING THE RECAPITALISATION AMOUNT AS % OF TREA

ADJUSTMENTS FOR CALIBRATING THE RECAPITALISATION AMOUNT AS % OF TEM

INTERMEDIATE TARGET

ADJUSTMENTS TO ADDITIONAL OWN FUNDS REQUIREMENT

ADJUSTMENTS TO MARKET CONFIDENCE BUFFER

ADJUSTMENTS RESULTING FROM CHANGE IN THE BALANCE SHEET POST RESOLUTION

ADJUSTMENTS RESULTING FROM CHANGE IN THE BALANCE SHEET POST RESOLUTION

AS A % OF TREA

AS A % OF TEM

AS % OF TREA

AS % OF TEM

UPWARD

DOWNWARD

UPWARD

DOWNWARD

UPWARD

DOWNWARD

UPWARD

DOWNWARD

MREL LEVEL

SUBORDINATION

DATE OF APPLICATION

MREL LEVEL

SUBORDINATION

DATE OF APPLICATION

0390

0400

0410

0420

0430

0440

0450

0460

0470

0480

0490

0500

0510

0520

0530

0540

ANNEX II INSTRUCTIONS FOR COMPLETING REPORTING ON MREL DECISIONS

ANNEX II

INSTRUCTIONS FOR COMPLETING REPORTING ON MREL DECISIONS

PART I

GENERAL INSTRUCTIONS

1.

This Annex covers the instructions for reporting in accordance with Article 45j of Directive 2014/59/EU on the minimum requirement for own funds and eligible liabilities (MREL) set by the resolution authorities.

2.

Each resolution authority, in coordination with competent authorities, shall inform the EBA of the MREL set for each institution under its jurisdiction. With regard to resolution groups, the group-level resolution authority shall transmit the relevant information for the Union parent undertaking on a consolidated basis. Each resolution authority shall transmit the information regarding the MREL set in relation to resolution groups and subsidiaries.

3.

For groups established or having subsidiaries within the banking union, the Single Resolution Board will report on decisions taken in relation to all entities falling under its jurisdiction as defined in Article 7(2) of Regulation (EU) No 806/2014 of the European Parliament and of the Council  ( 1 ) .

4.

Where the underlying data are in a currency other than euro, the authorities shall use European Central Bank euro foreign exchange reference rates (https://www.ecb.europa.eu/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/index.en.html) as at the date of the MREL decision and report all amounts in euro.

5.

Where an institution has been exempted from MREL, this shall be indicated in column 0090, and the resolution authority can opt for simplified reporting with only reporting the information in columns 0010 to 0100. Where an institution is subject to a zero recapitalisation amount and no adjustment is made to the loss-absorption amount, the resolution authority can opt for simplified reporting and report only the information in columns 0010 to 0080.

1.    Scope of the notification

6.

Institutions (including investment firms, as defined in Article 2(1), point (23), of Directive 2014/59/EU) and entities referred to in Article 1(1), points (b), (c) and (d), of Directive 2014/59/EU that are subject to Article 45(1) of that Directive, except mortgage credit institutions financed by covered bonds that are exempted from the MREL in accordance with Article 45a of Directive 2014/59/EU.

2.    Scope of consolidation

7.

The underlying data shall be reported on an individual basis for each entity within each Member State, or at the level of any of the following:

(a)

the Union parent undertaking on a consolidated basis, where the perimeter of consolidation for the Union parent undertaking is identical to the perimeter of consolidation of the resolution group;

(b)

where different from point (a), for each resolution entity at resolution group consolidated level in accordance with Article 45e of Directive 2014/59/EU;

(c)

where applicable, for a parent undertaking on a consolidated basis in accordance with Article 45f(4) point (b), of Directive 2014/59/EU or the third subparagraph of Article 45f(1) of that Directive.

3.    Deadline for submission

8.

Resolution authorities shall transmit the information for the MREL applicable at 1 May of each year by 31 May of that year.

PART II

TEMPLATE-RELATED INSTRUCTIONS

4.    M 20.00 – Reporting on MREL decisions

4.1.   Instructions concerning specific columns

Column

Legal references and instructions

0010

ENTITY CODE

Code of the entity for which the MREL decision has been made. For institutions, the code shall be the 20-digit, alphanumerical legal entity identifier (LEI) code. For other entities, the code shall be the 20-digit, alphanumerical LEI code, or where not available a code under a uniform codification applicable in the Union, or where not available a national code.

The code shall be consistent with the code reported for the same institution under Commission Implementing Regulation (EU) 2018/1624  ( 2 ) . The code shall always have a value. That code shall be the unique identifier for each column for the relevant entity.

0020

TYPE OF CODE

The reporting authority shall identify the type of code reported in column 0010 as an ‘LEI code’ or ‘Non-LEI code’. The type of code shall always be reported.

0030

RESOLUTION ENTITY CODE

Code of the resolution entity to which the entity belongs. This code shall be the same as in the column 0010 if the decision reported is a group decision. For institutions, the code shall be the 20-digit, alphanumerical LEI code. For other entities, the code shall be the 20-digit, alphanumerical LEI code, or where not available a code under a uniform codification applicable in the Union, or where not available a national code.

The code shall be consistent with the code reported for the same institution under Implementing Regulation (EU) 2018/1624.

0040

TYPE OF CODE

The reporting authority shall identify the type of code reported in column 0030 as an ‘LEI code’ or ‘Non-LEI code’. The type of code shall always be reported.

0050

CONSOLIDATION PERIMETER

Reporting authorities shall report on the MREL at one of the following perimeters of consolidation:

(a)

resolution group;

(b)

consolidated at the level of the parent undertaking in accordance with Article 45f(4), point (b), or the third subparagraph of Article 45f(1) of Directive 2014/59/EU;

(c)

individual.

0060

TYPE OF INSTITUTION

Reporting authorities shall report one of the following:

(a)

global systemically important institution (G-SII) as defined in Article 4(1), point (133), of Regulation (EU) No 575/2013 of the European Parliament and of the Council  ( 3 ) ;

(b)

resolution entity as referred to in Article 45c(5) of Directive 2014/59/EU that is part of a resolution group the total assets of which exceed EUR 100 billion at resolution group level;

(c)

resolution entity as referred to in Article 45c(6) of Directive 2014/59/EU that is part of a resolution group the total assets of which are lower than EUR 100 billion and which the resolution authority has assessed as reasonably likely to pose a systemic risk in the event of its failure;

(d)

other credit institution;

(e)

investment firm;

(f)

any other entity referred to in Article 1(1), points (b), (c) or (d), of Directive 2014/59/EU.

0070

INTERNAL OR EXTERNAL

Reporting authorities shall report one of the following:

(a)

internal: MREL applied to entities that are not themselves resolution entities pursuant to Article 45f of Directive 2014/59/EU or resolution entities as referred to in the fourth subparagraph of Article 45f(1) of that Directive that are not subject to Article 45e(3) of that Directive.

(b)

external: MREL applied to entities that are resolution entities pursuant to Article 45e of Directive 2014/59/EU.

0080

SIMPLIFIED REPORTING

Reporting authorities shall indicate whether simplified reporting for institutions for which the recapitalisation amount is zero and where no adjustment to the loss-absorbing amount has been made is applied:

—

Yes

—

No

0090

WAIVER

Reporting authorities shall indicate whether the waiver was granted on the basis of the following provisions of Directive 2014/59/EU or whether no waiver was granted:

(a)

Article 45f(3);

(b)

Article 45f(4);

(c)

Article 45g;

(d)

No waiver.

0100

REASON FOR WAIVER

Where an option other than ‘No’ has been reported in column 0090, reporting authorities shall describe the reason for applying the waiver.

0110–0150

RESOLUTION STRATEGY AND TOOLS

0110

RESOLUTION STRATEGY

Reporting authorities shall report one of the following:

(a)

single point of entry;

(b)

multiple point of entry;

(c)

liquidation.

0120

MAIN RESOLUTION TOOL (PREFERRED STRATEGY)

Reporting authorities shall report one of the following:

(a)

open bank bail-in;

(b)

bridge institution;

(c)

asset separation;

(d)

sale of business;

(e)

N/A.

Where column 0110 was reported as ‘liquidation’, column 0120 shall be reported as N/A.

00130

SECOND RESOLUTION TOOL (PREFERRED STRATEGY)

Reporting authorities shall report one of the following:

(a)

open bank bail-in;

(b)

bridge institution;

(c)

asset separation;

(d)

sale of business;

(e)

N/A.

Where column 0110 was reported as ‘liquidation’ or where no alternative strategy has been set, this column shall be reported as N/A.

0140

MAIN RESOLUTION TOOL (VARIANT STRATEGY)

Reporting authorities shall report one of the following (where applicable):

(a)

open bank bail-in;

(b)

bridge institution;

(c)

asset separation;

(d)

sale of business;

(e)

N/A.

Where column 0110 was reported as ‘liquidation’, this column shall be reported as N/A.

0150

SECOND RESOLUTION TOOL (VARIANT STRATEGY)

Reporting authorities shall report one of the following:

(a)

open bank bail-in;

(b)

bridge institution;

(c)

asset separation;

(d)

sale of business;

(e)

N/A.

Where column 0110 was reported as ‘liquidation’, or where no alternative strategy has been set, this column shall be reported as N/A.

0160–0190

ADDITIONAL OWN FUNDS REQUIREMENT AND COMBINED BUFFER REQUIREMENT

The information on the additional own funds requirement pursuant to Article 104a of Directive 2013/36/EU of the European Parliament and of the Council  ( 4 ) used as an input for calibrating MREL shall be based on the latest available own funds requirements communicated by the competent authority at the time of the calibration of MREL.

0160

REFERENCE DATE

The date when the competent authority communicated the additional own funds requirements and combined buffer requirement to the institution.

0170

REQUIREMENT AS A PERCENTAGE OF TOTAL RISK EXPOSURE AMOUNT (TREA)

Additional own funds requirement pursuant to Article 104a of Directive 2013/36/EU used to calibrate MREL or as estimated in accordance with regulatory technical standards adopted under Article 45c(4) of Directive 2014/59/EU.

0180

COMBINED BUFFER REQUIREMENT

Combined buffer requirement referred to in Article 128(1), point (6), of Directive 2013/36/EU. The amount reported shall represent the amount of own funds needed to fulfil the respective capital buffer requirements or as estimated in accordance with the regulatory technical standards adopted under Article 45c(4) of Directive 2014/59/EU.

0190

OF WHICH: COUNTERCYCLICAL CAPITAL BUFFER

Article 128, point (2), Article 130 and Articles 135 to 140 of Directive 2013/36/EU. The amount reported shall represent the amount of own funds needed to fulfil the respective capital buffer requirements used to calibrate MREL.

0200–0260

BALANCE SHEET DATA USED TO CALIBRATE MREL

0200

REFERENCE DATE

Reference date of the data reported in columns 0210 to 0260.

0210–0230

BEFORE RESOLUTION

Balance sheet data used to calibrate MREL before resolution.

0240–0260

AFTER RESOLUTION

Balance sheet data used to calibrate MREL after resolution.

0210 , 0240

TREA

Total risk exposure amount in accordance with Article 45(2), point (a), of Directive 2014/59/EU and Article 92(3) of Regulation (EU) No 575/2013.

0220, 0250

TOTAL LIABILITIES AND OWN FUNDS (TLOF)

Sum of all liabilities and own funds of the reporting entity. With respect to derivatives, the value to be used shall be the sum of net liability positions, taking into account prudential netting rules.

This item corresponds to the information reported in row 0600 of template Z 02.00 of Annex I to Implementing Regulation (EU) 2018/1624.

0230, 0260

TOTAL EXPOSURE MEASURE (TEM)

Total exposure measure in accordance with Article 45(2), point (b) of Directive 2014/59/EU, Article 429(4) and Article 429a of Regulation (EU) No 575/2013.

0270–0380

MREL DECISION

0270

DECISION DATE

Date when the resolution authority decided on the MREL or adopted a waiver decision.

0280

COMPLIANCE DATE

Date from when the institution shall comply with the MREL or waiver decision.

0290

REQUIREMENT AS A PERECENTAGE OF TREA

Reporting authorities shall report MREL expressed as a percentage of TREA calculated in accordance with Article 92(3) of Regulation (EU) No 575/2013.

0300

OF WHICH: MAY BE MET WITH GUARANTEES

The part of the requirement reported in column 0290 that upon permission of the relevant resolution authority may be met with a guarantee provided by the resolution entity in accordance with Article 45f(5) of Directive 2014/59/EU, expressed as a percentage of TREA calculated in accordance with Article 92(3) of Regulation (EU) No 575/2013.

0310

REQUIREMENT AS A PERCENTAGE OF TEM

The entity’s MREL expressed as a percentage of TEM calculated in accordance with Article 429(4) and Article 429a of Regulation (EU) No 575/2013.

0320

OF WHICH: MAY BE MET WITH GUARANTEES

The part of the requirement reported in column 0310 that upon permission of the relevant resolution authority may be met with a guarantee provided by the resolution entity in accordance with Article 45f(5) of Directive 2014/59/EU, expressed as a percentage of TEM calculated in accordance with Article 429(4) and Article 429a of Regulation (EU) No 575/2013.

0330–0340

TOTAL SUBORDINATION AS A PERCENTAGE OF TREA

Reporting authorities shall report the subordination requirement levels expressed as a percentage of TREA (100 % for internal MREL).

0350–0360

TOTAL SUBORDINATION AS A PERCENTAGE OF TEM

Reporting authorities shall report the subordination requirement levels expressed as a percentage of TEM (100 % for internal MREL).

0330, 0350

MANDATORY SUBORDINATION REQUIREMENT

Reporting authorities shall report the subordination requirement levels in accordance with Article 45c, paragraphs (5) and (6), and Article 45d(2), point (a), of Directive 2014/59/EU, including any impact from the application of Article 45b(4) of Directive 2014/59/EU.

0340, 0360

DISCRETIONARY SUBORDINATION REQUIREMENT

Reporting authorities shall report the subordination requirement levels in accordance with Articles 45b, paragraphs (5) or (7) of Directive 2014/59/EU.

0370

SENIOR DEBT ALLOWANCE

For G-SIIs, reporting authorities shall report the share of liabilities allowed to qualify as eligible liabilities instruments up to an aggregate amount that does not exceed 3,5 % of the TREA calculated in accordance with Article 92, paragraphs (3) and (4) of Regulation (EU) No 575/2013.

0380

DE MINIMIS ALLOWANCE

For GSIIs, reporting authorities shall report the share of excluded liabilities referred to in Article 72a(2) of Regulation (EU) No 575/2013 which are allowed to rank in insolvency pari passu or below eligible liabilities of the institution in accordance with Article 72b(4) of Regulation (EU) No 575/2013.

0390–0480

ADJUSTMENTS

0390–0400

ADJUSTMENTS FOR CALIBRATING THE LOSS-ABSORPTION AMOUNT AS PERCENTAGES OF TREA AND TEM

Adjustments to the loss absorbing amount pursuant to the second subparagraph of Article 45c(2) of Directive 2014/59/EU expressed as a percentage of TREA and TEM.

0410–0460

ADJUSTMENTS FOR CALIBRATING THE RECAPITALISATION AMOUNT AS A PERCENTAGE OF TREA

Adjustments to the recapitalisation amount pursuant to Article 45c(3), first subparagraph, point (a)(ii) or Article 45c(7), first subparagraph, point (a)(ii), of Directive 2014/59/EU expressed as a percentage of TREA.

0410–0420

ADJUSTEMENTS TO ADDITIONAL OWN FUNDS REQUIREMENT

Input any adjustment to additional own funds requirement referred to in Article 104a of Directive 2013/36/EU pursuant to, Article 45c(3), fifth subparagraph, point (b), or Article 45c(7), fifth subparagraph, point (b), of Directive 2014/59/EU.

0430–0440

ADJUSTMENTS RELATED TO MARKET CONFIDENCE BUFFER

Adjustments pursuant to Article 45c(3), sixth subparagraph, or Article 45c(7), sixth subparagraph, of Directive 2014/59/EU.

0450–0460

ADJUSTMENTS RESULTING FROM CHANGE IN THE BALANCE SHEET POST RESOLUTION

Adjustments pursuant to Article 45c(3), fifth subparagraph, point (а), or 45c(7), fifth subparagraph, point (a), of Directive 2014/59/EU.

0470–0480

ADJUSTMENTS FOR CALIBRATING THE RECAPITALISATION AMOUNT AS A PERCENTAGE OF TEM

Adjustments to the recapitalisation amount resulting from changes in the balance sheet post resolution pursuant to of Article 45c(3), first subparagraph, point (b)(ii), or of Article 45c(7), first subparagraph, point (b)(ii), of Directive 2014/59/EU expressed as a percentage of the total exposure amount.

0410 , 0430, 0450, 0470

UPWARDS

0420, 0440, 0460, 0480

DOWNWARDS

0490–0540

TRANSITION PERIOD

Reporting authorities shall indicate any intermediary target they may have set for the years after the reporting date. The target shall be expressed both as a percentage of TREA and as a percentage of TEM.

0490, 0520

MREL LEVEL

Reporting authorities shall indicate the total MREL level institutions shall meet at the intermediary date.

0500, 0530

SUBORDINATION

Reporting authorities shall indicate the total subordinated level institutions shall meet at the intermediary date.

0510 , 0540

DATE OF APPLICATION

Reporting authorities shall indicate the transition dates of the path to MREL compliance.

( 1 )   Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010 ( OJ L 225, 30.7.2014, p. 1 ).

( 2 )   Commission Implementing Regulation (EU) 2018/1624 of 23 October 2018 laying down implementing technical standards with regard to procedures and standard forms and templates for the provision of information for the purposes of resolution plans for credit institutions and investment firms pursuant to Directive 2014/59/EU of the European Parliament and of the Council, and repealing Commission Implementing Regulation (EU) 2016/1066 ( OJ L 277, 7.11.2018, p. 1 ).

( 3 )   Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 ( OJ L 176, 27.6.2013, p. 1 ).

( 4 )   Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC ( OJ L 176, 27.6.2013, p. 338 ).

ANNEX III Single Data Point Model and Validation Rules

ANNEX III

Single Data Point Model and Validation Rules

PART ONE

Single Data Point Model

All data items set out in the Annexes I and II shall be transformed into a single data point model which is the basis for uniform IT systems of resolution authorities.

The single data point model shall meet the following criteria:

(a)

provide a structured representation of all data items set out in Annexes I and II;

(b)

identify all the business concepts set out in Annexes I and II;

(c)

provide a data dictionary identifying table labels, ordinate labels, axis labels, domain labels, dimension labels and member labels;

(d)

provide metrics which define the property or amount of data points;

(e)

provide data point definitions that are expressed as a composition of characteristics that univocally identify the financial concept;

(f)

contain all the relevant technical specifications necessary for developing IT reporting solutions producing uniform resolution reporting.

PART TWO

Validation Rules

The data items set out in Annexes I and II shall be subject to validation rules ensuring data quality and consistency.

The validation rules shall meet the following criteria:

(a)

determine the logical relationships between relevant data points;

(b)

contain filters and preconditions that determine a set of data to which a validation rule applies;

(c)

check the consistency of the reported data;

(d)

check the accuracy of the reported data;

(e)

set default values that shall be applied where the relevant information has not been reported.