COREP/FINREP Filing
COREP/FINREP Filing
COREP and FINREP are two regulatory reporting frameworks used in the European Union for financial institutions, particularly banks and investment firms. They are part of the European Banking Authority's (EBA) harmonized reporting framework, which aims to standardize and enhance financial reporting practices across the EU.
- COREP reports are submitted at regular intervals (usually quarterly) and cover various aspects of the institution's balance sheet, risk-weighted assets, credit risk, market risk, operational risk, and more. The aim is to provide supervisory authorities with consistent and comparable data for monitoring and assessing the financial health and stability of financial institutions.
- FINREP reports include data on income, expenses, assets, liabilities, equity, and other comprehensive income. The goal is to ensure transparency and comparability of financial statements across EU financial institutions and to facilitate analysis by regulatory authorities and other stakeholders.
Gravity provides a comprehensive solution for financial institutions to comply with the COREP and FINREP reporting requirements, with the following critical features:
At the core of the solution is Gravity’s multidimensional financial data model (MDFM) which provides a single repository for all banking data, fully supporting the EBA DPM (Data Point Model).
There are two ways to import data into MDFM:
- Through data collection templates based on EBA Reporting Framework v3.3
- A direct Web services connection to the sources of the data. With a rules based system, data will be linked to MDFM.
Gravity MDFM supports multiple hypercubes for each EBA DMP template, including aggregation, pivoting, and drill down capability. This gives you a way to view and interact with your data that is unique in the market.
Gravity provides a comprehensive document management platform where users can create Pillar 3 Reporting. Gravity reporting provides a highly formatted and typeset presentation with text, tables, charts and images where all the data is linked to MDFM. Gravity supports multiple languages, so it is easy to produce a document in any language as well multiple languages from the same report. Gravity document management supports collaboration, data validation, audit trail, and workflow.
COREP and FINREP are two regulatory reporting frameworks used in the European Union for financial institutions, particularly banks and investment firms. They are part of the European Banking Authority's (EBA) harmonized reporting framework, which aims to standardize and enhance financial reporting practices across the EU.
- COREP reports are submitted at regular intervals (usually quarterly) and cover various aspects of the institution's balance sheet, risk-weighted assets, credit risk, market risk, operational risk, and more. The aim is to provide supervisory authorities with consistent and comparable data for monitoring and assessing the financial health and stability of financial institutions.
- FINREP reports include data on income, expenses, assets, liabilities, equity, and other comprehensive income. The goal is to ensure transparency and comparability of financial statements across EU financial institutions and to facilitate analysis by regulatory authorities and other stakeholders.
Gravity provides a comprehensive solution for financial institutions to comply with the COREP and FINREP reporting requirements, with the following critical features:
At the core of the solution is Gravity’s multidimensional financial data model (MDFM) which provides a single repository for all banking data, fully supporting the EBA DPM (Data Point Model).
There are two ways to import data into MDFM:
- Through data collection templates based on EBA Reporting Framework v3.3
- A direct Web services connection to the sources of the data. With a rules based system, data will be linked to MDFM.
Gravity MDFM supports multiple hypercubes for each EBA DMP template, including aggregation, pivoting, and drill down capability. This gives you a way to view and interact with your data that is unique in the market.
Gravity provides a comprehensive document management platform where users can create Pillar 3 Reporting. Gravity reporting provides a highly formatted and typeset presentation with text, tables, charts and images where all the data is linked to MDFM. Gravity supports multiple languages, so it is easy to produce a document in any language as well multiple languages from the same report. Gravity document management supports collaboration, data validation, audit trail, and workflow.