SRB launched sector consultation on data needed for valuation
On 19 May 2020, the Single Resolution Board (SRB) launched a public consultation on a standardised data framework (“SRB Valuation Data Set”) to ensure a uniform minimum level for data collected from credit institutions to support a robust valuation for resolution.
The data set does not impose any regular reporting obligations; it is rather a tool that defines expectations for credit institutions concerning information necessary to perform an independent valuation. The purpose of the hearing is to strengthen the SRB’s commitment to engage with and consult the industry and to develop the consistency of methods of collecting data required in valuation within the Banking Union.
The consultation consists of two documents.
- The “SRB Valuation Data Set instructions” document defines the SRB Valuation Data Set and establishes the expectations for data needed in valuation. In order to ensure uniform application practices, the document describes the definitions of the data fields in as much detail as possible.
- The “Explanatory note” document defines the requirements for the capability of credit institutions’ management information systems (MIS) to produce adequately timely and detailed information required in valuation.
The response period ended on 30 June 2020.
FFSA Resolution Expert Pekka Kainulainen ([email protected])