According to the findings of the Commission’s fitness check of the EU supervisory reporting requirements in the area of financial services, as presented on 7 November 2019, the existing supervisory reporting frameworks are effective in delivering necessary data.

Results however also show inconsistencies between reporting frameworks, which reduce the quality of data and increase the administrative burden for financial institutions. To improve the system, the fitness check suggests a comprehensive approach by the Commission and the relevant stakeholders to further streamline the requirements and develop a supervisory reporting that is fit for the future.

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