Check the requirements for reporting COREP and FINREP to supervisors, including validation and filing rules.
COR015 – how to report a nil return
To report a nil return, firms must upload a file without any facts, but which contains at least 1 positive filing indicator.
Download a sample nil return file (XBRL 0.78 KB)[1].
Before uploading the file into RegData, firms must amend the following details, by opening the file in Notepad:
- Replace ‘123456’ with your Firm Reference Number:
<xbrli:identifier scheme="http://www.fca.org.uk/register">123456</xbrli:identifier> - Replace ‘YYYY-MM-DD’ with the period end date of the respective COR015 data item on your reporting schedule, in the format requested:
<xbrli:instant>YYYY-MM-DD</xbrli:instant>
After you make the changes above, save the file as an XBRL file and upload it to RegData.
Processing may take a few minutes.
Once the status shows as ‘Ready to submit’, you can submit the data item, which is captured as a nil return.
Taxonomy implementations
As per CP5/21 and PS17/21[2], and finalised in PS22/21[3], we have implemented the EBA Taxonomy 3.0 for firms to use from 1 January 2022, as directed by the PRA. Firms should be using this taxonomy to meet the reporting requirements set out in the PS17/21. Any future changes to CRR reporting requirements will be subject to PRA public consultation process, as set out in FSMA.
We have implemented EBA Taxonomy 2.10 for COR013 resolution reporting. Any future changes to BRRD reporting requirements will also be subject to PRA public consultation process.
Changes to validation rules are released periodically by the EBA. We will implement any validation changes that relate to EBA Taxonomy 3.0 or previous taxonomy versions, for as long as these packages are used to meet reporting requirements.
Subsequent EBA taxonomies should only be implemented by firms if indicated during the PRA public consultation process for future reporting changes.
EBA validation rules and filing rules
We implement the Validation Rules and Filing Rules as specified by the EBA within each of their Reporting Frameworks[4]. Severities are translated as follows:
- EBA Blocking rules are set to ERROR in RegData (ie rejection of the file).
- EBA Non-blocking rules are set to WARNING (warnings will be accepted, but firms should look to investigate the cause and resolve them for future submissions).
- EBA Deactivated rules are set to DISABLED (ignored).
Data point model and taxonomy
To ensure the supervisory reporting requirements are implemented consistently, the templates described in the annexes have been translated into a data point model (DPM), which in turn is used to generate the taxonomy.
The DPM is a structured representation of the data, identifying all the business concepts and its relationships, as well as validation rules. The taxonomy is the vehicle that enables data to be shared in line with the DPM structure.
These are artefacts that were originally developed by the EBA and, along with the accompanying documentation, contain the relevant technical specifications necessary for developing an IT reporting solution. Firms should make sure they keep up to date with any changes to these artefacts.
Taxonomy entry point mapping to RegData
The entry point mapping spreadsheet (XLS)[5] maps individual entry points to the corresponding RegData[6] data item and reporting basis.
Technical pack
For information on how to build a connection to the RegData direct submission gateway for COREP and FINREP reporting, and how to format an XBRL instance for both direct submission and web upload, please refer to our updated technical information page.
