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What’s new in Taxonomy 2.8 & when is it applicable?
COREP Taxonomy 2.8: What’s new?
The EBA's latest changes to the CRD IV reporting framework update, taxonomy version 2.8, is effective for reporting submission periods ending 31st December 2018 onwards and replaces the previous taxonomy (version 2.7).
Five new reporting templates:
There are five new reporting templates in the new 2.8 taxonomy released for COREP reporting periods ending 31st December 2018 onwards.
There is one entirely new module for ‘Resolution’ reporting, as well as two existing reports that are being replaced by two new reports each, these being:
- COREP Individual Own Funds and Leverage replaced by two reports:
o COREP Individual Own Funds; and
o COREP Individual Leverage Ratio
- COREP Consolidated Own Funds and Leverage replaced by two reports:
o COREP Consolidated Own Funds; and
o COREP Consolidated Leverage Ratio
The new COREP ‘Resolution’ module that is being introduced by the EBA will only apply to firms covered by the Recovery and Resolution Directive (RRD) legislation such as Banks and full scope investment firms. The RRD legislation requires plans to be drawn up that set out the actions to be taken for effective resolution in the event of future failures by an institution and the new report is designed to include data about a firms resolution planning.
See also COR001b COREP Return (Leverage Ratio)
Taxonomy 2.8 effective for reporting period ended 31st December 2018 onwards