4.3.2024 - Summary of minutes

Place: Microsoft Teams

Present: Officials of the Bank of Finland (BoF) and Financial Supervisory Authority (FIN-FSA). Industry representatives from the Savings Banks Group, OP Financial Group and Aktia.

1. Opening of the meeting

  • It was agreed that meetings future will primarily be held on Microsoft Teams, with a meeting from time to time at the Bank of Finland without a remote option

2. Current IReF issues

  • Reporters will be under an obligation to report and validate counterparty data in a common reporting portal
  • The file format for data exchange between IReF and the reporters will be xBRL-CSV
    • In this file format, the report itself is in the CSV format, but metadata consists of JSON data
  • Loan-by-loan data collection on natural persons is likely to take place
  • The ECB will publish a summary of the first matching notes and the IReF data model in April

3. Harmonisation of FINREP and IReF in cCBA analysis

  • There is consensus about the need of harmonisation of the contents but disagreement about the details
  • IReF requirements will be specified using Data Point Model (DPM) 2.0
  • The gross carrying amount attribute is will likely be included in the IReF