Nine in 10 EU banks reported flawed prudential data in Q2
Weeks after the quarter’s end, the ECB was still awaiting explanation on vast majority of data points flagged
Recent changes to European Union regulatory reporting have thrown data-gathering efforts into disarray, with almost nine in 10 banks submitting flawed second-quarter data to the European Central Bank.
Of the 117 institutions that submitted periodic supervisory data as of end-June, 101 (86%) failed to pass muster with the ECB’s validation rules on at least one point – the most since comparable data-quality benchmarks were first published in Q3 2017. In Q1, the number was 16, or less than 14% of
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