ECB announces milestones for integrated reporting framework implementation

The European Central Bank (ECB) announced the main milestones for the Eurosystem’s Integrated Reporting Framework (IReF) programme, which aims to harmonise statistical reporting across euro area banks.

The IReF will consolidate reporting requirements into a single standardised framework applicable to euro area banks and will support further data integration within the European Union (EU). The initiative aims to reduce the reporting burden on banks over time.

The key milestones include:

• A public consultation on the draft IReF Regulation planned for the second half of 2027, which will shape the final legislative proposal.
• A one-year pilot phase starting in the second quarter of 2030, during which reporting agents will test their ability to meet IReF data requirements.
• The first official IReF data reporting will begin in the second quarter of 2031, with an initial one-year parallel reporting phase alongside existing data reporting requirements.

The implementation plan, including methodological and technical details, is under preparation to ensure a smooth transition and address country-specific requirements. The IReF project is part of broader efforts to integrate statistical, prudential, and resolution reporting in the EU, coordinated by the Joint Bank Reporting Committee (JBRC). Preparatory work on a common data dictionary started in late 2025.