Corep and Finrep: data overload?

The start of Europe’s new risk reporting regime was delayed by the drawn-out legislative debate on CRD IV, but that hasn’t given the industry much more time to prepare. Technical detail was published in July, just five months ahead of the 2014 start date. Clive Davidson reports

Ask 28 people from different countries to sit in a room and describe, in their own languages, intricate details of their banking systems and, without a gifted linguist, even the most brilliant of financial minds will struggle to make sense of it. Ask everyone to communicate in a common language – say, English – and the points of similarity and difference will become much clearer; the problems easier to identify and to resolve.

That’s pretty much what has been happening with the reporting of