Présentation M. Le Guern et M. Djelid

Événement

France & Austria: exploring different paths to maximized value-creation in regulatory reporting

Présentation

In recent years, compliance obligations for banks have multiplied. In most countries, the current regulatory reporting model in Europe is imperfect. While greater improvement and harmonization of reporting process in Europe’s financial services sector are necessary, the current methodology does not enable the speed needed for accurate and prudential supervision. And the banks themselves derive no profit from the huge effort they devote to those activities. Going forward, via initiatives such as AnaCredit and BIRD, national regulators (ex: Banque de France and its Data Lake project), European regulators and financial institutions will set new regulatory data-exchange mechanisms in order to increase the quality and added-value of the data in question. Austria is a pioneer with its new approach based on granular modular data gathering. It uses AuRep, a software platform that bridges the gap between the IT systems of the country’s central bank, the OeNB, and the country’s main banks. This platform mutualizes high-quality data from 800 Austrian banks (the “world’s largest regulatory reporting factory”), and houses it in case of regulator inspection. Finally, it enables significant economies of scale for all stakeholders. This workshop, whose speakers are Dr Maciej Piechocki, Partner at Bearingpoint, Dr Johannes Turner, Director General of Statistics at the OeNB in Austria and Jacques Fournier, Director General of Statistics at the Banque de France, will highlight the main issues to be considered in adopting new approaches to regulatory reporting that focus on value creation. Our speakers will each describe the breakthroughs in their respective projects, notably the business, technical and financial benefits that underlie each approach, resulting from a close collaboration between regulators and regulated entities.

Objectifs

  • Identify the major issues affecting regulatory reporting systems in the context of heightened European regulation
  • Gain insight into the Austrian ‘coopetition’ model that brings together the national central bank and competing commercial banks operating in Austria
  • Analyze the drivers behind the convergence that has successfully aligned the interests of the Austrian banks and their national supervisor, and the relevance of this approach for the rest of Europe
  • Discover the breaththroughs of the Banque de France Data Lake project

Programme

8h30
Welcome address
8h40-9h00
In search of a regulatory reporting system that is ‘useful’ and economical
9h00-9h30
Lessons to be learned from the Austrian AuRep approach ?
  • Description of the project
  • Pros/cons
  • Establishing convergence and consensus between stakeholders
  • Managing the transition
9h30-10h00
Regulatory reporting à la française : the Banque de France Data Lake • Description of the project
  • Description of the project
  • Hurdles/breakthroughs
10h00-10h20
Towards what type of regulatory reporting framework should we be heading?
  • Current challenges and business impacts
  • Recommendations for a regulatory reporting framework that creates value
10h20-10h45
Question/Answers
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