EIOPA, EBA and ECB create framework for collaboration on DPM 2.0 standard

Written by Natalie Tuck

17/04/2024

The European Insurance and Occupational Pensions Authority (EIOPA), the European Banking Authority (EBA) and the European Central Bank (ECB) have set up an alliance for common governance and collaboration in developing and maintaining the Data Point Model (DPM) Standards.

The DPM alliance was established through a Memorandum of Understanding that was signed by EIOPA, the EBA and the ECB to foster harmonisation among the organisations.

"This alliance aims at ensuring consistent methodology for modelling reporting requirements, the common metamodel used for populating the reporting requirements and the associated documentation," the organisations stated.

Following the publication by EIOPA and the EBA of the DPM standard 2.0 in June 2023, the two ESAs together with the ECB have agreed on the common arrangements that will govern their cooperation beyond the DPM standard 2.0.

The DPM alliance seeks to facilitate the definition and exchange of regulatory data within the financial sector; increase efficiencies and avoid duplication of efforts; and promote more efficient processes for defining and communicating reporting requirements as well as for collecting and exchanging data and metadata amongst reporting entities, national authorities and European authorities.

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