EIOPA and EBA publish Data Point Modelling Standard 2.0

Written by Jack Gray

16/06/2023

The European Insurance and Occupational Pensions Authority (EIOPA) and the European Banking Authority (EBA) have published the Data Point Modelling (DPM) Standard 2.0, which aims to foster collaboration and harmonisation in the field of supervisory reporting.

The authorities stated that the new standard significantly enhances and evolves the current standard, which is a key component of the EBA and EIOPA’s data holdings and their reporting frameworks.

Enhancing the DPM Standard was a response to the challenges of increased volume, granularity and complexity of the data, and aims to lay the foundation for a “robust and future-proof” data dictionary, supported by adequate management tools.

The Solvency II Directive and the Pan-European Personal Pension Product (PEPP) Regulation require EIOPA to develop draft implementing technical standards to specify the standardised reporting formats and templates, the instructions and methodology on how to use those templates, the frequency and dates of reporting, the definitions and the IT solutions for the reporting requirements specified in the same legal texts.

DPM models are used by the authorities to produce data exchange specifications in the format of XBRL Taxonomy.

The new DPM supports the entire reporting lifecycle, from data definition to data exploration, and looks to benefit from stronger collaboration and increased harmonisation, while also improving the digital processing of regulatory data required by the authorities.

Over the past decade, the DPM methodology has supported the EBA and EIOPA in integrating their regulatory reporting frameworks.

According to the authorities, the new DPM Standard should play a key role in the construction of a single, cross-sectoral data dictionary in the longer term.

“By providing a consistent approach for modelling reporting requirements, the standard should facilitate the future integration of concepts and definitions (semantic integration) in a common data dictionary,” the authorities stated.

“As the work progresses, the EBA and EIOPA will share more information on next steps and organise specific events.”

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