EBA final draft RTS on the implementation of the supervisory reporting framework under CRR

The European Banking Authority (EBA) has published a final report with draft implementing technical standards (ITS) on the implementation of international financial reporting standard (IFRS) 18 in supervisory financial reporting (FINREP) under the Capital Requirements Regulation (CRR). IFRS 18, which replaces International Accounting Standard (IAS) 1 and applies from 1 January 2027, introduces a new structure for statements of profit or loss. The final report sets out the amendments required to align FINREP with IFRS 18, including amended versions of the relevant reporting templates which can be found in the press release.

The EBA also published an opinion providing guidance on how institutions can report profit or loss information during the interim period between the first application date of IFRS 18 and the first application date of the amending ITS on the supervisory FINREP (which is currently under consultation until 10 July). While institutions must apply IFRS 18 in their public financial statements from 1 January 2027, the amended FINREP ITS incorporating IFRS 18 are expected to apply from the end of September 2027. To bridge this gap, the EBA advises competent authorities to allow institutions to use a set of IFRS 18-aligned FINREP templates on a voluntary basis during the interim period, thereby avoiding the operational burden of maintaining two different profit or loss reporting frameworks.

The data point model and the XBRL taxonomy based on the revised templates for the implementation of IFRS 18 will be published by the end of July, or at the latest at the beginning of September. The final report will be merged with the final report on the supervisory FINREP, which the EBA expects to submit to the European Commission by the end of the year.

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