ECB announces milestones for integrated reporting framework rollout

The European Central Bank (ECB) has announced the main milestones for the Eurosystem’s Integrated Reporting Framework (IReF) program, which aims to harmonise statistical reporting across euro area banks.

The IReF will consolidate reporting requirements into a single standard framework applicable to euro area banks and support further data integration within the European Union (EU). This initiative is expected to reduce the reporting burden on banks over time.

The key milestones include:

• A public consultation on the draft IReF Regulation planned for the second half of 2027, which will shape the final legislative proposal.
• A one-year pilot phase starting in the second quarter of 2030, during which reporting agents will test compliance with the new data requirements.
• The first official IReF data reporting will begin in the second quarter of 2031, following a one-year parallel reporting phase alongside existing data reporting.

The implementation plan, including technical and methodological details, is under preparation to ensure a seamless transition and address country-specific requirements. The IReF will be developed within a European cloud infrastructure to enhance digital sovereignty.

This initiative is part of the broader integration of statistical, prudential, and resolution reporting in the EU, coordinated by the Joint Bank Reporting Committee (JBRC). Work on a common data dictionary began in late 2025, alongside the development of a long-term strategy for the European integrated reporting system.