Common European Reporting (COREP)
Common European Reporting (COREP)
- Valid from 26 June 2021 until further notice
- Date of change 15 March 2023
Reporting map (Financial sector) pdf
Table of reporting scope (Capital Market) pdf
Common European Reporting (COREP)
Description of machine-language data transmission of XBRL format reports of Financial Supervisory Authority’s new reporting system has been published and updated.
European Union regulation
- The latest consolidated version in Finnish, Swedish and English as well as in other official EU languages (1 March 2018)
- Document Master directory showing all updates and changes made to the document
EBA reporting webpages
Useful additional information
Määräykset ja ohjeet 26/2013 Yhteiseurooppalainen raportointi (COREP) (Versio 7) (pdf)
More information
- Regulations and guidelines 26/2013: Amendment to FIN-FSA regulations and guidelines on Common European Reporting 15 March 2023
- Amendment of regulations and guidelines concerning EBA ITS data collections 20/2013, 26/2013, 6/2014, 3/2020 and 5/2021, and termination of validity of regulations and guidelines 5/2014 15 July 2022
- Amendments to regulations and guidelines concerning Common European Reporting (COREP) 22 June 2021
- Amendments to FIN-FSA Regulations and guidelines Common European Reporting (COREP) and Regulations and guidelines related to the Capital Requirements Regulation 17 February 2021
Supervised entities are required to prepare a declaration on the accuracy of reported data. The purpose of the procedure is to ensure that the data submitted by the supervised entity to the Financial Supervision Authority (FIN-FSA) is checked and accurate. The declaration must be dated and signed by both the person preparing the report and the person verifying the data. The signed declaration form must be kept by the supervised entity and presented to the FIN-FSA on request. An electronic declaration form will be introduced later.
The person preparing the report and the person verifying the data must not be one and the same person. If several persons participate in the reporting, the responsible coordinator of the reporting may be appointed to verify the data, even if responsibility for verifying individual data has been allocated to another person. The declaration must be updated each time changes occur in the process it describes.
Verification of reported data (word)
The supervised entity may also prepare a free-form declaration which must contain the following elements:
- reference to the report and FIN-FSA reporting standard that the declaration concerns
- description of the supervised entity's reporting process, indicating the sources from which the reported data is collected
- how reported data is verified
- who provides additional information on the reported data
- who verifies the data
- contact details for the person providing additional information and the person verifying data (email addresses and telephone numbers)
- where and how the data that has been used as a basis for the report is stored.
Reporting of incorrect data
Continued reporting of incorrect data to the FIN-FSA will lead to a written request for clarification to the supervised entity. In its reply the supervised entity must present an action plan on how it will remedy the erroneous reporting. Failure to comply with reporting standards may lead to administrative or other sanctions.