Place: Bank of Finland / Microsoft Teams

Present: Officials of the Bank of Finland (BoF) and Financial Supervisory Authority (FIN-FSA). Industry representatives from the Savings Banks Group, OP Financial Group, ALM Partners and Aktia.


  • A decision in principle has been made on the use of DPM Refit for a standardised data model.
  • In connection with the definition of the cooperation model and process, there will be discussion on European Target Solutions, which most likely means a cloud platform operated by the ECB.
  • It is being planned that parent companies would report the data on their all branches. However, it is yet unknown how data on branches outside the euro area would be reported. It is also important to bear in mind that the intention is absolutely not to consolidate the data on branches and the parent company – in accordance with the host principle of statistics compilation, data on branches belong to the national statistics of the jurisdiction where the branch operates.
  • It would be possible to use the ESCB’s RIAD counterparty data system in IReF compilation in the same way as the BoF’s internal registers are currently used in the RATI (MFI) and Luoti (credit) data collections.
  • As part of cross-country harmonisation, the goal is to have uniform statistical compilation and calculation methods regardless of the country concerned.
  • If the reporter is also obliged to report to FINREP, the same accounting standard must be applied in IReF as at the FINREP solo level.
  • The period for parallel reporting will be a minimum of 6 months and a maximum of 24 months. The length of the period will be determined by how fast the reporting country is able to harmonise the IReF statistics with previous data collections.
  • The ECB has expressed a clear preference for loan-by-loan data collection on natural persons.
  • There is also demand for more specific reporting of loan origination and termination types, meaning the source from which a loan enters the balance sheet and the destination to which it leaves the balance sheet.
  • As regards organisation structures, RIAD will probably be utilised so that data on corporate structures will be reported there at an adequately detailed level to ensure reporters will not have to report the same data separately for the IReF. In addition, it has been proposed that the relationship data reported in FINREP could be used in the compilation of IReF, too.