COREP (Common Reporting)

What it is

COREP, short for Common Reporting, is the set of standard templates that EU banks and large investment firms use to report their capital position to supervisors. It covers own funds, capital ratios, credit risk exposures and risk-weighted assets, operational risk, securitisation and the output floor. The same EBA reporting framework also holds leverage ratio, large exposures and liquidity templates, which many teams group with COREP in daily work.

The legal basis is Article 430 of the Capital Requirements Regulation (CRR). The templates, instructions and data point model are laid down in an implementing technical standard (ITS) drafted by the European Banking Authority (EBA) and adopted by the Commission. The current ITS is Commission Implementing Regulation (EU) 2024/3117.

Firms submit COREP in XBRL format using the EBA taxonomy. Each file must pass EBA validation rules before the supervisor accepts it.

Why it matters

COREP is how supervisors see every bank’s capital in the same format. The data feeds the SREP, EU stress tests, EBA risk dashboards and peer comparisons. Errors lead to resubmissions, supervisory findings and, in serious cases, fines. Deadlines are fixed: quarterly data are due on 12 May, 11 August, 11 November and 11 February.

Worked example

Illustrative numbers.

A bank prepares its template C 01.00 (own funds) and C 02.00 (own funds requirements) for the quarter.

• CET1 capital: 1,200 million euro. Additional Tier 1: 150 million. Tier 2: 250 million. Total own funds: 1,600 million.
• Total risk exposure amount: 10,000 million, of which credit risk 8,800 million and operational risk 1,200 million.
• Template C 03.00 then shows CET1 ratio 12.0%, Tier 1 ratio 13.5%, total capital ratio 16.0%.

A validation rule checks that C 03.00 ratios equal the C 01.00 amounts divided by the C 02.00 total. If one cell is off by rounding, the file fails and must be corrected before the deadline.

Who uses it

• Regulatory reporting analysts produce, reconcile and submit the templates.
• Capital reporting analysts own the own funds and RWA figures behind them.
• Liquidity reporting analysts file the related LCR, NSFR and ALMM templates in the same framework.
• Data governance analysts trace each data point to source systems and document lineage.
• Business analysts and regulatory consultants map new ITS releases to systems and processes.

Common confusions

• COREP and FINREP are separate. FINREP reports financial statements on an accounting basis; COREP reports prudential capital.
• COREP is supervisory reporting sent to authorities. Pillar 3 is public disclosure, with its own templates.
• The EBA publishes taxonomies and the ITS, but firms submit to their national supervisor or to the ECB through it.
• A new taxonomy version can change templates and validation rules without any change to the CRR itself.