Most people think banking supervision begins with regulations.

In reality, supervision begins with data.

Before a regulator can assess risk, monitor liquidity, or evaluate systemic stability, it must first receive information from thousands of financial institutions across multiple jurisdictions.

As financial systems become increasingly interconnected, fragmented reporting structures create growing operational and analytical challenges for both regulators and supervised entities.

This observation series explores one of the most ambitious regulatory infrastructure projects currently underway in Europe:

The Integrated Reporting Framework (IReF).

Led by the European Central Bank and the Eurosystem, IReF seeks to streamline statistical, prudential, and supervisory reporting into a more integrated data architecture.

While often discussed as a technical reporting initiative, its implications extend far beyond compliance.

At its core, IReF represents a broader transformation:

From reporting documents to reporting data.

From fragmented submissions to integrated information architecture.

From regulatory oversight to data-enabled supervision.

Why This Matters

The future of financial supervision may not be determined solely by new regulations.

It may be determined by the infrastructure through which information is collected, standardized, and interpreted.

Just as payment systems form the plumbing of financial markets, reporting systems form the plumbing of regulatory oversight.

The quality of supervision depends on the quality of information available to supervisors.

Understanding these infrastructures provides insight into how modern financial governance is evolving beneath the surface of public policy debates.

Research Focus

This research program will examine:

• The evolution of European regulatory reporting architecture

• The objectives and design of IReF

• Data standardization and supervisory integration

• Implications for financial institutions

• Potential lessons for other jurisdictions

Research Program Information

Research Program:
PER-001 — European Banking Data Architecture

Document Focus:
Integrated Reporting Framework (IReF)

Series:
Research Observation Notes

Institutional Theme:
Policy • Capital • Systems Intelligence

Observing the structures beneath the headlines.

Foresight 88 Institute