Financial Reporting

FINREP

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FINREP

FINREP stands for financial reporting framework and is based on international financial reporting standards (IAS/IFRS). FINREP contains information required by the national supervisory authority, when preparing their consolidated supervisory financial returns under IAS/IFRS. The scope of consolidation of FINREP may be defined with reference either to IAS/IFRS or the Capital Requirements Directive 2006/48/EC, as the national supervisory authority considers appropriate. FINREP represents a common standardised reporting framework aiming comparable numbers of financial information produced by financial institutions for their respective national supervisory authorities.