Europe works to cut banks’ reporting burden

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The European Central Bank (ECB) and the Committee of European Banking Supervisors (CEBS) on Wednesday published a new classification system that will make statistical requirements of the two bodies more coherent and cut down on duplicate reporting from banks.

A spokesperson for the ECB told CentralBanking.com the new system would reduce the reporting load on banks. "At the moment, banks give some of the same information to the ECB and the CEBS. They also give some data which is similar but not i

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