What is Regulatory Reporting?
Regulatory reporting refers to the preparation and submission of structured reports that banks, insurance companies, and financial institutions must deliver to supervisory authorities. These reports allow regulators to monitor financial stability, risk exposure, capital adequacy, liquidity, and more.
Each report must follow specific templates and validation rules defined by regulators. Submissions typically occur on a monthly, quarterly, or annual basis, depending on the type of report and the regulatory framework.
These reports are not generic documents — they must be formatted in standardized, machine-readable formats such as XBRL (eXtensible Business Reporting Language) or regulator-specific Excel templates, depending on the jurisdiction and framework.
What Is a Taxonomy?
In the context of regulatory reporting, a taxonomy is a structured definition set provided by a regulatory authority. It describes:
What data must be reported (e.g. total capital, risk exposure, liquidity ratio)
How that data is structured (tables, dimensions, validation rules)
How each element is defined and validated
What format is required (XBRL or Excel)
Taxonomies are published and maintained by regulatory bodies such as the EBA, EIOPA, ACPR, or SRB. Each new release of a taxonomy may include updates to rules, templates, or report structures, which means institutions must ensure their tools are up-to-date and compliant.
Diligence Software automatically integrates the latest taxonomies so that compliance teams can prepare reports that are always aligned with the current regulatory requirements — without worrying about technical changes.
What Do Reporting Templates Include?
Each taxonomy contains reporting templates, which are specific forms designed to capture required data under a regulatory framework. For example:
COREP templates for capital requirements
FINREP templates for financial statements
Solvency II templates for insurance balance sheet and risk
ALMM, LCR, NSFR templates for liquidity and funding
Each template is composed of one or more individual reports, which Diligence renders in a user-friendly way — either inside the XBRL Pro desktop interface, Excel sheets through XBRL Express, or automated through our web-based tools.
Why This Matters
Using out-of-date templates or submitting incorrect formats leads to rejected reports, audit risk, and delays. That’s why Diligence is built to keep everything aligned with the latest frameworks and taxonomies — so compliance teams can focus on the content, not the technicalities.