The EBA outlines next steps on supervisory reporting simplification and extends implementation timelines following consultation feedback on the ITS

For compliance and reporting teams in EU-facing banks, this signals a period of transitional relief combined with forthcoming change: existing data workflows will remain in place longer than expected, but the eventual reporting taxonomy, templates and data-point requirements will still shift. Firms should avoid treating the delay as a reason to stand still. RegCanary advises using the additional runway to audit current reporting inventories, map dependencies between COREP/FINREP and other returns, and build change-capacity for a compressed implementation window once the final Implementing Technical Standards land.

Engagement with industry bodies and national competent authorities during the finalisation phase remains valuable, particularly for smaller and less complex institutions seeking proportionality carve-outs. Key watchpoints: publication of the final report in December 2026, the revised go-live dates that follow, and any transitional arrangements for legacy templates. Firms with cross-border EU/UK reporting obligations should also assess divergence risk as UK and EU simplification agendas progress at different speeds, creating potential dual-reporting friction.

Overall this is a positive cost-of-compliance development, but it rewards those who prepare early rather than those who wait for the final text.