EBA · 2024_7236 Rejected question

NACE 2025 reporting in ITS

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
430
Topic
Supervisory reporting
Submitted by
Competent authority
Submitted
2024-10-30
Browse ECB SSM Register → More Q&As on this regulation →

Question

The upcoming changes to the NACE (Nomenclature of Economic Activities) codes in 2025 are going to have certain implications for banks, particularly in relation to the ITS on supervisory reporting of institutions. For bank supervisory reports in 2025 in which data on NACE activity are requested, should the applicable NACE classification be based on the current NACE classification, or should the NACE activity codes be based on the NACE 2025 (which will be officially enacted on 1 January 2025)?

Background

According to the Commission Delegated Regulation (EU) 2023/137, for reference periods starting from 1 January 2025, NACE 2025 classification is to be applied. NACE Regulation is amended with an annex containing new breakdown and new codes for economic activities. Since the supervisory reporting ITS refers to the NACE regulation (in Annex V, Part 1, point 5d), the question arises whether the reference to the NACE regulation is aligned with the technical specifications in the DPM.
No answer published yet.

Original source: European Banking Authority, Q&A ID 2024_7236

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

Similar Q&As

Reporting (Art. 40 PEPP), Reporting by IORPs, Reporting templates on risk concentrations and intra-group transactions for conglomerates (FICOD), Reporting Templates

Answered 2025-08-25

Format of NACE code to be reported (Annex IX, 5. LE1 template identification of the counterparty, instruction to column 060 NACE code)

Answered 2014-03-21

Reporting by IORPs

Answered 2025-06-06

Reporting Templates

Answered 2025-02-21

Reporting Templates

Answered 2025-05-08

More Q&As on this topic

Fair value hierarchy: Financial instruments at fair value (F14)

Answered 2025-03-14

Substitution approach for exposure and guarantor under different approaches

Answered 2020-09-11

Calculation and Application of incurred CVA per Article 273(6)

Answered 2016-12-09

Treatment of unrealised gains under the Common Equity Tier 1 (CET1) - unintended consequences due to a double deduction.

Answered 2014-12-19

📋 Track EU financial regulation continuously

Forseti monitors EU financial regulation and delivers personalised alerts anchored to verified official sources.

Start free trial → Learn more

14-day free trial. No credit card required.