ISO 5116-2:2021

Overview

ISO 5116-2:2021 - "Improving transparency in financial and business reporting - Harmonization topics - Part 2: Guidelines for data point modelling" provides practical guidance for supervisory experts on creating a Data Point Model (DPM). Developed from the Eurofiling Initiative and elaborated by EIOPA and EBA, the standard explains core terms, data modelling approaches, and a step‑by‑step process to translate legal reporting requirements into a structured, implementable data design. The document is aimed at improving harmonization, comparability and quality of supervisory reporting across jurisdictions.

Key topics and technical content

• Scope and structure: Four main sections covering terms and definitions, types of data models, the necessity of data modelling for supervisory data, and a how‑to guide for creating a DPM.
• Terms and definitions: Clear definitions for concepts like data point, dictionary element, dimension, dimensioned element, and default member that are essential when building a DPM.
• Data modelling approaches: Overviews of different approaches including form‑centric vs. data‑centric modelling, dimensional modelling, and normalization concepts.
• Multidimensional models: Explanation of multidimensional data models and operations that support analytical reporting and data warehouses.
• DPM specifics for supervision: Objectives, main features (e.g., reducing redundancy, improving integration of changes, enhancing harmonization) and technical constraints relevant to supervisory reporting.
• Practical creation steps: Guidance on defining dictionary elements, specifying hierarchies, defining data points, normalizing tables, quality checks and distributing the DPM.
• Implementation outlook: Remarks on current progress and emerging software tools to support DPM creation.

Practical applications

• Harmonizing supervisory reporting across national supervisory authorities to enable cross‑jurisdictional analysis.
• Converting regulatory texts and reporting tables (e.g., prudential regulations) into a formal data model understood by both business and IT.
• Designing reporting formats and feeding data warehouses or analytics platforms with consistent, validated supervisory datasets.
• Reducing maintenance effort by preventing duplicate information and enabling national extensions to coexist with a common European dataset.

Who should use this standard

• Banking and insurance supervisors responsible for reporting requirements and regulatory analytics.
• Supervisory experts translating legal requirements into data specifications.
• IT and data architects implementing reporting systems, data warehouses and validation logic based on the DPM.
• Policy bodies and harmonization initiatives (e.g., EBA, EIOPA, Eurofiling) coordinating cross‑border reporting standards.

Related standards and references

• Part of the ISO 5116 series on improving transparency in financial and business reporting - consult other parts of ISO 5116 for complementary guidance.
• Developed in line with practice from the Eurofiling Initiative, and referenced by EIOPA and EBA for supervisory reporting harmonization.

Keywords: ISO 5116-2, Data Point Model, DPM, data modelling, supervisory reporting, financial reporting, Eurofiling, EBA, EIOPA, multidimensional model, data warehouse.