Pillar 3 Data Hub: How the EBA Is Standardising Bank Data in the UE

Regulatory reporting in the banking sector is undergoing a broader transformation, driven by the need for greater transparency and better use of data. After discussing the evolution of regulatory data models in the article “DPM 2.0 and the EBA’s 4.2 Reporting Framework: Key Changes and Strategic Implications for EU Banks”, this article explores the next step in that journey: the Pillar 3 Data Hub developed by the European Banking Authority.

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At its core, the Data Hub represents a fundamental change in how banks disclose regulatory information across the European Union, moving from a model based on static documents such as PDFs and Excel files to one built on structured, standardized data. The goal is to improve transparency, comparability, and usability of banking information across institutions and markets. 

Rethinking How Banking Data is Disclosed

Under the Capital Requirements Regulation (CRR), Pillar 3 disclosures cover key areas including capital, risk-weighted assets (RWA), leverage, liquidity metrics such as LCR and NSFR, encumbered assets, and credit risk. In the past, this information was published in formats that varied significantly across banks, which made it difficult to compare, analyze, or even access.

The Data Hub addresses this by introducing a centralized platform where all disclosures are submitted in a structured format aligned with the Data Point Model (DPM), turning what used to be a collection of reports into something closer to a shared data layer.

Instead of reading documents, users can now access standardized data across institutions in a consistent way.

The role of DPM: Defining the Language of Data

The Data Hub is tightly linked to the Data Point Model. The DPM defines what data needs to be reported and in which format, while the Data Hub centralizes and publishes that data, creating a clear separation between definition and distribution.

With the use of formats such as XBRL and iXBRL, supported by common taxonomies, data can be validated, compared, and reused across institutions, with each data point having a clear definition that enables consistent interpretation and automated processing.

The result is a system where regulatory reporting increasingly resembles a database rather than a set of standalone reports.

How the Pillar 3 Data Hub Changes Regulatory Reporting in Practice 

The impact of the Pillar 3 Data Hub is most visible in how reporting is actually carried out. Previously, banks submitted full reports in formats such as PDFs, Excel files, or CSVs, which were difficult to process, required manual interpretation, and often led to inconsistencies across institutions.

With the introduction of the Data Hub, this approach has changed significantly. Banks now submit granular data points in a structured format defined by the EBA. Each data element follows a predefined structure and definition, making it easier to validate, compare, and reuse across different use cases.

Concretely, this means:

• Banks send structured data points based on the new DPM requirements

• Each data point follows a predefined format and definition 

• The DPM validates and structures the data before publication 

• The platform uses this data to generate disclosures  

This fundamentally changes the nature of reporting, placing the focus on delivering data that fits a common structure rather than producing a final document.

As a result, reporting becomes less about compiling information into a document and more about ensuring that underlying data is reliable and ready to be used across multiple regulatory and analytical purposes.

Making Data Accessible and Usable

A key strength of the 3 Pillar Data Hub lies in how information is structured and presented. At the most granular level, the Data Hub platform contains detailed data points that are highly standardized, although not always easy to interpret on their own. To address this, the platform also provides a more aggregated layer, where data is organized into templates and reports that support analysis and make it easier to extract insights.

Users can explore the platform by institution, navigate across different reporting modules, and access information in a more summarized and intuitive format. Data is updated on a regular basis, typically quarterly, and presented in a way that enhances transparency while still avoiding the disclosure of overly sensitive internal details.

Convergence With Supervisory Reporting

The Data Hub also brings public disclosures closer to supervisory reporting frameworks such as COREP (capital and risk reporting) and FINREP (financial reporting), creating stronger alignment between what banks report publicly and what they submit to regulators.

Metrics like LCR, NSFR, or own funds are expected to reconcile across both domains, reinforcing the idea of a single, reliable data source, reducing inconsistencies and duplication, and encouraging banks to approach reporting in a more integrated way.

Data Quality and Governance: Raising the Bar

The move to structured and centralized data increases expectations around data quality, requiring banks to strengthen governance and control frameworks across the reporting process.

In particular, institutions are expected to ensure: 

• Full traceability from source systems to final disclosure 

• Reconciliation across different reports and frameworks 

• Robust validation controls embedded in the process 

• Auditability of the data and transformations applied  

Because the data is public, any inconsistency becomes visible not only to regulators but also to investors and analysts, which increases scrutiny and reinforces the importance of strong data management practices.

Analytical Impact and Market Discipline of the 3 Pillar Data Hub

The availability of standardized data across banks has a direct impact on how information can be used, allowing analysts and market participants to compare institutions more easily, assess risk profiles, and identify differences or anomalies.

In turn, this strengthens market discipline, one of the main objectives of Pillar 3, by enabling more informed and transparent decision-making, while also making banking data more accessible and actionable.

Strategic Implications of the 3 Pillar Data Hub for Banks

For banks, the implications go beyond compliance and require a rethinking of reporting architecture and data management practices. They must adapt to the format required by the EBA and ensure that their internal data can be transformed accordingly, introducing an additional layer in the reporting process where the internal report is no longer the final output, and the structured data submitted to the Data Hub becomes the true regulatory output.

More broadly, institutions are expected to automate and unify their reporting processes, reduce manual work, and improve data management, as reporting evolves from an operational task into a core function of control and governance.

Mirai: Enabling the Transition to the Pillar 3 Data Hub

Adapting to the Pillar 3 Data Hub and evolving frameworks such as DPM 2.0 requires a more integrated and automated approach to regulatory reporting. Mirai Regulatory Reporting software is designed to support this transition, helping banks align with European Banking Authority data standards while reducing manual effort and ensuring consistency.

By centralizing regulatory logic and automating reporting processes, institutions can improve efficiency and make better use of their data, enabling analysis and projections. As a result, regulatory reporting becomes more than a compliance task and begins to support broader financial and risk management objectives.

Transition and Ongoing Adaptation

The implementation of the 3 Pillar Data Hub is still evolving, with a transition period during which banks are adapting to the new model, identifying issues, and responding to updates and corrections introduced over time. 

Institutions need to progressively adjust their systems and processes while dealing with some uncertainty about how the framework will develop, with much of the current focus placed on aligning existing reports and data models with the DPM.

Why Structured Data Is Becoming the New Regulatory Output

One of the most important changes introduced by the Data Hub is conceptual. The report, previously seen as the final output, gives way to structured data submitted to the platform as the true regulatory output.

It introduces an additional layer of transformation and standardization in the reporting process, while also reflecting a broader move toward data-driven regulation, where transparency, comparability, and usability are built into the system by design.

The Pillar 3 Data Hub represents a new way of approaching regulatory reporting in the European banking sector.

As the Pillar 3 Data Hub and DPM 2.0 reshape regulatory reporting, banks need more integrated and automated solutions. Mirai Regulatory Reporting helps institutions align with European Banking Authority standards while reducing manual effort and ensuring consistency.

If your organization is preparing for this transition, it may be time to rethink your reporting framework. 

Preparing for the Pillar 3 Data Hub transition?

The shift to structured regulatory data requires changes across your reporting architecture, data governance, and validation processes. See how Mirai Regulatory Reporting supports EU banks in aligning with EBA standards while reducing manual effort. Explore the solution →

FAQ: EBA Pillar 3 Data Hub

• What is the EBA Pillar 3 Data Hub?
  The Pillar 3 Data Hub is a centralized EBA platform where EU banks submit regulatory disclosures in a structured, standardized format based on the Data Point Model (DPM), replacing previous document-based submissions such as PDFs and Excel files.

• What disclosures are covered under Pillar 3?
  Pillar 3 disclosures under the Capital Requirements Regulation include capital, risk-weighted assets, leverage, liquidity metrics (LCR, NSFR), encumbered assets, and credit risk.

• How does the Data Hub change Pillar 3 reporting in practice?
  Banks no longer submit final documents. Instead, they submit granular, structured data points defined by the EBA. The platform then generates the disclosures, making the structured data the true regulatory output.

• What is the role of XBRL in the Pillar 3 Data Hub?
  XBRL and iXBRL formats, supported by common taxonomies, enable consistent validation, comparison, and automated processing of data across institutions.

• How does the Data Hub relate to supervisory reporting frameworks like COREP and FINREP?
  The Data Hub brings public Pillar 3 disclosures closer to COREP and FINREP, aligning key metrics such as LCR, NSFR, and own funds across public and supervisory reporting. This reduces duplication and encourages a more integrated reporting approach.

• What data governance requirements does the Data Hub introduce?
  Banks are expected to ensure full traceability from source systems to final disclosure, reconciliation across reports, embedded validation controls, and auditability of data and transformations.

• Is the Pillar 3 Data Hub fully implemented?
  Implementation is still evolving. A transition period is underway during which banks are adapting systems, responding to framework updates, and aligning existing data models with DPM requirements.