In this area, it is important to highlight the impact that the existence of harmonized supervisory reports at the European level – such as FINREP and COREP – had on enabling the setting up of the SSM in such a swift and efficient way. As for the infrastructure, new bodies were created to cater for the data needs associated with the SSM.
In particular, one of the main tasks of the Working Group on Supervisory Statistics, which was created in the wake of the construction of the SSM, is the collection, production and dissemination of supervisory data harmonised under the ITS and any other additional supervisory data deemed necessary for the SSM.