The European Supervisory Authorities (EBA, EIOPA, and ESMA – the ESAs) have published a summary report with the key findings from the 2024 Dry Run exercise on reporting the registers of information under the EU Digital Operational Resilience Act. The conclusions and lessons learnt, as well as individual data quality feedback provided to financial entities during the exercise, will aid preparations for the official reporting starting in 2025.
The ESAs state that the quality of data observed in the registers submitted by almost 1,000 financial entities across the EU was in line with expectations, considering the ‘best effort’ nature of the exercise.
Of the registers analysed, 6.5% successfully passed all data quality checks, while 50% of the remaining registers failed less than 5 out of 116 data quality checks.
The ESAs say that they are ‘confident that the objective of having registers of sufficient quality in 2025 that would allow for the designation of critical third-party service providers (CTPPs) is not out of reach, subject to some additional efforts from the industry’.
