ON-POINT Insight #10 - expertise from the consulting frontline
IReF Is Coming – The ECB Has Published Its Roadmap by Hubertus Heinrich
On 8 June 2026, the European Central Bank (ECB) set out the key milestones for the introduction of the Integrated Reporting Framework (IReF) for the first time. For many institutions, 2031 may still appear some way off. However, anyone familiar with the complexity of regulatory transformation will know that the real preparation begins much earlier.
The ECB’s IReF Roadmap at a Glance
Second Half of 2027 – Public Consultation on the IReF Regulation
The ECB plans to launch a public consultation on the draft regulation in the second half of 2027. This will give banks an opportunity to assess the future regulatory requirements and contribute feedback to the legislative process.
Second Quarter of 2030 – Start of the One-Year Pilot Phase
During a one-year pilot phase, reporting institutions will be expected to test their ability to meet the new IReF data requirements. The pilot will support both banks and the Eurosystem in their technical and operational preparations, helping to ensure that structural issues are identified and resolved before the framework enters into production.
Second Quarter of 2031 – Start of Official IReF Reporting
The first official submission under IReF is scheduled for the second quarter of 2031. At the same time, a one-year parallel reporting phase will begin, during which the existing statistical reports within the scope of IReF will continue to be submitted alongside the new IReF reports.
What Will Happen Between These Milestones
The ECB has also announced that the banking industry will receive important information about the future IReF requirements before the public consultation begins. In parallel, the Eurosystem is developing a comprehensive implementation plan that will provide further methodological and technical details and describe how national data collection frameworks will be migrated to the future IReF target model.
At first glance, banks still have five years before the framework enters into production.
In reality the next two years will be the decisive preparation phase for banks.
IReF aims to harmonise statistical reporting across Europe and make data collection more efficient. For banks, the initiative provides an opportunity to modernise historically fragmented reporting environments and meet future regulatory requirements using a more consistent data foundation.
IReF is not a conventional regulatory reporting project – it is a transformation of banks´data, governance and reporting architecture.
The initiative will have a significant impact on data environments, target architectures, governance structures and operating models. Experience from BCBS 239, AnaCredit, ESG reporting and DORA shows that the greatest challenges rarely lie in the reporting logic itself, but in the availability, quality and consistency of the underlying data.
Institutions should use the period leading up to the consultation to:
- analyse their existing data models
- assess the impact on reporting platforms
- define their target architectures
- strengthen governance and data quality processes
- identify synergies with ongoing transformation programme
Our Assessment
At first glance, the official timetable appears to leave considerable time before the 2031 go-live. In practice, however, the ECB’s announcement marks the starting point for the necessary business, technical and organisational preparations. Data architectures, governance structures and reporting platforms in particular should already be assessed for their readiness to support IReF.
Further Information
The European Central Bank’s full announcement regarding the updated IReF roadmap is available on the ECB’s official website.
Looking Ahead
The introduction of IReF is not simply a regulatory reporting exercise – it requires banks to reassess their data architectures, governance structures and reporting platforms well ahead of the first official submission in 2031.
Our team is closely monitoring the ECB’s roadmap and the forthcoming regulatory developments to help institutions prepare early, identify potential gaps and align IReF with existing transformation programmes.
At ON-POINT, we combine regulatory expertise with hands-on delivery experience to support complex transformation projects from initial assessment through to implementation. Reach out to Hubertus Heinrich to start the conversation.