The European Banking Authority (EBA) just raised the bar on transparency.
With the EBA 4.1 reporting framework, financial institutions across Europe are now required to report Pillar 3 disclosures in XBRL—a significant move toward fully digitized supervision.
But what exactly is Pillar 3 in this context? What’s changing, who’s affected, and how can you prepare?
Here’s what you need to know—whether you’re updating your regulatory stack or just learning about this shift for the first time.
Pillar 3 is part of the Basel framework that governs banking regulation worldwide.
If Pillar 1 defines capital requirements, and Pillar 2 focuses on supervision, then Pillar 3 is about telling the world how you manage risk.
It’s a transparency obligation.
Traditionally, Pillar 3 disclosures were published in static PDFs—long, complex documents with little consistency across institutions.
With EBA 4.1, that’s changing.
Disclosures now move to a structured, machine-readable format: XBRL.
This brings Pillar 3 into the same technical universe as COREP and FINREP, unlocking comparability, automation, and higher-quality data across Europe.
This transformation isn’t only about compliance. It’s part of a larger initiative from the EBA and the ECB to create a centralized European data hub.
In the coming years, this public portal will give professionals—and eventually the public—open access to the Pillar 3 “disclosures” submitted by financial institutions.
The goal is to make key financial data:
Which is why the move to structured XBRL is essential. And why getting it right now is a smart long-term move.
The obligation applies primarily to:
If your organization already reports COREP or FINREP, it’s very likely you’ll also be required to submit Pillar 3 disclosures in XBRL starting in 2025.
This isn’t a narrative report anymore: you’ll need to follow predefined templates with strict validations and structured taxonomy rules.
The EBA 4.1 Pillar 3 package includes templates covering:
All of these must be filed using XBRL, with EBA validations in place.
That means institutions will need to align their internal data systems to meet the technical and reporting requirements—accurately and on time.
Moving to XBRL isn’t just about satisfying regulators.
Institutions that invest early in automation and structure can:
In short: this is a chance to improve reporting operations—not just tick a box.
We built XBRL Express to help institutions navigate regulatory reporting quickly, reliably, and without needing technical expertise or third-party consultants.
As soon as EBA released the Pillar 3 templates in version 4.1, we made them available—automatically.
If you’re already using Diligence, Pillar 3 is live in your workspace.
You can:
There’s no extra setup, no hidden costs, and no “black box” logic.
Just clean, fast, and accurate reporting—exactly when you need it.
The transition to XBRL for Pillar 3 is not just a regulatory milestone.
It’s a step toward a more open and intelligent financial system—where data flows efficiently and transparently.
If you’re preparing for Pillar 3, now is the time to act.
It’s already available in XBRL Express, alongside COREP, FINREP, SBP, and more.
