JBRC — Advice on the implementation of NACE Rev. 2.1
Tag: S-2025-06-30-jbrc-nace-advice
Type: report
Author(s): Joint Bank Reporting Committee (JBRC), document JBRC 2025 001
Date of source: 2025-06-30 (advice; status note confirms ECB/EBA will follow it)
Date ingested: 2026-08-21
Authority weight: high — formal JBRC advice, confirmed as binding direction by ECB and EBA for reporting from 1 January 2026
Raw file: _raw_sources/S-2025-06-30-jbrc-nace-advice.pdf
What it claims
NACE Rev. 2.1 (adopted by the European Commission, October 2022) should be implemented in a harmonised manner across European banks’ reporting frameworks. The status note (30/06/2025) records that ECB and EBA confirm banks subject to ECB Regulations and/or the EBA supervisory reporting framework shall apply NACE Rev. 2.1 from 1 January 2026 — any reporting with a reference date after that must use Rev. 2.1, avoiding complex recalculation to Rev. 2 and keeping statistical and prudential amounts comparable. NCBs are encouraged to follow the same timeline nationally.
Impacted frameworks: granular ECB statistical reporting (AnaCredit counterparty economic activity; SHSG non-ISIN issuers; BSI loans-to-NFC aggregates from AnaCredit); EBA supervisory reporting (FINREP F 06.01 and F 20.07.1; Large Exposures C 27.00; credit risk supervisory benchmarking; Pillar 3 NPL EU CQ5; Pillar 3 ESG Templates 1 and 5; ESG ad hoc). Allocation should be done at the most granular level (level 4) with mapping to existing template labels while templates are formally updated (e.g. NACE 2.1 codes J and K summed into NACE 2 code J for FINREP).
Notable quotes
- “The ECB and the EBA confirm that … banks … shall apply the new NACE Rev. 2.1 classification starting from 1 January 2026.” (status note, p.1)
- “…a harmonised implementation of the NACE Rev 2.1 … helps minimise costs for banks and increases the analytical value of the reported data.” (p.1)
What’s speculative vs. asserted
Asserted: the timeline, impacted frameworks, and interim template-mapping treatment. Nothing material flagged as speculative; template label adjustments follow “the usual regulatory process” in due course.
Topics this feeds
- CLM Data Taxonomy Governance — the client glossary’s NACE Code and Sector Classification terms (Monitoring & Early Warning) must reference Rev. 2.1.
- Joint Bank Reporting Committee — publisher entity.
Open questions raised
- Timing of the formal template/label updates in the EU Official Journal (interim mapping applies meanwhile).