EBA taxonomy consultation: where are we now and what happens next?

Last year, the European Banking Authority (EBA) launched a consultation on operational risk loss data collection, including the establishment of a new operational risk event taxonomy. Following discussions with our members and a member survey in the summer of 2024, ORX responded to the EBA consultation in September.

The EBA held a workshop in November 2024, where it presented a revised event taxonomy proposal, taking into account the comments provided in the consultation. We attended the workshop and provided feedback on the revised proposal. This blog outlines what we know about the current status of the EBA’s taxonomy proposals.

Please note, the final version of the EBA taxonomy is not yet agreed upon, and any proposals outlined in this blog are subject to change.