Recent changes to European Union regulatory reporting have thrown data-gathering efforts into disarray, with almost nine in 10 banks submitting flawed second-quarter data to the European Central Bank.

Of the 117 institutions that submitted periodic supervisory data as of end-June, 101 (86%) failed to pass muster with the ECB’s validation rules on at least one point – the most since comparable data-quality benchmarks were first published in Q3 2017. In Q1, the number was 16, or less than 14% of