(5)The Banks’ Integrated Reporting Dictionary Operational Tasks Project (BIRD OT) is a statistical ESCB service that comprises an integrated and harmonised data model and reporting dictionary and, as such, is intended to significantly improve the quality, consistency and accuracy of data reported to central banks via statistical reporting. The use of BIRD OT would foster cooperation in the field of regulatory reporting, since all reporting agents and supervised agents using BIRD OT will apply a uniform data model and reporting dictionary. BIRD OT would therefore also benefit all competent authorities to which supervisory data reports are required to be submitted.