1 / 10

Implementing XBRL in cross- sector supervision _____________

Implementing XBRL in cross- sector supervision _____________. Eric JARRY – Banque de France eric.jarry@banque-france.fr. Eurofiling 2013-06-19. European System of Financial Reporting. Europe. J urisdictions. Reporters. NSAs. ESAs. XBRL. XBRL. CEBS. X BRL. XBRL. CEIOPS. X BRL.

barbra
Download Presentation

Implementing XBRL in cross- sector supervision _____________

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Implementing XBRL in cross-sector supervision_____________ Eric JARRY – Banque de France eric.jarry@banque-france.fr Eurofiling2013-06-19

  2. European System of Financial Reporting Europe Jurisdictions Reporters NSAs ESAs XBRL XBRL CEBS XBRL XBRL CEIOPS XBRL CSDB CentralSecurities DataBase XBRL CESR … … Joint Committee

  3. XBRL in ACP / Banque de France • Before 2007: the French banking regulator, Commission bancaire, bound to Banque de France, used a proprietary format for the French banking reporting since 1993, BAFI • 2005-2006: CEBS (now EBA) has chosen XBRL for the Basel II / CRD and Financial reporting: COREP and FINREP taxonomies • 2006: Banque de France has decided that XBRL will be the only format accepted for COREP and FINREP data, a new application is developed: COFINREP. Reception of XBRL reports in 2007 • 2008: New French regulations, complete change of the reporting system : SURFI (Unified FInancial Reporting System), all banking reporting for prudential and statistical needs of Banque de France, will be done in XBRL, the SURFI taxonomy and SURFI application are developed

  4. XBRL in ACP / Banque de France • 2010: The French authorities for Banking and Insurance supervision have been merged, giving ACP (Prudential Supervisory Authority), bound to Banque de France • EBA uses another implementation of the SURFI sytem, IPEBA – IT Platform for EBA. EBA accepts XBRL, XML and CSV reports for KRI (Key Risk Indicators) data • 2011: Decision of EIOPA to use XBRL for the reporting, from undertakings to NSAs and from NSAs to EIOPA • 2012-2013: SURFI application adapted to support Solvency II and new EBA taxonomies • 2014: First filings of COREP, COREP_LE and FINREP data • 2014: First filings of Solvency II data (in XBRL, voluntary reporting, specific to France)

  5. KRI instances (to EBA) Outputprocessing XBRL HTTP Encryption Signature Reportingdatabase(XBRL) Authentication Authorization Certificats mgt RegistryApplication XBRLvalidation (with formula) XBRLvalidation (not formula) Instances and errors processing Views generation Due timemanagement Taxonomies Webforms Taxonomies Registry SMTP Filetransfer Timestamping The SURFI system XBRL XML OneGate SURFI Excel Security PDF Excel Formshandling Excel SASApplication XBRL Web dataentry Messages Formsgeneration Transfer protocols Otherapplications XBRL XBRL XML XML CSV XBRL EDI Conversions(IPEBA) Other flows XML CSV Messages Excel Common portal of Banque de France(from National Bank of Belgium)

  6. Appreciated practices • Give to each assertion: • A clear label expressing the check: xxxxshallbeequal to yyyyy • A code

  7. Generic messages / labels Escaped XML element

  8. Web forms • Applicable only to small set of data • Will certainly not be implemented for Solvency II reporting in ACP • May be a way to view the data sent to the regulator • But ACP sends back Excel sheets containing the data and showing the errors • May be a way to correct (slightly) invalid reports • Imply a cost to create forms from taxonomy / regulatory templates • The Table linkbase will help • May be used for the signature of reports for small filers (view the reported data, then sign)

  9. Excel to XBRL conversiontool • Some small filers use solutions based on Excel (specially in the insurance sector) • An Excel to XBRL conversion tool may be an alternative to Web forms (some offers provide both solutions) • Possibility to fill the forms with Excel API (e.g.: ActiveX)

  10. Thankyou. Questions ? eric.jarry@banque-france.fr

More Related