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Sharing experiences of XBRL projects COREP/FINREP in France

VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid. Sharing experiences of XBRL projects COREP/FINREP in France. Sylvie LEPICIER XBRL France. Agenda. XBRL France COREP FINREP in France Use Cases Issues and Solutions. Institutions

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Sharing experiences of XBRL projects COREP/FINREP in France

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  1. VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Sharing experiences of XBRL projects COREP/FINREP in France • Sylvie LEPICIER • XBRL France

  2. Agenda • XBRL France • COREP FINREP in France • Use Cases • Issues and Solutions Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  3. Institutions • Compagnie nationale des Commissaires aux Comptes • Secrétariat Général de la Commission Bancaire (Banque de France) • Conseil National de la Comptabilité • Conseil Supérieur de l’Ordre des Experts Comptables • INSEE • Auditors • PriceWaterhouseCoopers • Financial data provider • COFACE • Companies–Non profit organisations • BNP Paribas • Edificas • PSA Finance • GE Factofrance • OCBF • Groupe Banque Populaire • Groupe Caisse d’épargne XBRL France Members in 2006 (27 members) • IT companies,Software providers, experts • Atos Origin Integration • Cartesis • CEGID • Microsoft France • SopraGroup • Software AG • UBMatrix • Invoke • III - Umanis • LGB Finance • Viveo • Fujitsu • C. Marion Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  4. XBRL France – Legal Structure • Not for profit organisation • With Board and Steering Commitee • Phillippe Bonnin - President • Bruno Tesnière – Vice President • Sylvie Lepicier – Treasurer • Jean-Luc Menda – Member of the Board • Gilles Maguet – Secretary General Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  5. XBRL France – Working Groups • Taxonomy Working group • French financial statements Taxonomy Working Group with the aim to set up a taxonomy according to French Gaap in coordination with Edificas organisation • IFRS Taxonomy Working Group – Translation of the IFRS Taxonomy • COREP/FINREP Working Group geared by Banking Commission in France • Marcom Croup (events, marketing materials, breakfasts, newsletter, etc.) • Technology Group in support to the other groups Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  6. XBRL France – Translation of the IFRS Taxonomy (1/2) • 1st step : To Carry out the translation of 4000 elements names of the 2005 IFRS GP Taxonomy • Process : a translation group has been set up between XBRL Belgium, NBB (National bank of Belgium), XBRL France, Banque de France, CNC (Conseil national de la Comptabilité – France) and IASB in July 2006 • An intern appointed by XBRL France is in charge of this specific task • The cross-checking is under process between CNC and NBB Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  7. XBRL France – Translation of the IFRS Taxonomy (2/2) • To help the checking, all the labels are classified by accounting class (Balance sheet classified, BS liquidity, BS portfolio, Income statement by function, by nature,...) • The FINREP translation is also taken into account • A release in draft wil be probably available for mid october • The final release should be ready for mid-november • Next step : the translation and checking of the 2006 IFRS GP Taxonomy Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  8. Agenda • XBRL France • COREP FINREP in France • Use Cases • Issues and Solutions Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  9. $ $ Banking Regulatory Reporting in France Before June 2007 : Existing system • SITU.CB : • ….AAØØ1Ø3B5A…………..000000100000……… Banque de France (SGCB) Corporate accounts BAFI FR GAAP MonthlyQuarterly… Annually IFRS BAFI FR GAAP BAFI IFRS Consolidated accounts SGCB : Secrétariat général de la Commission Bancaire BAFI : Base des Agents Financiers, existing reporting system Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  10. $ $ Regulatory Reporting in France After June 2007 : COREP FINREP Banque de France (SGCB) COREPSGCB BAFI FR GAAP (Quarterly)Semi-annually Annually IFRS BAFI FR GAAP BAFI IFRS COREPFINREP SGCB Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  11. Regulatory Reporting in France COREP FINREP Regulatory Requirement Oct.2007 January 2006 June2006 June2007 Deadline for transmission PublicationFINREP & COREP (last project) FRANCE PublicationFINREP & COREP CEBS 1st reportingin Paris (reduced) Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  12. Agenda • XBRL France • COREP FINREP in France • Use Cases • Issues and Solutions Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  13. Fullfillment Intégration Use case 1French bank with international and european subsidiaries Project Management Pérennization Maintenance Dictionnary Macro-Analysis Mapping Gap treatment Sensibilisation Workshops ? ? ? Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  14. Use case 1 The main questions at each step • Lexical / Dictionnary : • Questions : how to summarize all the regulations on COREP and FINREP and how to give a correct meaning for the understanding of each party within the bank • French CB instruction (COREP in november and FINREP in June) • CRD directives • Basel 2 texts • IRFS rules • Questions/answers from French Banking Federation (FBF) and Banking Commission • Local bank financial rules referential DICTIONNARY Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  15. Use case 1 The main questions at each step • Mapping : • Once precisely defined the exact meaning of elements, find the way of mapping the data : • Direct mapping : the data already exist in the accounting system or risk systems • The data don’t exist : gap analyses and treatment • Examples : • the breakdown by counterparty • Risk cells for FINREP • New breakdown (ex : 2 years for risk liquidity instead of 1, 3 and 5 years as before) Gap treatment Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  16. Use case 1The questions regarding the IT architecture for FINREP and COREP reporting Accounting and consolidation system Risk Management Data Credit risk Subsidiaries Xls.xbrl files ? Risk Management Data ? Market risk FINREP COREP Counterparties breakdown Prudential templates ? Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  17. Use case 1The questions regarding the IT architecture for FINREP and COREP reporting • What is the best organisation to produce COREP and FINREP reportings ? • Head of Finance and Heaf of Risk separately or the financial department, traditionnally in charge og the reporting tasks ? • Which systems to use ? • Legacy systems already operationnal for consolidation and risk management, both of them or a special XBRL tool ? • Reporting systems already operationnal or a new XBRL system as a convertor/validator ? • Which are the controls to enforce for : • Reconciliation of risk data and accounting data • Treatment of gap (COREP and FINREP data required and data available in both systems) Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  18. Use case 1The « state of art » regarding the IT architecture for FINREP and COREP reporting • Most of the time, the financial department is in charge of reporting as before • The data reconciliation between risk and acounting is viewed like as an important parameter in the project • The choice of the XBRL tools (XBRL module of existing systems or new provider for convertor/validator) is still pending at this step Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  19. Use Case 2 French bank specialised in consumer credit Susidiaries XBRL tools Outsourcing providers Accounting and consolidation systems Master data base Business compliance subsidiaries Technology compliance XBRL Tools (viewer,…) Commission bancaire Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  20. Use Case 2 French bank specialised in consumer credit • The main issues identified are : • How to collect data from • subsidiaries (which own their proprietray legacy IT system) • partners (the bank has outsourced most of the back office management tasks) • How to deal with subsidiaries In / outside Europe (COREP/FINREP and non COREP/FINREP) • How to extentthe XBRL tools through the whole bank Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  21. Agenda • XBRL France • COREP FINREP in France • Use Cases • Transversal Issues Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  22. The main planning for COREP and FINREP reporting en France COREP Quaterly if total of assets sup 80 milliards euros If not semi-annually FINREP Semi-annual June Octobre 2007 December Avril 2008 4 months 3 months June septembre 2008 December Mars 2008 3 months 2 months NB : As of June about 15 statements have to be sent As of december about 27 statements Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  23. Due to the reduction of remittance delay, speed up of data collection and processing are required • Stream B : Closing process consistency “FastClose” • Speed up of data collection and processing • New tasks to be handled • Risk-accounting data reconciliation process and tool implementation • Co-validation of RWAs • Control of Regulatory reporting • Collection and assembling of Credit, Market and Operational RWA ; new ratio calculation • Stream B : Closing process consistency “FastClose” • Speed up of data collection and processing • New tasks to be handled • Risk-accounting data reconciliation process and tool implementation • Co-validation of RWAs • Control of Regulatory reporting • Collection and assembling of Credit, Market and Operational RWA ; new ratio calculation • New tasks to be handled • Risk-accounting data reconciliation process and tool implementation • Co-validation of RWAs • Control of Regulatory reporting • Collection and assembling of Credit, Market and Operational RWA ; new ratio calculation Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  24. Dates to keep in mind at the Europeanlevel Which agenda should be respected ? Belgique Head-office First date (Finrep 2006, Corep 2008) Remittance delay : 40 days Example France subsidiary First date (june 2007)/ frequency : semi-annually, remittance delay (down to 2 months) AUSTRIA subsidiary First date / frequency : quaterly, remittance delay (1 month), First date / frequency : quaterly, remittance delay (down to 8 days ?), cells asked : all TCHEQUIE subsidiary Basel II : local options / calculation rules (counterparty types ,…) ? Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

  25. Thank youMuchas gracias • sylvie.lepicier@xbrl.fr XBRL France 153, Rue de Courcelles 75017 Paris • +33.6.87.89.71.91 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

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