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Finance Track: Banking Eurofiling initiative: Harmonized and streamlined Banking Supervision

20 th XBRL International Conference “XBRL: Linking Businesses, Public Regulators & Citizens” April 20-22, 2010 Rome, Italy. Finance Track: Banking Eurofiling initiative: Harmonized and streamlined Banking Supervision Ignacio Boixo.

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Finance Track: Banking Eurofiling initiative: Harmonized and streamlined Banking Supervision

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  1. 20th XBRL International Conference“XBRL: Linking Businesses, Public Regulators & Citizens”April 20-22, 2010Rome, Italy Finance Track: Banking Eurofiling initiative: Harmonized and streamlined Banking Supervision Ignacio Boixo This project is made possible with the financial assistance of the European Union This project can under no circumstances be regarded as reflecting the policies of the European Union

  2. Report 27 ---------------------------------------------------------------------------------------------------------------------------------------------------------------- Harmonization in Europe Basel II, IAS/IFRS … Global best practices European Law 9X,XX% best practices + EU requirements EC 2006/48 & 49 … Transposition into national Legislation Country 1 Country 2 Country 3 Country 27 National Regulation Sup 1 NCB 2 FSA 3 Sup 27 National Implementation Report 1 ------------------------------------ Report 2 Report 3 ---------------------------------------------------------------------------------------------------------------------------------------------------------------- XBRL challenge!

  3. European Collaborative Framework Budget: 2005-2008: 0 €/year 2009-2010: 60,000 €/year Weekly Conf. Call e-mail list 300+ Core Team: Supervisors BE, DE, ES, FR, IT, LU... + Non Supervisors Workshops: 11 editions 70 attendees each Website, News & Communication

  4. COREP rev2 (Jan 2010) XBRL taxonomy

  5. Differential report on COREP 1.3.0

  6. FINREP taxonomy, 2009-12-31. Public exposure

  7. Transformation of business requirements in an IT oriented structure Institutions Yes Total Exposures On Balance Sheet

  8. multidimensional data model Transformation of business requirements in an IT oriented structure • COREP and FINREP both represent EU Directives by way of a framework of instructions and tables comprising: • A set of cells • A set of breakdowns • The set of valid combinations of cells and breakdowns (facts) • The first step from an IT point of view is normalize (in the IT sense) the framework of tables into a formal data model. • The formal data model is NOT linked with any specific format (CSV, XML, Flat File, XBRL, OWL…)

  9. Transformation of business requirements in an IT oriented structure CEBS frameworks Data models • CEBS XBRL ON analyses both frameworks • - identification of the differences • - provision of recommendation • - query for solutions to the COREP and FINREP ON

  10. Best practices

  11. XBRL Operation Network

  12. Best Practices on Data Definitions http://www.xbrlwiki.info/index.php?title=Best_Practices_on_Data_Definitions

  13. Differences in COREP and FINREP COREP FINREP

  14. Harmonisation of the CEBS frameworks • Both frameworks are published by a common organisation • Supervision corporate identity, • Eases the comprehension for banking institutions implementing both frameworks, • Eases the comprehension of IT departments and software vendors dealing with both frameworks, • If one framework is known, the other framework shall be intuitively understood, • Prevents organisational risks by misinterpretations of structural definitions, • Data formats are also being harmonised.

  15. Differences in nomenclature • Same meaning of cell colours • grey colour • criss crossed • yellow colour • unique definition of positive or negative numbers • unique location for clarifications • unique location for references • unique numbering system • unique presentation of validation rules UNIFICATION

  16. Differences in nomenclature

  17. Bella Italia!!! Initial approval of new IT architecture for FINREP and COREP taxonomies Free attendance, please register at www.eurofiling.info

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