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COREP/FINREP Taxonomies Way forward

COREP/FINREP Taxonomies Way forward XI European Banking Supervisors XBRL Workshop Vienna, 18 th November 2009 Ignacio Boixo CEBS XBRL Operational Network. European Collaborative Framework. Weekly Conf. Call e-mail list 300+. Budget: 0 €/year. Core Team: Supervisors

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COREP/FINREP Taxonomies Way forward

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  1. COREP/FINREP Taxonomies Way forward XI European Banking SupervisorsXBRL WorkshopVienna, 18th November 2009Ignacio Boixo CEBS XBRL Operational Network

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

  3. EU support for FINREP XBRL developments€ 59,000 in 2009: XBRL Spain, BR-AG, Aquilonious 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

  4. IT harmonized reporting Internet ready format Large reports: Full COREP have 40,000 cells Compact: Tables/cells as Excel Validation: Validation also at sender side Change management: New and deleted cells Mapping between Reports and Databases Coherence between supervisory and IT views

  5. Why XBRL? XML stands for eXtensible Markup Language. XML is designed to transport and store data. www.w3schools.com/xml XBRL stands for eXtensible Business Reporting Language, butXBRL should be better understood as: eXtension forBusiness Reporting of XML

  6. eXtension forBusiness Reporting of XML A solution based on standards and developed using methodology for standards (public exposure, acceptation…) would eventually be adopted as an standard A solution based on standards but developed without methodology for standards would remains proprietary. Working together: • Supervisors, Banks, Software, Consultants… • National, European, International… • IT people, accountants, supervisors…

  7. FINREP/COREP XBRL ROADMAP • FINREP templates Frozen! • Architecture decisions Agreed! • Matrix Schema Ready! • Formal Data Model November’09 • Architecture reference December’09 • FINREP Taxonomy (Proof of concept) January’09 • Final FINREP/COREP templates 2010, 2011 • Final FINREP/COREP Taxonomies 2010, 2011 • Systems changes/testing (1 year) 2011, 2012 • Go live 2012, 2013

  8. Rome, April 2010Put these dates in your diary: XBRL International Conference 19th-23rdEuropean Banking Supervisors XBRL Workshop (tentative) Friday 23rd

  9. Financial Markets Information Society Financial Information Bridge Regulation Banks FMIs XBRL People Internet

  10. www.c-ebs.org www.eurofiling.info Ignacio Boixo boixo@bde.es +34 618526434 The XBRL Network of the

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