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COREP taxonomy Workshop 7 th -18 th February 2005 Hosted by the Bank of Spain

COREP taxonomy Workshop 7 th -18 th February 2005 Hosted by the Bank of Spain. Agenda. CEBS Mandate Goals Organization Timeframe. CEBS. Organization. Timeframe. Goals. Mandate. Committee of European Banking Supervisor (CEBS) Established in November 2003 by the European Commission

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COREP taxonomy Workshop 7 th -18 th February 2005 Hosted by the Bank of Spain

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  1. COREP taxonomy Workshop 7th-18th February 2005 Hosted by the Bank of Spain

  2. Agenda • CEBS • Mandate • Goals • Organization • Timeframe

  3. CEBS Organization Timeframe Goals Mandate Committee of European Banking Supervisor (CEBS) Established in November 2003 by the European Commission CEBS members are high level representatives from the banking supervisory authorities and central banks of the European Union, including the European Central Bank 25 countries and 46 member organisations, observers from EEA* countries, the European Commission and the Banking Supervision Committee of ESCB (European System for Central Banks)Chairman - José María RoldánVice Chair - Danièle NouySecretary General - Andrea Enria* Iceland, Liechtenstein and Norway

  4. CEBS Organization Timeframe Goals Mandate • CEBS Secretariat Ltd. is established as a company limited by guarantee under English law. Its activities are financed by central banks and supervisory authorities participating in CEBS. • The Secretariat supports the Committee and its expert groups, acts as a co-ordinator for consultations, coordinates the co-operation with the Commission and other committees, assists the Chair and the Vice Chair in their public relations activities and representation functions • The staff is presently composed of 10 members seconded by the national authorities

  5. CEBS Organization Timeframe Goals Mandate • Priority areas of work • Regulatory advice to the Commission • Cross-border mergers in banking • The definition of regulatory capital • Supervision of liquidity risk • Convergence of supervisory practice • Supervisory review process • Validation of IRB and AMA systems • External Credit Assessment Institutions (ECAIs) • Common reporting • Supervisory disclosure • Development of IFRS compliant formats • Supervisory guidance for the new IFRS framework • Co-operation and information exchange • Home/host issues • Crisis management • Information exchange The industry,market participantsand end-users CEBS Standards, guidelines and recommendations

  6. Mandate CEBS Organization Timeframe Goals A data model for the common framework for the solvency ratio reporting* has been designed with the aim of remaining neutral in regard to independent information systems. The recommended solution is based on the XML/XBRL (eXtensible Mark-up Language/eXtensible Business Reporting Language) protocol which will allow banks to take full advantage of the framework. All the required information will be brought together within a data model and templates provided by CEBS. The intention is to complete an XML/XBRL coding for this framework before June 2005. (*) own funds and Pillar I capital requirements, credit risk, operational risk and market risk Committee of European Banking Supervisors. Press release 26 January 2005

  7. Risk Management IS Supervisory Operations Counterparties Collateral … Reports Other data … … Mandate CEBS Organization Timeframe Goals Supervisor Bank Bank operations, controls…. Presentation, Analysis… Report ------------------------------ Reception Aggregator

  8. CEBS Organization Timeframe Goals Mandate COREP taxonomy Goals harmonise the data framework (standard) 1 allow banks to take full advantage (implement) 2 limiting the burden for small, local banks (easy) 3 Goals institutions will need to adapt (timeframe) 4 financial market integration (desideratum) 5

  9. CEBS Organization Timeframe Goals Mandate • Deliverables • Initial XBRL taxonomy based in COREP data model • Set of non-confidential test cases of reports used in instance generation • Basic collaborative environment for multinational taxonomy development • Out of scope • Taxonomy national adaptation • Taxonomy approval process

  10. CEBS Organization Timeframe Goals Mandate • Tasks • Designs for taxonomy, test cases and environment. • Taxonomy building, including "optional dimensions" • Study of compatibility with XML, SDMX and SGML derivates • Distributed elaboration of test cases of reports • Generation and validation of instances • Development of the multinational collaborative environment • Main steps • a) Design the strategy and detail the project plan • b) Building taxonomy and test cases • c) Instances generation • d) Refine taxonomy and test cases

  11. CEBS Organization Timeframe Mandate Goals Committee of European Banking Supervisors Chairman: Jose-María Roldán COmmon REPorting Working Group Chairman: Pierre-Yves Thoraval Facilitators COREP taxonomy Steering Committee Chairman: Pierre-Yves Thoraval COREP taxonomy Project Team Coordinator: Ignacio Boixo Specification (XBRL/XML…) Domain (supervision) Solution (collaboration) Proposal

  12. CEBS Organization Timeframe Mandate Goals Domain: Supervisors and banking experts will define objectives and provide guidance, and also they have to (a) elaborate a set of test cases (b) generate instances and (c) validate results. These tasks should be distributed among several participants in different locations. No limit of participants is envisaged in this track. Specification: XBRL experts will investigate the optimal XBRL strategy, build the taxonomy and test the generated instances. Portability to XML Schema and/or SDMX may be required. A limited number of experts will form the [local] core team of this track. Solutions: All the aspects related with the set up of an useful taxonomy, starting from scratch, have to be carried out in this track. Topics as tools, website, training, developments, information flows, and so on have to be addressed here. Topics related with a suitable implementation of taxonomies are other issue. Teleworking: The plenary sessions, the design tasks, and the taxonomy building requires physical interrelationship. Other tasks may be decentralized, specially the test data elaboration, generation of instances and adjustments, where the remote work is much more convenient.

  13. CEBS Timeframe Mandate Organization Goals COREP. PROJECT PLAN TIMEFRAME CX-003

  14. CEBS Timeframe Mandate Organization Goals 7th February Schedule

  15. CEBS Timeframe Mandate Organization Goals 8th February Schedule

  16. CEBS Timeframe Mandate Organization Goals 9th February Schedule

  17. CEBS Timeframe Mandate Organization Goals 10th February Schedule 11th February Schedule

  18. CEBS Timeframe Mandate Organization Goals 14th to 18th February Schedule

  19. COREP taxonomy Workshop 7th-18th February 2005 Open dialogue

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