17 th XBRL International Conference

1. 17th XBRL International Conference “Bank of Spain – XBRL Formulae for COREP and FINREP” Víctor Morilla (Banco de España) Eindhoven May 5-8, 2008

2. The new Formulae specification • Defining transformation rules to produce new facts from existing ones • Verifying data reported according to validation rules • Value assertions • Existence assertions • Consistency assertions • Documenting those rules • Features: • Business oriented • Maintainable • Extensible

3. Validation example Own funds > Credit Risk Cap.Req + Market Risk Cap.Req $of > $crcr + $mrcr Concept filter = corep:MarketRiskCapitalRequirements Concept filter = corep:CreditRiskCapitalRequirements Concept filter = corep:OwnFunds

4. Dimensional validation example $total <= sum($byCountry) • Dimension Country • Total • France • Spain • … Dimension filter : Country = Total Dimension filter : Country = child(Total) Concept filter = Incomes Expenses Profit Profit before taxes

5. Advantages • Powerful but simple model to express business rules • Higher quality of data • Shorter time to elaborate and debug information • Cost reduction for both the authority and the regulated entity

6. But… • The development of common formulae linkbases exposes some lack of homogenization among supervisors • Precision of the required data

7. Thanks for your attention