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CEBS and XBRL: COREP - FINREP

CEBS and XBRL: COREP - FINREP. Marc Pickeur 13 th XBRL International Conference May 2006, Madrid. CEBS. Committee of European Banking Supervisors: advises the European Commission on banking policy issues ; promotes convergence of supervisory practise across the European Union ;

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CEBS and XBRL: COREP - FINREP

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  1. CEBS and XBRL: COREP - FINREP Marc Pickeur 13th XBRL International Conference May 2006, Madrid

  2. CEBS • Committee of European Banking Supervisors: • advises the European Commission on banking policy issues ; • promotes convergence of supervisory practise across the European Union ; • fosters and reviews common implementation and consistent application of Community legislation. • www.c-ebs.org

  3. CEBS

  4. CEBS

  5. The CEBS’ Frameworks • FINREP: standardised consolidated financial reporting framework for credit institutions. • COREP: common reporting framework for the new solvency ratio for credit institutions and investment firms.

  6. The CEBS’ Frameworks: cross-border aspects • Further reduction in reporting burden through future alignment of supervisory practices. • FINREP will enable banks to use the same standardised data formats and data definitions.

  7. XBRL • CEBS considers that XBRL can be a helpful tool in constructing a harmonised European reporting mechanism. • CEBS will develop XBRL taxonomies for both the COREP and FINREP frameworks.Source: CEBS Guidelines 16.12.05 and 13.01.06

  8. XBRL • XBRL handles free layout and allows for standardised reporting analysis. • Efficiency tool : reconciles supervisory demand with industry concern on additional burden • for the industry : efficient tool for use of multiple demand of information – internally & externally • for supervisors : enhance co-operation and exchange of information among supervisors

  9. XBRL • Participation in XBRL Workshops. • Presentations at XBRL Conferences. • Development of taxonomies.

  10. XBRL • Some European countries already quite advanced (creation of national XBRL jurisdiction, mandatory use of XBRL as reporting tool) • Success factors: existing national situation, expectations of banking sector, role of central bank, …

  11. Questions www.cbfa.be Marc.Pickeur@cbfa.be

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