1. Committee of European Banking Supervisors XBRL Network
15th XBRL International Conference
COREP and FINREP: Start of real XBRL reporting in the European Banking Supervision
Committee of European Banking Supervisors XBRL Network
Daniel Hamm
Katrin Schmehl
Brief update on the development in the COREP and FINREP-Projects
Munich,

2. Short Summary of FINREP COREP and FINREP in Europe Today
Agenda
Short Summary of COREP
Short Summary of FINREP
COREP and FINREP in Europe Today
Status and Future of the Projects

3. Short Summary of FINREP COREP and FINREP in Europe Today
Agenda
Short Summary of COREP
Short Summary of FINREP
COREP and FINREP in Europe Today
Status and Future of the Projects

4. 9X,XX% Basel II compatible
COREP Background
Basel II
Directives 2000/12 & 93/6
Country 1
FSA 1
Report 2
Report 1
Country 3
Country 2
Country 25
FSA 2
FSA 3
FSA 25
Report 25
Report 3
European Law
9X,XX% Basel II compatible
Transposition into
national Legislation
National Regulation
National Implementation
XBRL challenge!

5. COREP: COmmon REPorting
COREP: Dates & Facts
COREP: COmmon REPorting
Initiative of the Committee of European Banking Supervisors (CEBS,
End of 2004: Decision of CEBS to use XBRL
July 2005: First Public Working Draft of Dimensions
March 2006: COREP Taxonomy 1.0
October 2006: Start of national extensions
2004
2005
2006
time
February 2005: First European Banking Supervisors XBRL Workshop (Madrid)
Start of taxonomy development
September 2005: III European Banking Supervisors XBRL Workshop (Brussels)
First presentation of results to supervisors
September 2006: Dimensions 1.0 Recommendation
COREP Taxonomy 1.2 (official release to build national extensions)

6. Taxonomies represent 18 templates
COREP: Dates & Facts
Taxonomies represent 18 templates
Overview and group solvency details (2)
Credit Risk (7)
Market Risk (6)
Operational Risk (3)
Current taxonomy version: (dated )
Several European Banking Supervisors XBRL Workshops took place (latest was the VII Workshop and took place in Munich last month)
Official Website:

7. Short Summary of FINREP COREP and FINREP in Europe Today
Agenda
Short Summary of COREP
Short Summary of FINREP
COREP and FINREP in Europe Today
Status and Future of the Projects

8. FINREP: FINancial REPorting
FINREP: Dates & Facts
FINREP: FINancial REPorting
FINREP: XBRL representation of the Financial Reporting Framework of the CEBS
FINREP is designed for credit institutions that use IAS / IFRS (International Accounting Standards / International Financial Reporting Standards)
FINREP taxonomy is an extension of the IFRS-GP taxonomy (developed by the International Accounting Standards Committee Foundation - IASCF)
FINREP Taxonomy 1.0 dated
Current version: 1.2 (dated )

9. Goals of COREP and FINREP
At first, the goal was the pure development of working taxonomies
Early need to integrate European supervisors („end-users“) in the development process
Three different types of goals now:
Technical goal
Allocation of taxonomies
Business goal:
Encourage / support national supervisors in their XBRL adoption
Use of synergy effects
„XBRL“ goal
Create awareness for XBRL capabilities and benefits across Europe
Help in developing the standard according to the project‘s needs

10. Short Summary of FINREP COREP and FINREP in Europe Today
Agenda
Short Summary of COREP
Short Summary of FINREP
COREP and FINREP in Europe Today
Status and Future of the Projects

11. COREP/FINREP in Spain
Spain

12. SIIF: XBRL system of the Bank of Spain
2005: System of interchange of financial information (SIIF)
2006: SIIF is improved to support the New Basel’s Accord Solvency Information
National Bank
Only XBRL
XBRL is the only format allowed, but providing a translation tool
Entities to consider providing XBRL directly
Translation tool must be maintained
xbrl
xbrl
xbrl
Financial
entity
Financial
entity
Financial
entity
txt

13. Services being provided
Providing helper services
Instance validation service
Instance visualizing service
Taxonomy dictionary browser
Taxonomy browser
Spanish COREP:
Commercial XBRL engine for validation
Visualization based on XSLT, but using the API of the XBRL engine
Bank of Spain:
One entity and one period per instance document
Front-end
Javascript
XSLT
Javascript
XSLT
Financial Entity
HTML
XSLT
Processor
XBRL
XSLT

14. COREP/FINREP in the Netherlands

15. e-Line: generic solution for reporting of the Bank of the Netherlands
National
Statistics
Bureau
Departments
Data-entry
Internet
Plausibility
Data warehouse
ECB
Data
transmission
Quality
checks
Storage
Publication
BIS
Eurostat
XML
Mathematical
Government
XBRL

16. e-Line: Support for reporting entities
Overview of reports DNB to be delivered
Fill out reports
data-entry
Importing: XML, XBRL
Quality checks: technical and business rules
Export to Excel / PDF
Multi-user handling

17. Sample data entry form of a COREP template

18. e-Line: support for interested national banks in Europe
e-Line provides:
an web-based tool
possibilities to adjust the design to the corporate design of the national bank
possibilities to create own reporting forms
support for any language
an overview of the reporting progress
data storage
back-up facilities
adjustments on reports
security (PKI = Public Key Infrastructure)
interfaces to back office systems
reporting progress (who is late?)
re-reporting, correct data, add comments, comparisons
changing the status
PKI facilitates:
Login handling
Workstation independency
Digital signature with reports
DNB uses authentication based on userid and password
Strong authentication (e.g. with smartcard) easy to implement

19. COREP/FINREP in Belgium

20. CSSR: Central Server for Statistical Reporting
Requirements:
User friendly for small companies filling in statistical forms
Full automation capabilities for big companies using XBRL, XML, file transfer in a complex IT environment with a very high level of security

21. CSSR: Central Server for Statistical Reporting
The solution
a single IT software tool
implemented on server(s) connected to the Internet
dedicated to all kinds of statistical and prudential reports
used by all kinds of reporting agents (financial, non-financial, public, private, big or small companies)
to report to different authorities (central bank, supervisors, NSI)

22. Sample data entry form of a COREP template

23. CSSR: support for interested national banks in Europe
single software
multi-reporting agents & multi-users
multi-domains, multi-surveys, multi-forms based on XBRL
multilevel functionalities (small or big companies)
multilevel security
multilingual
multi-authorities (National Bank, Supervisor, National Accounts)
only used by Belgian authorities
==> Why not widen the use of CSSR to other authorities in charge of statistical & prudential data collection?

24. Back to EUROPE Blue  means XBRL is compulsory, optional or planned
Brown  these countries will definitely use other formats
Light-blue  will maybe implement in the future, representatives took part in the workshops
Gray  the CEBS has no information about the adoption of COREP/FINREP or its implementation

25. Short Summary of FINREP COREP and FINREP in Europe Today
Agenda
Short Summary of COREP
Short Summary of FINREP
COREP and FINREP in Europe Today
Status and Future of the Projects

26. How to support the national developments?
Weekly Conf. Call
Yahoogroups 300+
Workshops:
7 editions *
70+ attendees
Core Team:
Supervisors
DE, ES, IT, BE, GR +
Non Supervisors
Website, News &
Communication

27. How to enhance XBRL for the needs of the European supervisors?
Formula Linkbase
Formulas should be part of the taxonomy.
Calculation linkbase is too limited for supervisory needs.
Different national solutions for same problem.
Integration in national taxonomy-extensions
Development at application-level
Versioning
Documentation on changes:
on the base taxonomies
on different versions of the extension taxonomies
between two extension taxonomies?

28. How to enhance XBRL for the needs of the European supervisors?
Weekly Conf. Call
Yahoogroups 300+
Workshops:
7 editions *
70+ attendees
Core Team:
Supervisors
DE, ES, IT, BE, GR +
Non Supervisors
Website, News &
Communication
Participation in the Working Groups
of XBRL International

29. Thank you for your attention!
Questions
Thank you for your attention!
Time for your questions!