Presentation on theme: "The European Banking Authority: FINREP and COREP V2.0"— Presentation transcript:
1 The European Banking Authority: FINREP and COREP V2.0 19 June 2013 | LondonOwen Jones | CRR Taxonomy Project EBA
2 Table Groups - what is in, what is out Taxonomy structure – Modules DPM and XBRL data descriptions Examples of various types of tables Current progress, timeline. How are we doing it (process)
3 Understand Requirements EBA XBRL TaxonomyPrimary purpose: For data exchange from NSAs to EBARegulationsTransmit to EBAReport to NSADPMTemplatesTaxonomyTransmit to EBAInstructionsValidationsUnderstand RequirementsEBA Business expertsEBA IT expertsNSA IT expertsCredit InstitutionsMany NSAs will use substantially the same for 1st level reporting
4 EBA XBRL Taxonomy Very Dimensional 286 Primary Items 101 Dimensions, 1500 members43 of data points use only 1 dimension, none use 0Extensive use of table link baseFiling indicators used at table level
5 COREP FINREP The Frameworks Capital Adequacy Group Solvency Credit RiskIP LossesOperational RiskMarket RiskPrimary StatementsAssets & LiabilitiesFinancial Asset Disclosures & Off Balance SheetIncome & EquityFinancial & Non-Financial Disclosures, OBSLarge ExposuresLeverageLiquidity CoverageNet Stable FundingForbearanceNon-performanceAsset Encumbrance............
6 In XBRL One taxonomy / Two “taxonomies” Common dictionary – same concepts, same dimensions used to categorise thingsDifferent tables, different reporting units (modules).Large: 1800 files, 100MB
9 Templates vs Tables Table linkbase Rows/Columns/Sheets must have a unique set of dimensionsCells are defined by the combination at the intersectionExcel Templatesno restrictions, anything goesSometimes to model a template we need to switch the definition of a column for some rows.This means we need to break up tables into parts:
19 Open tables – RowsAlso open sheets – e.g. top N currencies/ top N countries
20 ITS Development: Iterative Process ...so farTemplatesAnalysisModelingStructurechecksDPM ExcelMetadataloadingQualitychecksDPM DatabaseMetadataextractionIn Progress ...DPM-XBRLGeneratorGenerationTest resultsXBRL Taxonomies
21 Current StatusEarly access version of the taxonomy is currently being reviewed by NSAs Receiving very useful feedback and corrections Awaiting final business changes to the DPM These will be incorporated, and a public consultation version prepared. Working to a loose target of end August for public consultation
22 Possible Concerns Extensive use of Table Linkbase Specification is still fluidImplementations are currently “patchy”The taxonomy being reviewed is based on the previous PWDVolume of data, size of instance files, complexity of tablesPerformance of toolsAvailability of tools suitable for the reporting processManual entry / tagging will not be plausibleIntegration with accounting / risk management / regulatory reporting systems needed
23 SoVendors and NSAsEnsure you are up to date with the Table Linkbase specEnsure your tools are ready for volume and complexityFilersEnsure you are planning aheadDevise suitable processesContact vendors.