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COREP/FINREP Taxonomies Way forward XI European Banking Supervisors XBRL Workshop Vienna, 18 th November 2009 Ignacio Boixo CEBS XBRL Operational Network.

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Presentation on theme: "COREP/FINREP Taxonomies Way forward XI European Banking Supervisors XBRL Workshop Vienna, 18 th November 2009 Ignacio Boixo CEBS XBRL Operational Network."— Presentation transcript:

1 COREP/FINREP Taxonomies Way forward XI European Banking Supervisors XBRL Workshop Vienna, 18 th November 2009 Ignacio Boixo CEBS XBRL Operational Network

2 European Collaborative Framework Weekly Conf. Call list 300+ Workshops: 11 editions 70 attendees each Website, News & Communication Core Team: Supervisors BE, DE, ES, FR, IT, LU... + Non Supervisors Budget: 0 /year

3 EU support for FINREP XBRL developments 59,000 in 2009: XBRL Spain, BR-AG, Aquilonious This project is made possible with the financial assistance of the European Union This project can under no circumstances be regarded as reflecting the policies of the European Union

4 IT harmonized reporting Internet ready format Large reports: Full COREP have 40,000 cells Compact: Tables/cells as Excel Validation: Validation also at sender side Change management: New and deleted cells Mapping between Reports and Databases Coherence between supervisory and IT views

5 Why XBRL? XML stands for eXtensible Markup Language. XML is designed to transport and store data. XBRL stands for eXtensible Business Reporting Language, but XBRL should be better understood as: e X tension for B usiness R eporting of XM L

6 e X tension for B usiness R eporting of XM L Working together: Supervisors, Banks, Software, Consultants… National, European, International… IT people, accountants, supervisors… A solution based on standards and developed using methodology for standards (public exposure, acceptation…) would eventually be adopted as an standard A solution based on standards but developed without methodology for standards would remains proprietary.

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8 FINREP/COREP XBRL ROADMAP FINREP templatesFrozen! Architecture decisionsAgreed! Matrix SchemaReady! Formal Data ModelNovember09 Architecture referenceDecember09 FINREP Taxonomy (Proof of concept) January09 Final FINREP/COREP templates2010, 2011 Final FINREP/COREP Taxonomies2010, 2011 Systems changes/testing (1 year)2011, 2012 Go live2012, 2013

9 Rome, April 2010 Put these dates in your diary: XBRL International Conference 19 th -23 rd European Banking Supervisors XBRL Workshop (tentative) Friday 23 rd

10 Financial Information Bridge Financial Markets Information Society RegulationInternetPeopleBanks FMIs XBRL

11 The XBRL Network of the Ignacio Boixo


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