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:
COREP/FINREP Taxonomies Way forward XI European Banking Supervisors XBRL Workshop Vienna, 18 th November 2009 Ignacio Boixo CEBS XBRL Operational Network
European Collaborative Framework Weekly Conf. Call e-mail 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
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
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
Why XBRL? XML stands for eXtensible Markup Language. XML is designed to transport and store data. www.w3schools.com/xml 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
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.