Presentation on theme: "XBRL in Santander Group"— Presentation transcript:
1 XBRL in Santander Group Amsterdam, november 6th, 2007Confidential and Proprietary
2 IndexQuick update on the action items carried out this year towards a Santander Group corporative XBRL reporting framework.Current problems facing XBRL COREP adoptionQuestions and Answers to the next COREP/FINREP XBRL evolution and challenges
3 Corporate Plan – XBRL Projects – Milestone Summary XBRL Financial StatementsInvolved in the SIIF project for XBRL exchange jointly with the Bank of Spain(Santander) 2005 June(Banesto) May 2006(SCF) May 2006FINREP and Formula information projectBank of SpainXBRL Pilot Project internal reportingDepartmentmar.2006Risk information projectBasel II COREP to Bank of SpainQ3-Q4 2008200520062007Q4Q1Q2Q3Q4Q1Q2Q3Q4sep. 2006XBRL Labs Department.develop and integrate XBRL components and services.Corporate XBRL ArchitectureFirst Production Release.XBRL ConversionXBRL ValidationSecurity & Comm. automation services.nov.2005XBRL WorkshopsCommunicate XBRL to the business units.Corporate XBRL Architecture2nd Production Release.XBRL Conversion XBRL Validation Sending automation services.End User report tracking systemVisualization Servicesjun.2006Corporate XBRL ArchitectureThe XBRL Reference Architecture for Corporate Reporting is defined.aug. 2007Corporate XBRL ArchitectureArchitecture component design and development.
4 Current Situation. Short Term Strategy. XBRL international consortium propose as strategy to diffuse the language firstly to the documents with financial information to enlarge it later on to the non financial informationAfter that the specifications will extend so that all the external financial documents (inside each jurisdiction, to develop extensions to the general or main taxonomy that reflect the particularities of the different activity sectors)Following the same strategy in the short term, the Santander Group will focus using XBRL for regulatory reporting purpose.InternationalXBRL StrategyExternal FinancialInformationInternal FinancialInternal Non-FinancialExternal Non-Financial
5 Technical Solution XBRL Corporate Reporting Platform First Production Release:Sending XBRL from the platform serverXBRL Conversion (Proprietary)XBRL Validation (Proprietary)XBRL Corporate RepositoriesUsing the server to control and monitor the information sent to the regulatorLoad TaxonomyLoad MapXBRLCONVERSORStore Instance36Regulatory BankingSupervisorProcessing WorkFlow245COMPRESSSECURITY1
6 Geographic Scope.Currently the geographic scope of the project is focused on spanish regulator, the evolution of the platform is being designed to allow other countries to apply to their local regulatory body standards as required in next years.CC Holding
7 Estados Financieros Públicos Geographic Scope.Regulatory reporting based on local supervisor level. Spain, UK, US…0049 – Banco Santander SCHEntidades representadas0011 AllFunds Bank0036 Santander Investment0073 Open Bank Santander Consumer0086 BANIF0091 Banco de AlbaceteEstados Financieros Públicos1 informe mensual5 informes trimestrales2 informes anualesEn Total 34 Informesal año por entidad578 informes XBRL al año0030 – Banco Español de Crédito Banesto0038 – Banesto Banco de Emisiones0083 – Banco AlicantinoEstablecimientos Financieros (EFC)0224 – Santander Consumer Finance8236 – Santander Consumer EFC4784 – Transolver Finance8814 – Accordfin España8490 – Santana Credit8906 – Santander Factoring y Confirming4757 – BANSALEASE EFC4797 – Santander de Leasing EFC
8 Current problems facing XBRL COREP adoption Each country is adopting/extending COREP framework in a different approach.This would cause additional efforts in the corporate in order to adapt to each country regulatory requirements. Mapping data between different taxonomies.(reusing reporting information)The different versions each regulator is using to extend their local taxonomies is an additional issue to be solved in next steps of COREP evolution (supported with the new Versioning specification and software/integration for the reporting platform).Report/View Oriented taxonomy vs. DataModel oriented taxonomyCOREP approach increase the efforts to render the information reported and to duplicate elements in different reports.Modularization and Performance issues is advised to improve in next COREP/FINREP versions.
9 Questions and Answers to the next COREP/FINREP XBRL How is Santander Group XBRL reporting estrategy with COREP?Santander Group is pushing the XBRL standard at medium speed in order to comply to regulatory requirements in this short term (local spanish regulators at this moment) using a reporting platformThe medium/long term is to evolve the corporate reporting solution, As soon as requirements grow to adapt the IT integrated systems to those needs.How is accomplish the C-EBS and COREP project according to the regulatory reporting situation?It is handling the project at enough speed to accomplish the goal.The complexity of the ellaboration proccess to collect and report the information required is higher than expected.Simplify the XBRL taxonomy, a real common framework to produce the report once and deliver to any regulators is a goal.Interoperability and performance is desired to facilitate the IT systems integration