Presentation on theme: "Committee of European Banking Supervisors XBRL Network"— Presentation transcript:
1Committee of European Banking Supervisors XBRL Network 15th XBRL International ConferenceCOREP and FINREP: Start of real XBRL reporting in the European Banking SupervisionCommittee of European Banking Supervisors XBRL NetworkDaniel HammKatrin SchmehlBrief update on the development in the COREP and FINREP-ProjectsMunich,
2Short Summary of FINREP COREP and FINREP in Europe Today AgendaShort Summary of COREPShort Summary of FINREPCOREP and FINREP in Europe TodayStatus and Future of the Projects
3Short Summary of FINREP COREP and FINREP in Europe Today AgendaShort Summary of COREPShort Summary of FINREPCOREP and FINREP in Europe TodayStatus and Future of the Projects
5COREP: COmmon REPorting COREP: Dates & FactsCOREP: COmmon REPortingInitiative of the Committee of European Banking Supervisors (CEBS,End of 2004: Decision of CEBS to use XBRLJuly 2005: First Public Working Draft of DimensionsMarch 2006: COREP Taxonomy 1.0October 2006: Start of national extensions200420052006timeFebruary 2005: First European Banking Supervisors XBRL Workshop (Madrid)Start of taxonomy developmentSeptember 2005: III European Banking Supervisors XBRL Workshop (Brussels)First presentation of results to supervisorsSeptember 2006: Dimensions 1.0 RecommendationCOREP Taxonomy 1.2 (official release to build national extensions)
6Taxonomies represent 18 templates COREP: Dates & FactsTaxonomies represent 18 templatesOverview 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:
7Short Summary of FINREP COREP and FINREP in Europe Today AgendaShort Summary of COREPShort Summary of FINREPCOREP and FINREP in Europe TodayStatus and Future of the Projects
8FINREP: FINancial REPorting FINREP: Dates & FactsFINREP: FINancial REPortingFINREP: XBRL representation of the Financial Reporting Framework of the CEBSFINREP 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 datedCurrent version: 1.2 (dated )
9Goals of COREP and FINREP At first, the goal was the pure development of working taxonomiesEarly need to integrate European supervisors („end-users“) in the development processThree different types of goals now:Technical goalAllocation of taxonomiesBusiness goal:Encourage / support national supervisors in their XBRL adoptionUse of synergy effects„XBRL“ goalCreate awareness for XBRL capabilities and benefits across EuropeHelp in developing the standard according to the project‘s needs
10Short Summary of FINREP COREP and FINREP in Europe Today AgendaShort Summary of COREPShort Summary of FINREPCOREP and FINREP in Europe TodayStatus and Future of the Projects
12SIIF: 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 InformationNational BankOnly XBRLXBRL is the only format allowed, but providing a translation toolEntities to consider providing XBRL directlyTranslation tool must be maintainedxbrlxbrlxbrlFinancialentityFinancialentityFinancialentitytxt
15e-Line: generic solution for reporting of the Bank of the Netherlands NationalStatisticsBureauDepartmentsData-entryInternetPlausibilityData warehouseECBDatatransmissionQualitychecksStoragePublicationBISEurostatXMLMathematicalGovernmentXBRL
16e-Line: Support for reporting entities Overview of reports DNB to be deliveredFill out reportsdata-entryImporting: XML, XBRLQuality checks: technical and business rulesExport to Excel / PDFMulti-user handling
18e-Line: support for interested national banks in Europe e-Line provides:an web-based toolpossibilities to adjust the design to the corporate design of the national bankpossibilities to create own reporting formssupport for any languagean overview of the reporting progressdata storageback-up facilitiesadjustments on reportssecurity (PKI = Public Key Infrastructure)interfaces to back office systemsreporting progress (who is late?)re-reporting, correct data, add comments, comparisonschanging the statusPKI facilitates:Login handlingWorkstation independencyDigital signature with reportsDNB uses authentication based on userid and passwordStrong authentication (e.g. with smartcard) easy to implement
20CSSR: Central Server for Statistical Reporting Requirements:User friendly for small companies filling in statistical formsFull automation capabilities for big companies using XBRL, XML, file transfer in a complex IT environment with a very high level of security
21CSSR: Central Server for Statistical Reporting The solutiona single IT software toolimplemented on server(s) connected to the Internetdedicated to all kinds of statistical and prudential reportsused by all kinds of reporting agents (financial, non-financial, public, private, big or small companies)to report to different authorities (central bank, supervisors, NSI)
23CSSR: support for interested national banks in Europe single softwaremulti-reporting agents & multi-usersmulti-domains, multi-surveys, multi-forms based on XBRLmultilevel functionalities (small or big companies)multilevel securitymultilingualmulti-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?
24Back to EUROPE Blue means XBRL is compulsory, optional or planned Brown these countries will definitely use other formatsLight-blue will maybe implement in the future, representatives took part in the workshopsGray the CEBS has no information about the adoption of COREP/FINREP or its implementation
25Short Summary of FINREP COREP and FINREP in Europe Today AgendaShort Summary of COREPShort Summary of FINREPCOREP and FINREP in Europe TodayStatus and Future of the Projects
26How to support the national developments? Weekly Conf. CallYahoogroups 300+Workshops:7 editions *70+ attendeesCore Team:SupervisorsDE, ES, IT, BE, GR +Non SupervisorsWebsite, News &Communication
27How to enhance XBRL for the needs of the European supervisors? Formula LinkbaseFormulas should be part of the taxonomy.Calculation linkbase is too limited for supervisory needs.Different national solutions for same problem.Integration in national taxonomy-extensionsDevelopment at application-levelVersioningDocumentation on changes:on the base taxonomieson different versions of the extension taxonomiesbetween two extension taxonomies?
28How to enhance XBRL for the needs of the European supervisors? Weekly Conf. CallYahoogroups 300+Workshops:7 editions *70+ attendeesCore Team:SupervisorsDE, ES, IT, BE, GR +Non SupervisorsWebsite, News &CommunicationParticipation in the Working Groupsof XBRL International
29Thank you for your attention! QuestionsThank you for your attention!Time for your questions!