Presentation is loading. Please wait.

Presentation is loading. Please wait.

COREP and FINREP: Start of real XBRL reporting in the European Banking Supervision Committee of European Banking Supervisors XBRL Network Daniel Hamm Katrin.

Similar presentations


Presentation on theme: "COREP and FINREP: Start of real XBRL reporting in the European Banking Supervision Committee of European Banking Supervisors XBRL Network Daniel Hamm Katrin."— Presentation transcript:

1 COREP and FINREP: Start of real XBRL reporting in the European Banking Supervision Committee of European Banking Supervisors XBRL Network Daniel Hamm Katrin Schmehl Munich, th XBRL International Conference

2 Agenda Short Summary of COREP Short Summary of FINREP COREP and FINREP in Europe Today Status and Future of the Projects

3 Agenda Short Summary of COREP Short Summary of FINREP COREP and FINREP in Europe Today Status and Future of the Projects

4 COREP Background Basel II Directives 2000/12 & 93/6 Country 1 FSA 1 Report 2Report Country 3Country 2Country 25 FSA 2FSA 3FSA 25 Report Report National Regulation Transposition into national Legislation European Law 9X,XX% Basel II compatible National Implementation XBRL challenge!

5 COREP: Dates & Facts End of 2004: Decision of CEBS to use XBRL February 2005: First European Banking Supervisors XBRL Workshop (Madrid) Start of taxonomy development July 2005: First Public Working Draft of Dimensions September 2005: III European Banking Supervisors XBRL Workshop (Brussels) First presentation of results to supervisors March 2006: COREP Taxonomy 1.0 September 2006: Dimensions 1.0 Recommendation COREP Taxonomy 1.2 (official release to build national extensions) October 2006: Start of national extensions time COREP: COmmon REPorting Initiative of the Committee of European Banking Supervisors (CEBS,

6 COREP: Dates & Facts Taxonomies represent 18 templates Overview 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:

7 Agenda Short Summary of COREP Short Summary of FINREP COREP and FINREP in Europe Today Status and Future of the Projects

8 FINREP: Dates & Facts FINREP: FINancial REPorting FINREP: XBRL representation of the Financial Reporting Framework of the CEBS FINREP 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 dated Current version: 1.2 (dated )

9 Goals of COREP and FINREP At first, the goal was the pure development of working taxonomies Early need to integrate European supervisors (end-users) in the development process Three different types of goals now: Technical goal Allocation of taxonomies Business goal: Encourage / support national supervisors in their XBRL adoption Use of synergy effects XBRL goal Create awareness for XBRL capabilities and benefits across Europe Help in developing the standard according to the projects needs

10 Agenda Short Summary of COREP Short Summary of FINREP COREP and FINREP in Europe Today Status and Future of the Projects

11 COREP/FINREP in Spain Spain

12 SIIF: XBRL system of the Bank of Spain 2005: System of interchange of financial information (SIIF) 2006: SIIF is improved to support the New Basels Accord Solvency Information National Bank Financial entity Financial entity Financial entity xbrl txt Only XBRL XBRL is the only format allowed, but providing a translation tool Entities to consider providing XBRL directly Translation tool must be maintained

13 Services being provided Providing helper services Instance validation service Instance visualizing service Taxonomy dictionary browser Taxonomy browser Spanish COREP: Commercial XBRL engine for validation Visualization based on XSLT, but using the API of the XBRL engine Bank of Spain: One entity and one period per instance document Financial Entity Front-end XSLT Javascript XSLT Processor XBRL XSLT HTML

14 COREP/FINREP in the Netherlands The Netherlands

15 e-Line: generic solution for reporting of the Bank of the Netherlands Publication Data transmission Storage Quality checks ECB BIS Eurostat National Statistics Bureau Government XML Data-entry XBRL Internet Mathematical PlausibilityData warehouse Departments

16 e-Line: Support for reporting entities Overview of reports DNB to be delivered Fill out reports data-entry Importing: XML, XBRL Quality checks: technical and business rules Export to Excel / PDF Multi-user handling

17 Sample data entry form of a COREP template

18 e-Line: support for interested national banks in Europe e-Line provides: an web-based tool possibilities to adjust the design to the corporate design of the national bank possibilities to create own reporting forms support for any language an overview of the reporting progress data storage back-up facilities adjustments on reports security (PKI = Public Key Infrastructure) interfaces to back office systems

19 COREP/FINREP in Belgium Belgium

20 CSSR: Central Server for Statistical Reporting Requirements: User friendly for small companies filling in statistical forms Full automation capabilities for big companies using XBRL, XML, file transfer in a complex IT environment with a very high level of security

21 CSSR: Central Server for Statistical Reporting The solution a single IT software tool implemented on server(s) connected to the Internet dedicated to all kinds of statistical and prudential reports used by all kinds of reporting agents (financial, non-financial, public, private, big or small companies) to report to different authorities (central bank, supervisors, NSI)

22 Sample data entry form of a COREP template

23 CSSR: support for interested national banks in Europe single software multi-reporting agents & multi-users multi-domains, multi-surveys, multi-forms based on XBRL multilevel functionalities (small or big companies) multilevel security multilingual multi-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?

24 Back to EUROPE

25 Agenda Short Summary of COREP Short Summary of FINREP COREP and FINREP in Europe Today Status and Future of the Projects

26 How to support the national developments? Weekly Conf. Call Yahoogroups 300+ Workshops: 7 editions * 70+ attendees Website, News & Communication Core Team: Supervisors DE, ES, IT, BE, GR + Non Supervisors

27 How to enhance XBRL for the needs of the European supervisors? Formula Linkbase Formulas should be part of the taxonomy. Calculation linkbase is too limited for supervisory needs. Different national solutions for same problem. Integration in national taxonomy-extensions Development at application-level Versioning Documentation on changes: on the base taxonomies on different versions of the extension taxonomies between two extension taxonomies?

28 Participation in the Working Groups of XBRL International How to enhance XBRL for the needs of the European supervisors? Weekly Conf. Call Yahoogroups 300+ Workshops: 7 editions * 70+ attendees Website, News & Communication Core Team: Supervisors DE, ES, IT, BE, GR + Non Supervisors

29 Questions Thank you for your attention! Time for your questions!


Download ppt "COREP and FINREP: Start of real XBRL reporting in the European Banking Supervision Committee of European Banking Supervisors XBRL Network Daniel Hamm Katrin."

Similar presentations


Ads by Google