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Sharing experiences of XBRL projects COREP/FINREP in France Sylvie LEPICIER XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October.

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Presentation on theme: "Sharing experiences of XBRL projects COREP/FINREP in France Sylvie LEPICIER XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October."— Presentation transcript:

1 Sharing experiences of XBRL projects COREP/FINREP in France Sylvie LEPICIER XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid

2 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Agenda XBRL France COREP FINREP in France Use Cases Issues and Solutions

3 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Institutions Compagnie nationale des Commissaires aux Comptes Secrétariat Général de la Commission Bancaire (Banque de France) Conseil National de la Comptabilité Conseil Supérieur de lOrdre des Experts Comptables INSEE Auditors PriceWaterhouseCoopers Financial data provider COFACE Companies–Non profit organisations BNP Paribas Edificas PSA Finance GE Factofrance OCBF Groupe Banque Populaire Groupe Caisse dépargne IT companies,Software providers, experts Atos Origin Integration Cartesis CEGID Microsoft France SopraGroup Software AG UBMatrix Invoke III - Umanis LGB Finance Viveo Fujitsu C. Marion XBRL France Members in 2006 (27 members)

4 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Not for profit organisation With Board and Steering Commitee Phillippe Bonnin - President Bruno Tesnière – Vice President Sylvie Lepicier – Treasurer Jean-Luc Menda – Member of the Board Gilles Maguet – Secretary General XBRL France – Legal Structure

5 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Taxonomy Working group French financial statements Taxonomy Working Group with the aim to set up a taxonomy according to French Gaap in coordination with Edificas organisation IFRS Taxonomy Working Group – Translation of the IFRS Taxonomy COREP/FINREP Working Group geared by Banking Commission in France Marcom Croup (events, marketing materials, breakfasts, newsletter, etc.) Technology Group in support to the other groups XBRL France – Working Groups

6 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid 1 st step : To Carry out the translation of 4000 elements names of the 2005 IFRS GP Taxonomy Process : a translation group has been set up between XBRL Belgium, NBB (National bank of Belgium), XBRL France, Banque de France, CNC (Conseil national de la Comptabilité – France) and IASB in July 2006 An intern appointed by XBRL France is in charge of this specific task The cross-checking is under process between CNC and NBB XBRL France – Translation of the IFRS Taxonomy (1/2)

7 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid To help the checking, all the labels are classified by accounting class (Balance sheet classified, BS liquidity, BS portfolio, Income statement by function, by nature,...) The FINREP translation is also taken into account A release in draft wil be probably available for mid october The final release should be ready for mid-november Next step : the translation and checking of the 2006 IFRS GP Taxonomy XBRL France – Translation of the IFRS Taxonomy (2/2)

8 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Agenda XBRL France COREP FINREP in France Use Cases Issues and Solutions

9 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Banking Regulatory Reporting in France Before June 2007 : Existing system $$ BAFI FR GAAP BAFI IFRS BAFI FR GAAP Monthly Quarterly … Annually SITU.CB : ….AAØØ1Ø3B5A………… ……… IFRS Banque de France (SGCB) Consolidated accounts Corporate accounts SGCB : Secrétariat général de la Commission Bancaire BAFI : Base des Agents Financiers, existing reporting system

10 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Regulatory Reporting in France After June 2007 : COREP FINREP $$ BAFI FR GAAP Banque de France (SGCB) (Quarterly) Semi-annually Annually BAFI FR GAAP BAFI IFRS COREP FINREP SGCB COREP SGCB IFRS

11 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Regulatory Reporting in France COREP FINREP Regulatory Requirement June st reporting in Paris Publication FINREP & COREP CEBS June 2006 Publication FINREP & COREP (last project) FRANCE Oct Deadline for transmission January 2006 (reduced)

12 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Agenda XBRL France COREP FINREP in France Use Cases Issues and Solutions

13 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Use case 1 French bank with international and european subsidiaries Macro-Analysis Dictionnary Pérennization Maintenance Project Management Fullfillment Intégration Mapping Gap treatment Sensibilisation Workshops ? ? ?

14 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Use case 1 The main questions at each step Lexical / Dictionnary : Questions : how to summarize all the regulations on COREP and FINREP and how to give a correct meaning for the understanding of each party within the bank French CB instruction (COREP in november and FINREP in June) CRD directives Basel 2 texts IRFS rules Questions/answers from French Banking Federation (FBF) and Banking Commission Local bank financial rules referential DICTIONNARY

15 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Use case 1 The main questions at each step Gap treatment Mapping : Once precisely defined the exact meaning of elements, find the way of mapping the data : Direct mapping : the data already exist in the accounting system or risk systems The data dont exist : gap analyses and treatment Examples : the breakdown by counterparty Risk cells for FINREP New breakdown (ex : 2 years for risk liquidity instead of 1, 3 and 5 years as before)

16 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Use case 1 The questions regarding the IT architecture for FINREP and COREP reporting Risk Management Data Accounting and consolidation system FINREP COREP ? ? Counterparties breakdown Prudential templates ? Subsidiaries Credit risk Risk Management Data Market risk Xls.xbrl files

17 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Use case 1 The questions regarding the IT architecture for FINREP and COREP reporting What is the best organisation to produce COREP and FINREP reportings ? Head of Finance and Heaf of Risk separately or the financial department, traditionnally in charge og the reporting tasks ? Which systems to use ? Legacy systems already operationnal for consolidation and risk management, both of them or a special XBRL tool ? Reporting systems already operationnal or a new XBRL system as a convertor/validator ? Which are the controls to enforce for : Reconciliation of risk data and accounting data Treatment of gap (COREP and FINREP data required and data available in both systems)

18 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Use case 1 The « state of art » regarding the IT architecture for FINREP and COREP reporting Most of the time, the financial department is in charge of reporting as before The data reconciliation between risk and acounting is viewed like as an important parameter in the project The choice of the XBRL tools (XBRL module of existing systems or new provider for convertor/validator) is still pending at this step

19 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Use Case 2 French bank specialised in consumer credit Business compliance Technology compliance Commission bancaire Master data base Susidiaries XBRL tools Outsourcing providers subsidiaries Accounting and consolidation systems XBRL Tools (viewer,…)

20 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Use Case 2 French bank specialised in consumer credit The main issues identified are : How to collect data from subsidiaries (which own their proprietray legacy IT system) partners (the bank has outsourced most of the back office management tasks) How to deal with subsidiaries In / outside Europe (COREP/FINREP and non COREP/FINREP) How to extent the XBRL tools through the whole bank

21 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Agenda XBRL France COREP FINREP in France Use Cases Transversal Issues

22 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid The main planning for COREP and FINREP reporting en France FINREP Semi-annual June Octobre 2007 December Avril 2008 COREP Quaterly if total of assets sup 80 milliards euros If not semi-annually June septembre 2008 December Mars 2008 NB : As of June about 15 statements have to be sent As of december about 27 statements 4 months 3 months 2 months 3 months

23 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Due to the reduction of remittance delay, speed up of data collection and processing are required Stream B : Closing process consistency Fast Close Speed up of data collection and processing New tasks to be handled Risk-accounting data reconciliation process and tool implementation Co-validation of RWAs Control of Regulatory reporting Collection and assembling of Credit, Market and Operational RWA ; new ratio calculation Stream B : Closing process consistency Fast Close Speed up of data collection and processing New tasks to be handled Risk-accounting data reconciliation process and tool implementation Co-validation of RWAs Control of Regulatory reporting Collection and assembling of Credit, Market and Operational RWA ; new ratio calculation New tasks to be handled Risk-accounting data reconciliation process and tool implementation Co-validation of RWAs Control of Regulatory reporting Collection and assembling of Credit, Market and Operational RWA ; new ratio calculation

24 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Dates to keep in mind at the European level Which agenda should be respected ? TCHEQUIE subsidiary AUSTRIA subsidiary France subsidiary Belgique Head-office Basel II : local options / calculation rules (counterparty types,…) First date / frequency : quaterly, remittance delay (down to 8 days ?), cells asked : all First date / frequency : quaterly, remittance delay (1 month), First date (june 2007)/ frequency : semi- annually, remittance delay (down to 2 months) First date (Finrep 2006, Corep 2008) Remittance delay : 40 days ? Example

25 Sylvie LEPICIER, XBRL France VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid Thank you Muchas gracias XBRL France 153, Rue de Courcelles Paris


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