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COREP and FINREP Update Committee of European Banking Supervisors XBRL Network Katrin Schmehl Ignacio Boixo Bundesbank Munich, 2007-05-09 7th European.

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Presentation on theme: "COREP and FINREP Update Committee of European Banking Supervisors XBRL Network Katrin Schmehl Ignacio Boixo Bundesbank Munich, 2007-05-09 7th European."— Presentation transcript:

1 COREP and FINREP Update Committee of European Banking Supervisors XBRL Network Katrin Schmehl Ignacio Boixo Bundesbank Munich, th European Banking Supervisors XBRL Workshop

2 Agenda COREP Taxonomies Version to Bug fixing Management of new editions COREP and FINREP in Europe Distribution of the COREP Taxonomy Distribution of the FINREP Taxonomy Common repository on CEBS extension taxonomies Changes in the formation of the core team Future processing

3 COREP Taxonomies Version to COREP Taxonomy Version 1.2 Releases since October 2006: Version ( ) Version ( ) Version ( ) Version ( ) -Necessary because of bugs found during the extension processes on national taxonomies -Future changes on the COREP templates are planned

4 Documentation on changes All bugs fixed are described in detail on the website History of changes in the COREP-FINREP Technical Documentation Chapter 8: Changes and Updates

5 Management of new editions Evident need of a process to manage new edition because of: Bug fixing New business rules New XBRL specification New functionalities (i. e. formula linkbase) Terms to be kept: Minimize the XBRL impact of bug fixing Avoid the need of changing the namespace Awareness of different versions in national extension taxonomies

6 Numbering of new editions 3 level numbering system Instances are compatible new release change in the third level Instances are not compatible new version change in the first or second level (depending on major or minor functional changes) Changes on the namespace only for new versions each xml file of the taxonomy contains the release number

7 Access to prior editions Each supervisor may decide about the upgrade to a new edition Changes in the COREP taxonomy might not affect the national reporting process Changes are done on national level All CEBS taxonomy editions are kept available Currently: / (as zip files) In the future: (addressable at the URL: vrl /[filename] ) vrl /[filename

8 Access to prior editions See Document CX-076: COREP and FINREP Taxonomies Management of new editions To be made soon available at Approved by the Subgroup of Reporting of the Committee of European Banking Supervisors

9 COREP and FINREP in EUROPE Very likely XBRL Definitely Other Format Interested in XBRL No information

10 Distribution of the COREP Taxonomy CountryTaxonomy VersionXBRL Belgium1.2.4Compulsory BulgariaPlanned- Cyprus1.2.3Compulsory Germany1.2.3Optional Spain1.2.2Compulsory Finland1.2.3Optional France1.2Compulsory Ireland1.2Optional Lithuania-Compulsory Luxembourg-optional in 2007, compulsory in 2008 Netherlands1.2.3Optional Norway1.2.3Optional Poland1.2.3Compulsory

11 Distribution of the FINREP Taxonomy CountryTaxonomy VersionXBRL BelgiumBelgian extension of FINREP version 1.2 Compulsory BulgariaPlanned- GermanyPlanned- France1.0Compulsory Ireland1.0Optional Lithuania-Compulsory Luxembourg-Compulsory Netherlands1.0Optional Poland1.0Compulsory for updates

12 Common repository on Extension Taxonomies Links of COREP as well as FINREP extension taxonomies are listed at and Enables external parties to reach the extensions on CEBS taxonomies Publication also on the CEBS website

13 Participation and are a single website with updated information Yahoo lists are open for further participants in addition to the 300+ current participants Weekly conference call each Thursday at 10:30 a.m. (CET) Volunteers welcome!

14 Core Team at Ignacio Boixo Daniel Hamm Marc Creemers Javi Mora Michele Romanelli Katrin Schmehl Victor Morilla Jacobo Varela Panagiotis Voulgaris Patrick Amis

15 Changes in the formation of the core team Daniel MagdalenaCore team JaviColm [English Proofreader]

16 Challenges for supporters Project Content Manager Webmaster Newsletter Editor Legal Adviser Taxonomy Reviewer Testing Manager Best Practices Editor Bug Tracking Manager Versioning WG Member Formula WG Member Control Version System Manager Taxonomy Acknowledgment Manager Tools Manager

17 Intellectual Property COREP and FINREP are trade marks according to the European Law COREP and FINREP deliverables are copyrighted in favor of CEBS Secretariat Ltd., UK COREP and FINREP deliverables are made available free of cost to all European and not European XBRL practitioners COREP may be a starting point for other Basel II approaches Solvency II may take advantages on the developments made by COREP

18 Future processing Maintenance of the CEBS taxonomies Adoption of changes in the COREP and FINREP frameworks Bug fixing Participation in the Formula and Versioning WG Disseminating information about CEBS XBRL developments around Europe

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


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