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1 COREP-FINREP Luxembourg Situation, Status November 2007 E. Bartolé IT Coordinator CSSF, Luxembourg November 6th 2007.

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Presentation on theme: "1 COREP-FINREP Luxembourg Situation, Status November 2007 E. Bartolé IT Coordinator CSSF, Luxembourg November 6th 2007."— Presentation transcript:

1 1 COREP-FINREP Luxembourg Situation, Status November 2007 E. Bartolé IT Coordinator CSSF, Luxembourg November 6th 2007

2 2 Status of COREP/FINREP LU COREP + FINREP: Version 1.0 published on 2007-09-25 (Circular 07/319; www.cssf.lu) Corep individual: http://www.cssf.lu/index.php?id=204&L=1 Corep consolidated:http://www.cssf.lu/index.php?id=205&L=1 Finrep (ind. & consol.):http://www.cssf.lu/index.php?id=206&L=1 Mandatory

3 3 XBRL reports StatutoryConsolidatedContent Stat. – Cons.F / CCebs B 1.1B 6.1Balance SheetIdenticalFINREPYes B 2.1B 6.2Profit & LossIdenticalFINREPYes B 1.2-Currency positions-COREPNo B 1.5-Liquidities-FINREPNo B 1.6B 6.6Auxiliary information to balance sheetClose toFINREPNo B 2.4-Participating interests & subordinated loans-FINREPNo B 2.5B 6.7Auxiliary information to profit & lossSame asFINREPNo B 1.4B 6.413 of the COREP taxonomies (core)Close toCOREPNo (Core)

4 4 Versions Finrep 1.2 monolithic Corep 1.2.4

5 5 Issues Few prudential reports (e.g. B2.3, B6.3) and all statistical reports still in old Edifact format Prudential reporting IFRS, Statistical reporting LUX-GAAP

6 6 More issues Compatibility to european implementations of Finrep / Corep Accounting scheme change left no possibility for gradual approach or transition period

7 7 The next steps III 2008IV 2007I 2008 Lux. COREP & FINREP reporting Lux. COREP & FINREP implement- ation phase Lux. FINREP reporting II 2008 Edifact (2007 data) (Edifact B2.3+B6.3) FINREP (monthly) Lux. COREP & FINREP reporting FINREP &COREP (quartlerly)


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