XBRL in Europe XBRL in Europe Projects, users and… Olivier Servais, XBRL in Europe – Permanent Secretary XBRL Int’l Steering Committee – Member Tuesday, 26 April 2005 Business cases

11th XBRL International Conference / Boston Tuesday, 26 April 2005 Agenda What is XBRL in Europe What is XBRL in Europe Overview of XBRL projects in Europe Overview of XBRL projects in Europe Next steps Next steps X what ? In Europe ? What is XBRL in Europe What is XBRL in Europe Overview of XBRL projects in Europe Overview of XBRL projects in Europe Next steps Next steps

11th XBRL International Conference / Boston Tuesday, 26 April 2005 Europe is The first economic power Expanding from 15 to 25 countries and from 300M to 500M inhabitants 20 official languages 7,000+ listed companies that reporting with 2+ GAAP (Local GAAP, IFRS, US GAAP) 26 stock exchanges The interest of the EC for XBRL (reporting, IFRS, new LL3 committees …) XBRL is at border-line between technology and finance Stage in the XBRL life cycle, to increase awareness and use Need to have dedicated resources on a neutral and permanent basis The ability for some to cooperate on a unique European project XBRL in Europe The Background

11th XBRL International Conference / Boston Tuesday, 26 April 2005 Theme : “Speeding up the development and adoption of XBRL in Europe” Supported by the 6th Framework Program : IST Networked businesses and governments Focus: Increase awareness Founding jurisdictions Internet Permanent secretariat Key features Neutral & Independent Two-way dialogue ICT dimension Infrastructure Outcome XBRL in Europe The Project

11th XBRL International Conference / Boston Tuesday, 26 April 2005 XiE is : 1.5 year effort to get the grant A project granted by the EC … for Europe An affiliate to XBRL Int’l A facilitator for creating and developing jurisdictions, increase awareness and speed up use A real neutral and independent player and is working for, and with, any player Two-year duration Just a start XiE is NOT : Piece of cake Generating any profit A legal entity nor a part of the EU Commission An XBRL Int’l member or new jurisdiction Able to give money. The money has to be expended by its members on a “pay-back” mechanism Chasing for any other grant nor competing with any other organisation An end “XBRL in Europe” The Rules

Established EstablishedIrelandGermanySpain The Netherlands United Kingdom Provisional ProvisionalSwedenBelgiumDenmark In construction In construction Czech Republic FinlandFranceHungaryItalyPolandPortugal In project In project Slovenia, Austria, Greece, Estonia, Norway, Luxemburg, Malta + Turkey JurisDev

Available AvailableGermanySpain United Kingdom BelgiumDenmark In construction In constructionFranceIrelandSweden The Netherlands Italy Local GAAP taxonomy

11th XBRL International Conference / Boston Tuesday, 26 April 2005 Agenda What is XBRL in Europe What is XBRL in Europe Overview of XBRL projects in Europe Overview of XBRL projects in Europe Next steps Next steps What is XBRL in Europe What is XBRL in Europe Overview of XBRL projects in Europe Overview of XBRL projects in Europe Next steps Next steps

National UK Inland Revenue UK Financial Services Authority UK Companies House Datev/Bundesbank Danish Commerce & Companies (DCCA) Bank of Spain – Banking Supervisor Agency for registrations of companies & balance sheet Spanish Stock Exchange Bank of Belgium – Balance sheet office Belgian Banking supervisors Dutch Water Boards Dutch Statistics agency (CBS) Dutch government Italian Stock Exchange (Borsa Italiana) MPS Net Pan-european XBRL in Europe – FP6 ICISA (CRAS group) Eurostat (feasability study) IASB CEBS – COREP (Basel II) & FINREP (IFRS) XBRL projects in Europe 30+ projects !

Projects and future applications in OrganisationApplicationProjectTarget Target date Balance sheet deposit Collection of raw data Statistical process Interface to other reg’s NBB taxonomy devpt Review the supply chain Review the process Reporting tool 270,000/yr1 Apr, 2007 Prudential & Financial control for Banks, insurances, investment firms, pension funds and listed companies Prudential (IFRS) Banking reporting (Schema A) Prudential Banking reporting (Basel II) Review the supply chain Review the process Every consolidated bank Every bank 1 Jan, Jan, 2007 Coordinating actions for banks IFRS Bank taxonomy devpt Review the supply chain Review the process Every bank 1 Jan, 2006 Balance sheet deposit Collection of raw data Statistical process Awareness & Evaluation Review of process 210,000/yearTBD Collection of raw dataAwareness Evaluation 210,000/yearTBD

11th XBRL International Conference / Boston Tuesday, 26 April 2005 UK : the Inland Revenue project Announcement as part of UK Budget on March 16. Announcement as part of UK Budget on March 16. Inland Revenue strategy is to reduce filing costs by moving businesses and their advisers online. Inland Revenue strategy is to reduce filing costs by moving businesses and their advisers online. Corporation Tax filings using XBRL will be in place by March Corporation Tax filings using XBRL will be in place by March Filings will consist of an XML return and XBRL calculations and financials. Filings will consist of an XML return and XBRL calculations and financials. IR is also looking at the use of intelligent-form technologies which are expected to tie closely into their use of XBRL. IR is also looking at the use of intelligent-form technologies which are expected to tie closely into their use of XBRL. This strategy has the full backing of HM Treasury and the Chancellor of the Exchequer. This strategy has the full backing of HM Treasury and the Chancellor of the Exchequer.

11th XBRL International Conference / Boston Tuesday, 26 April 2005 Contribution to IFRS FS taxonomy extensions Contribution to IFRS FS taxonomy extensions Financial statements to Bank of Spain Financial statements to Bank of Spain Pilot project at the Agency for registrations of companies & balance sheet Pilot project at the Agency for registrations of companies & balance sheet Spanish Stock Exchange Spanish Stock Exchange Recent new members: Recent new members: Ministry of Finance Ministry of Finance Ministry of Industry Ministry of Industry Tax Agency Tax Agency Projects and future applications in

11th XBRL International Conference / Boston Tuesday, 26 April 2005 Building an XBRL Solvency Ratio taxonomy Sponsored by the Committee of European Banking Supervisors Sponsored by the Committee of European Banking Supervisors COREP: defining a COmmon REPorting framework around the solvency ratio (Based on Basel II, Pillar I) for credit institutions and investment firms under the European Union Capital Requirements. COREP: defining a COmmon REPorting framework around the solvency ratio (Based on Basel II, Pillar I) for credit institutions and investment firms under the European Union Capital Requirements. Key features Key features Requirements for Flexibility, Consistency & Standardisation Requirements for Flexibility, Consistency & Standardisation Started in February 05, to be ended in June ’05 Started in February 05, to be ended in June ’05 50 people representing 22 countries involved 50 people representing 22 countries involved Deliverables Deliverables Initial COREP XBRL taxonomy Initial COREP XBRL taxonomy Set of non-confidential test cases Set of non-confidential test cases Basic collaborative environment Basic collaborative environment Further details on Further details on

Self-assessment MPSnet: il workflow

Borsa Italiana’s vision concerning XBRL NIS Excel (pre- defined) Adobe Intelligent Form (pre-defined) XBRL validator DBMSXMLXBRL instance builder Listed comps Borsa Italiana Errors msgs Borsa Italiana public website The instance document could also be sent to: Listed company’s website Info vendors Media Regulators Borsa Italiana view of XBRL

11th XBRL International Conference / Boston Tuesday, 26 April 2005 Credit Risk : the FLIPA project Credit Insurers and Business information suppliers team up to develop a joint framework over XBRL technology Credit Insurers and Business information suppliers team up to develop a joint framework over XBRL technology Sponsors : Sponsors : ICISA: International Credit Insurance and Surety Association ICISA: International Credit Insurance and Surety Association FEBIS: Federation of Business Information Services FEBIS: Federation of Business Information Services Deliverable Deliverable Generic taxonomy Generic taxonomy Multi-language Multi-language IFRS extension IFRS extension

April 2005 – XBRL International Conference – Boston USA Confidential e-Report on XBRL Sender, Product,... … Message information non-XBRL Key financial figures Busines s rating Credit recomm endatio n Negativ e events Envelop e header Related entities Entity Envelop e trailer Message information non-XBRL... XBRL-CRAS FLIPA taxonomy extract Deliverable: The FLIPA Taxonomy

April 2005 – XBRL International Conference – Boston USA Confidential CRAS FLIPA Taxonomy: Multi language support Creation by CRAS team Translation by Japanese Team (TSR, TDB+…) Translation by Lince - Italy Translation by Atradius Translation by Coface Intercredit

11th XBRL International Conference / Boston Tuesday, 26 April 2005 €350+ Millions

11th XBRL International Conference / Boston Tuesday, 26 April 2005 Agenda What is XBRL in Europe What is XBRL in Europe Overview of XBRL projects in Europe Overview of XBRL projects in Europe Next steps Next steps What is XBRL in Europe What is XBRL in Europe Overview of XBRL projects in Europe Overview of XBRL projects in Europe Next steps Next steps

XBRL in Europe Some learnings No reason anymore for not adopting XBRL No reason anymore for not adopting XBRL Specs are stable for 3 years Specs are stable for 3 years Solutions are available Solutions are available Political issues are … no longer issues Political issues are … no longer issues Financial services are one of the most pro-active, but securities and companies are on track too Financial services are one of the most pro-active, but securities and companies are on track too No need for imposing XBRL…XBRL is just an opportunity No need for imposing XBRL…XBRL is just an opportunity From “why and who” to “how to, how much, how long” (the EGG & GCD experiences) From “why and who” to “how to, how much, how long” (the EGG & GCD experiences) XiE was expected, it is now a reality, and it’s just the beginning of a longer story XiE was expected, it is now a reality, and it’s just the beginning of a longer story

11th XBRL International Conference / Boston Tuesday, 26 April st European XBRL Conference for Financial Services Theme : How XBRL will improve Financial Services reporting by 2006 Theme : How XBRL will improve Financial Services reporting by 2006 Hosts : XBRL in Europe, with the Committee of European Banking Supervisors (CEBS) and the European Banking Federation (FBE) Hosts : XBRL in Europe, with the Committee of European Banking Supervisors (CEBS) and the European Banking Federation (FBE) Keynote speakers: Jaime Caruana (Chairman of Basel Committee), José Maria Roldan (Chairman of Committee of European Banking Supervisors), Peter Praet (Member of the Board of CBFA), Tom Jones (Vice-Chairman of IASB) and representatives of banks Keynote speakers: Jaime Caruana (Chairman of Basel Committee), José Maria Roldan (Chairman of Committee of European Banking Supervisors), Peter Praet (Member of the Board of CBFA), Tom Jones (Vice-Chairman of IASB) and representatives of banks When: 29 June – When: 29 June – Where: Chartered Accountants Hall, London Where: Chartered Accountants Hall, London Size: Approximately 250 attendees Size: Approximately 250 attendees Audience profile: Bankers and supervisors Audience profile: Bankers and supervisors Book your diary !

11th XBRL International Conference / Boston Tuesday, 26 April 2005 Thank you, Merci, Dank u, Grazie, Obrigado, Danke, Tak, Tack, Takk, Gracias, ευχαριστώ, Köszönöm, Paldies, Aciu, …    