COREP and FINREP Update 7th European Banking Supervisors XBRL Workshop COREP and FINREP Update Committee of European Banking Supervisors XBRL Network Katrin Schmehl Ignacio Boixo Brief update on the development in the COREP and FINREP-Projects Bundesbank Munich, 2007-05-09

Agenda COREP Taxonomies Version 1.2.1 to 1.2.4 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 Since October 2006 several updates on the COREP taxonomy Short introduction about the acknowledgement of procedure of management new taxonomy editions Short overview about the distribution of the CEBS taxonomies in Europe What is planned concerning a common repository A brief update about the personal situation in the core team Some words about the future processing in the project

COREP Taxonomies Version 1.2.1 to 1.2.4 COREP Taxonomy Version 1.2 Releases since October 2006: Version 1.2.1 (2006-10-06) Version 1.2.2 (2006-12-21) Version 1.2.3 (2007-02-02) Version 1.2.4 (2007-04-20) Necessary because of bugs found during the extension processes on national taxonomies Future changes on the COREP templates are planned Several new releases on the COREP taxonomies Resulting in resources for the adoption of these changes in several countries A new version is first announced in the yahoo group for comments One or two weeks published in the website Future changes on the templates will make new releases or versions on the taxonomies necessary

Documentation on changes All bugs fixed are described in detail on the website http://corep.info/corepTaxonomy/taxonomy.html All changes can be followed in a separate html page on the website Which taxonomy Which files are affected A short description about what has been changed Who found the bug And the severity severity High: impact on instances Medium: no impact on the instance itself but on the validation Low: change in labels, ids etc. no impact at all History of changes in the COREP-FINREP Technical Documentation Chapter 8: Changes and Updates

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 The CEBS acknowledged a procedure for preparing new editions of a taxonomy Reasons why a new edition is necessary are: Minimize the XBRL…  avoidance of cosmetically changes Avoid the need …  high impact on the preparation of instances Awareness of …  all versions should be available on the website independently although they contain bugs

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 <?taxonomy-version x.x.x?> A processing instruction is used to add the version number inside each file of a taxonomy so that systems can easily read this information

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: www.corep.info / www.finrep.info (as zip files) In the future: www.c-ebs.org (addressable at the URL: http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/vrl.1.2.4/[filename]) Why is it necessary to have access to prior editions?

Access to prior editions See Document CX-076: COREP and FINREP Taxonomies Management of new editions To be made soon available at www.corep.info Approved by the Subgroup of Reporting of the Committee of European Banking Supervisors Why is it necessary to have access to prior editions?

COREP and FINREP in EUROPE Blue  means XBRL is compulsory, optional or planned Brown  these countries will definitely use other formats Light-blue  will maybe implement in the future, representatives took part in the workshops Gray  the CEBS has no information about the adoption of COREP/FINREP or its implementation Very likely XBRL Definitely Other Format Interested in XBRL No information

Distribution of the COREP Taxonomy Country Taxonomy Version XBRL Belgium 1.2.4 Compulsory Bulgaria Planned - Cyprus 1.2.3 Germany Optional Spain 1.2.2 Finland France 1.2 Ireland Lithuania Luxembourg optional in 2007, compulsory in 2008 Netherlands Norway Poland 13 countries chose XBRL for the COREP reporting or support it beside their previous format

Distribution of the FINREP Taxonomy Country Taxonomy Version XBRL Belgium Belgian extension of FINREP version 1.2 Compulsory Bulgaria Planned - Germany France 1.0 Ireland Optional Lithuania Luxembourg Netherlands Poland 9 countries are working on the extension on the FINREP taxonomy www.corep.info for updates

Common repository on Extension Taxonomies Links of COREP as well as FINREP extension taxonomies are listed at www.corep.info and www.finrep.info Enables external parties to reach the extensions on CEBS taxonomies Publication also on the CEBS website www.c-ebs.org 4 countries have already sent links to their extension taxonomies Very helpful for external parties Please send a message to me or info@corep.info so that we are able to add a link to your extension taxonomy on the website Goal: common repository also on the CEBS website

Volunteers welcome! Participation www.corep.info and www.finrep.info are a single website with updated information Yahoo email 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!

Core Team at 2007-05-09 Panagiotis Voulgaris Michele Romanelli Ignacio Boixo Daniel Hamm Katrin Schmehl Marc Creemers Victor Morilla We have got a small team for al lot of tasks A lot of taxonomy reviewer in Europe because of the extension on the taxonomies # Please send us an email via the yahoo group when you find a typo, error etc. Regular newsletter about the news of CEBS taxonomies would be good also about the news in Europe Bug tracking tool and therefore someone who is responsible that the bugs are documented and solved in due time Takes not your full time but really helpful for the ongoing and maintenance or this project Patrick Amis Javi Mora Jacobo Varela

Changes in the formation of the core team Daniel Core team Magdalena Brief update of the personal situation in the core team Magdalena has left XBRL Spain and is now working for a Spanish software company She is being replaced by Javi who is now working for XBRL Spain since one month We have got an English proofreader who is also willing to take the minutes in the weekly conference calls Daniel has also left the department responsible for banking supervision and it is unclear how many time he is able to invest in XBRL Javi Colm [English Proofreader]

Challenges for supporters Control Version System Manager Taxonomy Reviewer Project Content Manager Webmaster Testing Manager Best Practices Editor Newsletter Editor Bug Tracking Manager We have got a small team for al lot of tasks A lot of taxonomy reviewer in Europe because of the extension on the taxonomies # Please send us an email via the yahoo group when you find a typo, error etc. Regular newsletter about the news of CEBS taxonomies would be good also about the news in Europe Bug tracking tool and therefore someone who is responsible that the bugs are documented and solved in due time Takes not your full time but really helpful for the ongoing and maintenance or this project Legal Adviser Taxonomy Acknowledgment Manager Tools Manager Formula WG Member Versioning WG Member

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

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

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