XBRL in Europe Olivier Servais, XBRL in Europe – Permanent Secretary XBRL Intl Steering Committee – Member Friday, 3 June 2005 for COREP

CEBS - XBRL COREP Steering Committee Friday, 3 June 2005 Agenda Whos driving XBRL & What is XBRL in Europe? Overview of XBRL projects (not only) in Europe Next challenges X what ? In Europe ? Whos driving XBRL & What is XBRL in Europe? Overview of XBRL projects (not only) in Europe Next challenges

after term expires International Steering Committee Chair: Kurt Ramin International Steering Committee Chair: Kurt Ramin Board of Advisors (5 to 19 members) Not Yet Established 1 st Vice Chair Paul Penler 1 st Vice Chair Paul Penler 2 nd Vice Chair Walter Hamscher 2 nd Vice Chair Walter Hamscher Executive Committee* (7 members) elects appoints Immediate Past ISC Chair Vacant Immediate Past ISC Chair Vacant member of ISC chair elects ISC Seat Key No Seat on ISC **Standing ISC Representatives At Large Representatives Michael Ohata* Vincent Bert Mike Willis Walter Hamscher John Turner Makoto Koizumi Hugh Wallis President ** Louis Matherne President ** Louis Matherne Olivier Servais Established Jurisdiction Representatives CA Bill Swirsky CA Bill Swirsky AU Paul Phenix AU Paul Phenix IASB Kurt Ramin IASB Kurt Ramin NZ Graeme Sinclair NZ Graeme Sinclair UK Chris Rodgers UK Chris Rodgers DE Norbert Flickinger DE Norbert Flickinger US Paul Penler* US Paul Penler* JP Eiichi Watanabe * JP Eiichi Watanabe * NL Jan Pasmooij NL Jan Pasmooij IR Conor OKelly IR Conor OKelly SP Federico Florez * SP Federico Florez * * At Large EC Representation from ISC XBRL international Governance & Operational structure Provisional Jurisdictions Korea Sweden Belgium France Denmark

ISC Subcommittees & Product Development Team International Steering Committee Chair: Kurt Ramin International Steering Committee Chair: Kurt Ramin Executive Committee Working Groups Solutions Chair: Michael Ohata Vice Chair: Paul Snijders Solutions Chair: Michael Ohata Vice Chair: Paul Snijders Domain Chair: Josef MacDonald Vice Chair: Marc van Hilvoorde Domain Chair: Josef MacDonald Vice Chair: Marc van Hilvoorde Basel II Chair: Daniel DAmico Basel II Chair: Daniel DAmico Assurance Chair: Jan Pasmooij Vice Chair: Bill Swirsky Assurance Chair: Jan Pasmooij Vice Chair: Bill Swirsky Accounting Chair: Daniel Roberts Vice Chair: open Accounting Chair: Daniel Roberts Vice Chair: open General Ledger Chair: Hugh Wallis Vice Chair: Diane Mueller General Ledger Chair: Hugh Wallis Vice Chair: Diane Mueller Finance Subcommittee Chair – Kurt Ramin Finance Subcommittee Chair – Kurt Ramin Nominating Subcommittee Chair – Bill Swirsky Vice Chair – Conor OKelly Nominating Subcommittee Chair – Bill Swirsky Vice Chair – Conor OKelly Bylaws Subcommittee Chair - Hugh Wallis Bylaws Subcommittee Chair - Hugh Wallis Jurisdev Subcommittee Chair – Liv Watson Vice Chair: open Jurisdev Subcommittee Chair – Liv Watson Vice Chair: open * Louis Matherne, President Marisa Chung, Business Development & Operations Manager Tracey Tarinelli, Program Manager Peter Calvert, Web Content Manager (contract) * Louis Matherne, President Marisa Chung, Business Development & Operations Manager Tracey Tarinelli, Program Manager Peter Calvert, Web Content Manager (contract) Product Development Team Chair – Walter Hamscher Product Development Team Chair – Walter Hamscher XII Staff* Advisory Board Selection Subcommittee Chair – Mike Willis Vice Chair – Olivier Servais Advisory Board Selection Subcommittee Chair – Mike Willis Vice Chair – Olivier Servais Specification Chair: Paul Warren Vice Chair: Cliff Binstock Specification Chair: Paul Warren Vice Chair: Cliff Binstock XBRL Intl Governance & Operational structure

CEBS - XBRL COREP Steering Committee Friday, 3 June 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

Established EstablishedIrelandGermanySpain The Netherlands United Kingdom Provisional ProvisionalSwedenBelgiumDenmarkFrance In construction In construction Czech Republic FinlandHungaryPolandPortugalLuxembourg In project In project Slovenia, Austria, Italy, Greece, Estonia, Norway, Malta + Turkey XBRL in Europe Jurisdictions

Acknowledged AcknowledgedGermanySpain The Netherlands United Kingdom In construction BelgiumFranceIrelandSweden Local GAAP taxonomy

CEBS - XBRL COREP Steering Committee Friday, 3 June 2005 Agenda Whos driving XBRL & What is XBRL in Europe? Overview of XBRL projects (not only) in Europe Next challenges Whos driving XBRL & What is XBRL in Europe? Overview of XBRL projects (not only) in Europe Next challenges

National UK Inland Revenue UK Financial Services Authority UK Companies House Datev/Bundesbank Danish Commerce & Companies (DCCA) Bank of Spain Bank of Belgium – Balance sheet office Belgian Banking supervisors Dutch Water Boards Dutch Statistics agency (CBS) Dutch government Pan-european XBRL in Europe – FP6 ICISA (CRAS group) Eurostat (feasability study) IASB CEBS – COREP (Basel II) 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 regs 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 (Tax on web) Collection of raw data Statistical process Awareness & Evaluation Review of process 210,000/yearTBD Collection of raw dataAwareness Evaluation 210,000/yearTBD

The Dutch Taxonomy Project Taxonomy for Dutch financial reporting Annual accounts Taxes Financial statistics Issues: Identifying companies Reporting frequency Types of reports and status Audit reports Interdepartmental project Ministry of Justice Ministry of Finance

Architecture Dutch Tree Domain specific Form sets Per subject / target group IFRS Sets Taxes Statistics … IFRS Waiver taxonomy GEN-Base Generic Elements Netherlands DataTypes Elements annual account Relations Report Sets DataTypes (RJ) Relations

Business case

Status of project In progress Standardization of context information Further normalization Chain testing by performing a business case Letter of intent by all stakeholders First test release of the Dutch Taxonomy is now available! User: taxonomie01 - Pass: boston

CEBS - XBRL COREP Steering Committee Friday, 3 June 2005

CEBS - XBRL COREP Steering Committee Friday, 3 June Banks FDICOCCFRBOTSNCUA Quarterly information comprised of 2,000 fields described in 400 pages of instructions Multiple copies of data exist inside multiple agencies (error prone) Avg. of days to receive, validate + publish filings (not timely) Estimated processing costs over next 10 years - $65 million (costly) March 2003 reports had nearly errors that needed to be corrected (integrity issues) basic math errors quality (validation) errors Federal Deposit Insurance Corporation - Today

CEBS - XBRL COREP Steering Committee Friday, 3 June Banks FDICOCCFRBOTSNCUA FFIEC All of this can be boiled down into a fairly modernized process with XBRL. On the back end, 1,500 formulas promote data quality (timeliness/flexibility) Filers required to submit data in XBRL format over the web (automation) Multiple sources of data => SINGLE SOURCE (integrity) Processing Time days => 32 Days (timeliness) Processing Costs $65M => $39M, a savings of $26M (cost/efficiency) Cost savings to the U.S. banking agencies accrue when the system is extended to other data series Federal Deposit Insurance Corporation - Future

18 Operational launch is planned for the third quarter – October 1, 2005 Additional information available at:

CEBS - XBRL COREP Steering Committee Friday, 3 June 2005 Agenda Whos driving XBRL & What is XBRL in Europe? Overview of XBRL projects (not only) in Europe Next challenges Whos driving XBRL & What is XBRL in Europe? Overview of XBRL projects (not only) in Europe Next challenges

CEBS - XBRL COREP Steering Committee Friday, 3 June 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 CEBS Hosts : XBRL in Europe, with CEBS Keynote speakers: José Maria Roldan (Chairman of Committee of European Banking Supervisors), Pierre-Yves Thoraval (Member of Basel Committee), Peter Praet (Member of the Board of CBFA), Tom Jones (Vice-Chairman of IASB) and representatives of the European Commission and banks (Deutsche Bank, San Paolo IMI + Borsa Italiana) Keynote speakers: José Maria Roldan (Chairman of Committee of European Banking Supervisors), Pierre-Yves Thoraval (Member of Basel Committee), Peter Praet (Member of the Board of CBFA), Tom Jones (Vice-Chairman of IASB) and representatives of the European Commission and banks (Deutsche Bank, San Paolo IMI + Borsa Italiana) When: 29 June – When: 29 June – Where: Chartered Accountants Hall, London Where: Chartered Accountants Hall, London Size: 200+ attendees Size: 200+ attendees Audience profile: Bankers and supervisors Audience profile: Bankers and supervisors

CEBS - XBRL COREP Steering Committee Friday, 3 June 2005

CEBS - XBRL COREP Steering Committee Friday, 3 June st European XBRL Conference for Financial Services Supervisors 24 Banks 15 Consulting & SW vendors 25 Press3 Others30

CEBS - XBRL COREP Steering Committee Friday, 3 June 2005 European Banking Supervisors XBRL Roundtable The concept Purposes : Purposes : Help to supervisors to decide that XBRL is of use for them within COREP/FINREP, and then to implement XBRL for COREP & FINREP at national level Help to supervisors to decide that XBRL is of use for them within COREP/FINREP, and then to implement XBRL for COREP & FINREP at national level Provide technical background & knowledge in order to implement XBRL Provide technical background & knowledge in order to implement XBRL Duration & form: 3-4 days Workshop, by mid-September Duration & form: 3-4 days Workshop, by mid-September Audience : supervisors only (+ guests), involved in XBRL COREP/FINREP projects, on invitation only Audience : supervisors only (+ guests), involved in XBRL COREP/FINREP projects, on invitation only Location: Brussels (premises TBD) Location: Brussels (premises TBD) Costs: Costs: Organisational: covered by XiE Organisational: covered by XiE Real costs (accom, trainers…): covered Real costs (accom, trainers…): covered by participants/CEBS

CEBS - XBRL COREP Steering Committee Friday, 3 June 2005 European Banking Supervisors XBRL Roundtable Agenda Day 1: What is the COREP/FINREP XBRL project(s) Day 1: What is the COREP/FINREP XBRL project(s) Hands on XBRL basics for supervisors Hands on XBRL basics for supervisors Day 2: How to implement COREP/FINREP with XBRL Day 2: How to implement COREP/FINREP with XBRL Strategies, tools, converters and IT environment Strategies, tools, converters and IT environment Day 3 am: Customizing COREP/FINREP at national level Day 3 am: Customizing COREP/FINREP at national level Day 3 pm: Software vendors presentation Day 3 pm: Software vendors presentation Day 4 am: Internal roundtable (Supervisors only) Day 4 am: Internal roundtable (Supervisors only)

CEBS - XBRL COREP Steering Committee Friday, 3 June 2005 Next challenges for XiE Provide to FP6 the XiE commitments Provide to FP6 the XiE commitments Identify the next expectations : From why and who to how to, how much, how long (the EGG & GCD experiences with SGS) Identify the next expectations : From why and who to how to, how much, how long (the EGG & GCD experiences with SGS) Re-define the proper organization : on track Re-define the proper organization : on track Improve cooperation with legal representative bodies (CEBS- COREP, CESR, CEIOPS, IFAC-FEE, FESE-WFE…) : on track Improve cooperation with legal representative bodies (CEBS- COREP, CESR, CEIOPS, IFAC-FEE, FESE-WFE…) : on track Get new EC funds : on track Get new EC funds : on track Reach self-funding (without EC) : on track Reach self-funding (without EC) : on track Create XiE as a legal entity : on track Create XiE as a legal entity : on track

CEBS - XBRL COREP Steering Committee Friday, 3 June 2005 Thank you !