1. The European Banking Authority
Wolfgang Strohbach

2. Outline From CEBS to EBA Changes in the EU supervisory landscape
EBA tasks and responsibilities
EBA Reporting application
Technical Standard on uniform reporting formats
Scope and content
Timeline and deliverables 2 2

3. European System of Financial Supervision
EU central banks
EU supervisors
ESRB
ESFS
Joint Committee
EIOPA
EBA
ESMA
Macro
prudential
Micro
prudential 3

4. European Systemic Risk Board
The European Systemic Risk Board (ESRB) is an independent EU body responsible for the macro-prudential oversight of the financial system within the Union. Its seat is in Frankfurt am Main. Its secretariat is ensured by the ECB.
The ESRB contributes to the prevention or mitigation of systemic risks to financial stability in the Union that arise from developments within the financial system. It takes into account macroeconomic developments, so as to avoid periods of widespread financial distress.
EBA shall cooperate closely with the ESRB
EBA to provide necessary information
Follow up warnings and recommendations

5. European Banking Authority
European Banking Authority established 1 January 2011
Regulation (EU) No 1093/2010 of 24 November 2011
the EBA assumes all of the tasks and competences of CEBS and additional tasks.
Seat in London
Accountable to the European Parliament and the Council
Review Clause (2014 and all 3 years)
Committee of European Banking Supervisors (CEBS) was established in Nov 2003, CEBS ltd. Dissolved in 2011 5 5

6. The role of EBA – main objectives and tasks
Establishing EU single rule book
Promoting and enhancing quality and consistency of supervision
Reinforcing oversight of cross-border groups
Early warning of upcoming vulnerabilities
Effective early intervention and bank resolution
Main tasks:
Develop binding technical standards, guidelines, recommendations
Promoting common supervisory culture / supervisory practices
Peer group analyses and peer reviews
Monitoring effectiveness colleges
EU-wide risk assessments and stress tests
Risk dashboards
Reacting on risk warnings
Handling of emergency situations 6

7. EBA regulatory tasks Common rulebook EU Commission EBA
Maximum harmonisation
...but proportionate to different financial institutions
EU Commission
Sectoral Directives
CEBS/EBA role
provide advice
EBA
‘Implementing legislation’
EBA issuing guidelines and recommendations (as before)
Developing draft binding technical standards 7 7

8. Guidelines on Common Reporting (COREP)
Scope:
Solo and consolidated prudential information collected by national supervisors and based on EU Basel II implementation (CRD – 2006/48/EC and 2006/49/EC)
Objective:
develop a common language for communication in the context of a common European framework (convergence)
First released:
January 2006
CRD II amendments – Jan 2010
Structure:
core information (homogen)
standardised supplemental information (flexible)
extentable
Implementation in EU:
27 countries
2/3 of content

9. COREP rev3 – CRD III amendments
Amendments stemming from CRD III (resecuritisation, trading book)
 Templates affected: CA
CR SEC SA, CR SEC IRB, SEC Details
MKR SA TDI, MKR SA EQU, MKR IM, MKR IM Details
 Adding new templates
MKR SA SEC, MKR SA CTP

10. EBA oversight tasks 10

11. EBA data collection Portal Reporting application 11 Administration
NSA
Referential Data
Business card
UPLOAD
COREP & FINREP
XBRL, XML, CSV files
DOWNLOAD
Business Feedback
&
Reminders
Portal
Data reception, first level checks, feedback
EBA
Administration
COREP & FINREP
XBRL
Reporting review
Reporting application
Validation
Standard reports
Business card
Feedback 11

12. Reporting requirements – problem identification
Findings from problem identification in Europe
Legal differences: differences among national legislations (e.g. national discretions of CRD) and differences in accounting rules among Member States leading to diverging definitions  CRD IV, EU Parliament and Council, EU Commission
Reporting differences: Differences in the reporting templates (use of core and details information), frequencies and remittance dates  Technical standards on reporting, EBA Reporting networks
IT differences: differences in the use of data standards for electronic filing as well as in submission requirements  IT standards, EBA XBRL network

13. Technical Standards on Reporting
CRD requirement (Omnibus Directive, Dec 2010)
Article 74 of Directive 2006/48/EC (new)
“In order to ensure uniform conditions of application of this Directive, for the communication of those calculations by credit institutions, the competent authorities shall apply, from 31 December 2012, uniform formats, frequencies and dates of reporting. In order to ensure uniform conditions of application of this Directive, EBA shall develop draft implementing technical standards to introduce, within the Union, uniform formats (with associated instructions), frequencies and dates of reporting before 1 January 2012.”

14. Technical Standards on Reporting
Legal status: Implementing technical standards
Adoption by EU Commission via implementing acts in form of regulation or decision
Direct application – no further implementing regulation on national level
Scope: COREP, FINREP, Large Exposures

15. Technical Standards on Reporting
Reporting before… and after…
Supervisor 1
Supervisor 1
Group A
Group A, B, C
Common
framework
Supervisor 2
Supervisor 2
Group B
Group C
Supervisor 3
Supervisor 3
Different templates and definitions Common templates and definitions Several formats Single format
Different technologies IT standards

16. Technical Standards on Reporting
Timeline for the development of technical standards on Reporting that will be applicable starting 31/12/2012
Analysis of commonality and user test
2008/2009
Implementation
2012
Consultation of streamlined FINREP/COREP:
Q3 2009/ Q3 2010
Consultation of BTS by EBA:
Q3 2010
Streamlining of FINREP and COREP
2009/2010
Development of draft BTS by EBA
H1 2011
Endorsement of BTS by EBA and adoption by EU Commission
12/2011 – 03/2012
Application from
31/12/2012

17. Wolfgang Strohbach wolfgang.strohbach@eba.europa.eu

18. Eurofiling – Way forward
Timelines up to the end of 2011

19. Working targets for this year
COREP
Creation of the COREP taxonomy version based on CRD III for the reporting starting end 2011
Review of the Data Point Matrix Schema based on harmonised tables
Revise the Data Point Matrix Schema for the changes on CRD IV on basis of the streamlined tables
Creation and publication of the taxonomies including the formula linkbases in the end of 2011
How to deal with proportionality?
How to define the table representation?
Working targets for this year

20. Working targets for this year
FINREP
Update of the FINREP Data Point Matrix Schema based on the changes in the streamlined tables
How to deal with core and detailed tables?
How to deal with proportionality?
How to deal with cross-template dimensional definitions?
Creation and publication of the taxonomies in the end of 2011
Working targets for this year

21. Current topics Definition of user-friendly error messages
Different approaches are under discussion
Preparation of a rendering proposal for the visualisation of multi-dimensional tables
Dealing with a budget in the new organisation
Alignment with EBA reporting requirements
Data exchange between EBA and national central banks
Current topics

22. General topics Foster the creation of open-source tools
Link with other XBRL projects (national and international, i.e. IFRS)
Knowledge transfer by regular workshops, attendance at XBRL International Conferences
Provide proof of concept materials to entrepreneurs, developers, academy and so on…
Help to reduce the digital divide between countries in Europe and overseas
Providing “Best Practices” in European supervisory reporting
Dealing with administrative data
Preparation of recommendations on how to handle delta reports or on how to deal with national extensions
General topics

23. www.eba.europa.eu www.eurofiling.info
Ignacio Boixo
Katrin Schmehl