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© National Bank of Belgium FINREP - Taxonomy Status Mark Creemers (FINREP project team, National Bank of Belgium)
© National Bank of Belgium Agenda What is the FINREP-project? Timetable and recent developments Current and Future Issues Updates IFRS-GP taxonomy Versioning / Formulas Modularisation
© National Bank of Belgium What is the FINREP-project?
© National Bank of Belgium Timetable and recent developments Timetable for Taxonomy Start: end of January 2006 Intermediate versions in FINREP yahoo group First "Public Working Draft" (version 0.3): First "Final" version (1.0): Based on IFRS-GP 2005 Based on IFRS-GP 2006 With some TUPLES Without TUPLES
© National Bank of Belgium Timetable and recent developments Timetable for Taxonomy Final version (1.3) to be published very soon! No major changes to PWD expected!
© National Bank of Belgium Current and future issues "Timing-dependent" on IFRS-GP taxonomy IASB: New / Modified IFRS CEBS: adapt FINREP frameworkIASCF: adapt IFRS-GP taxonomy CEBS: adapt FINREP taxonomy National Supervisors: adapt national extensions QUID: IFRS-GP taxo is updated, but FINREP framework not? Close consultation with IASCF needed!
© National Bank of Belgium Current and future issues Versioning Formulas Currently many national solutions for the same problem! = inefficient! = burden for all parties involved! Status to be discussed in the end of the Workshop!
© National Bank of Belgium Modularisation Current and future issues Only 1 Taxonomy (making abstraction from imported IFRS-GP): All elements (primary, hypercubes, dimensions,...) in one schema file and one presentation, definition,... linkbase file
© National Bank of Belgium Modularisation Current and future issues 1 Template taxonomy importing 1 Primary taxonomy and many Dimensional taxonomies: There is only one entry point t-FINREP.xsd This approach was used in monolithic versions "1.0" and "1.2"
© National Bank of Belgium Modularisation Current and future issues Different primary and template taxonomies for each table: There are many entry points t-FINREP-Txx.xsd Used in modular versions "1.0" and "1.2"...
© National Bank of Belgium Modularisation Quid continuing to provide 2 approaches (modularised and monolithic), as for first two versions 1.0 and 1.2? Not a (realistic) option: This might lead to confusion for supervisors and banks! Maintenance: 2 versions = 2 * work! Risk of divergence between monolithic and modular version! There is an easy, suitable solution available! Current and future issues
© National Bank of Belgium Modularisation Current and future issues... "Envelope (one entry point)" taxonomy is equivalent to individual taxonomies: same primary items are (dis)allowed for same dimensions!
© National Bank of Belgium Thank you for your attention!
Jean-Michel DELAVAL 19 November 2009
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Formulae in the European Finrep Taxonomy SGCB IX European Banking Supervisors XBRL Workshop. Formulae in the European Finrep Taxonomy Paris, October 29,
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XBRL Versioning Committee of European Banking Supervisors XBRL Network Vice-Chair VWG Katrin Schmehl Amsterdam, th European Banking Supervisors.
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