corep and finrep: start of real xbrl reporting in the european banking supervision committee of...
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COREP and FINREP:
Start of real XBRL reporting in the European
Banking Supervision
Committee of European Banking Supervisors XBRL Network
Daniel HammKatrin Schmehl
Munich, 2007-06-06
15th XBRL International Conference
Agenda
Short Summary of COREP
Short Summary of FINREP
COREP and FINREP in Europe Today
Status and Future of the Projects
Agenda
Short Summary of COREP
Short Summary of FINREP
COREP and FINREP in Europe Today
Status and Future of the Projects
COREP Background
Basel II
Directives 2000/12 & 93/6
Country 1
FSA 1
Report 2Report 1
------------------------------------
Country 3Country 2 Country 25
FSA 2 FSA 3 FSA 25
Report 25
----------------------------------------------------------------------------------------------------------------------------------------------------------------
Report 3
----------------------------------------------------------------------------------------------------------------------------------------------------------------
National Regulation
Transposition into national Legislation
European Law9X,XX% Basel II compatible
National Implementation
XBRL challenge!
COREP: Dates & Facts
End of 2004: Decision of CEBS to use XBRL
February 2005: First European Banking Supervisors XBRL Workshop (Madrid)Start of taxonomy development
July 2005: First Public Working Draft of Dimensions
September 2005: III European Banking Supervisors XBRL Workshop (Brussels)First presentation of results to supervisors
March 2006: COREP Taxonomy 1.0
September 2006: Dimensions 1.0 RecommendationCOREP Taxonomy 1.2 (official release to build national extensions)
October 2006: Start of national extensions
time
2004 2005 2006
•COREP: COmmon REPorting•Initiative of the Committee of European Banking Supervisors (CEBS, http://www.c-ebs.org)
COREP: Dates & Facts
Taxonomies represent 18 templates Overview and group solvency details (2) Credit Risk (7) Market Risk (6) Operational Risk (3)
Current taxonomy version: 1.2.4 (dated 2007-04-20) Several European Banking Supervisors XBRL
Workshops took place (latest was the VII Workshop and took place in Munich last month)
Official Website: http://www.corep.info
Agenda
Short Summary of COREP
Short Summary of FINREP
COREP and FINREP in Europe Today
Status and Future of the Projects
FINREP: Dates & Facts
FINREP: FINancial REPorting FINREP: XBRL representation of the Financial Reporting
Framework of the CEBS FINREP is designed for credit institutions that use IAS /
IFRS (International Accounting Standards / International Financial Reporting Standards)
FINREP taxonomy is an extension of the IFRS-GP taxonomy (developed by the International Accounting Standards Committee Foundation - IASCF)
FINREP Taxonomy 1.0 dated 2006-09-30 Current version: 1.2 (dated 2006-12-21)
Goals of COREP and FINREP
At first, the goal was the pure development of working taxonomies Early need to integrate European supervisors („end-users“) in the
development process Three different types of goals now:
Technical goal Allocation of taxonomies
Business goal: Encourage / support national supervisors in their XBRL adoption Use of synergy effects
„XBRL“ goal Create awareness for XBRL capabilities and benefits across Europe Help in developing the standard according to the project‘s needs
Agenda
Short Summary of COREP
Short Summary of FINREP
COREP and FINREP in Europe Today
Status and Future of the Projects
COREP/FINREP in Spain
Spain
SIIF: XBRL system of the Bank of Spain
2005: System of interchange of financial information (SIIF)
2006: SIIF is improved to support the New Basel’s Accord Solvency Information
National Bank
Financialentity
Financialentity
Financialentity
xbrl xbrlxbrl
txt
Only XBRL XBRL is the only format allowed,
but providing a translation tool Entities to consider providing
XBRL directly Translation tool must be
maintained
Services being provided
Providing helper services Instance validation service Instance visualizing service Taxonomy dictionary browser Taxonomy browser
Spanish COREP: Commercial XBRL engine for
validation Visualization based on XSLT, but
using the API of the XBRL engine
Bank of Spain: One entity and one period per
instance document
Financial Entity
Front-end
XSLT
XSLT
Javascript
Javascript
XSLTProcessorXBRL XSLT
HTML
COREP/FINREP in the Netherlands
The Netherlands
e-Line: generic solution for reportingof the Bank of the Netherlands
PublicationData transmission
StorageQualitychecks
ECB
BIS
Eurostat
NationalStatisticsBureau
Government
XML
Data-entry
XBRL
Internet
Mathematical
Plausibility Data warehouseDepartments
e-Line: Support for reporting entities
Overview of reports DNB to be delivered
Fill out reports data-entry Importing: XML, XBRL
Quality checks: technical and business rules
Export to Excel / PDF
Multi-user handling
Sample data entry form of a COREP template
e-Line: support for interested national banks in Europe
e-Line provides: an web-based tool possibilities to adjust the design to the corporate design of
the national bank possibilities to create own reporting forms support for any language an overview of the reporting progress data storage back-up facilities adjustments on reports security (PKI = Public Key Infrastructure)
interfaces to back office systems
COREP/FINREP in Belgium
Belgium
CSSR: Central Server for Statistical Reporting
Requirements: User friendly for small companies filling in
statistical forms
Full automation capabilities for big companies using XBRL, XML, file transfer in a complex IT environment with a very high level of security
CSSR: Central Server for Statistical Reporting
The solution a single IT software tool implemented on server(s) connected to the Internet dedicated to all kinds of statistical and prudential
reports used by all kinds of reporting agents (financial, non-
financial, public, private, big or small companies) to report to different authorities (central bank,
supervisors, NSI)
Sample data entry form of a COREP template
CSSR: support for interested national banks in Europe
single software multi-reporting agents & multi-users multi-domains, multi-surveys, multi-forms based on XBRL multilevel functionalities (small or big companies) multilevel security multilingual multi-authorities (National Bank, Supervisor, National
Accounts) only used by Belgian authorities
==> Why not widen the use of CSSR to other authorities in charge of statistical & prudential data collection?
Back to EUROPE
Agenda
Short Summary of COREP
Short Summary of FINREP
COREP and FINREP in Europe Today
Status and Future of the Projects
How to support the national developments?
Weekly Conf. Call
Yahoogroups 300+
Workshops:7 editions *
70+ attendees
Website, News &
Communication
Core Team:Supervisors
DE, ES, IT, BE, GR + Non Supervisors
How to enhance XBRL for the needs of the European supervisors?
Formula Linkbase Formulas should be part of the taxonomy. Calculation linkbase is too limited for supervisory needs. Different national solutions for same problem.
Integration in national taxonomy-extensions Development at application-level
Versioning Documentation on changes:
on the base taxonomies on different versions of the extension taxonomies between two extension taxonomies?
Participation in the
Working Groups
of XBRL International
How to enhance XBRL for the needs of the European supervisors?
Weekly Conf. Call
Yahoogroups 300+
Workshops:7 editions *
70+ attendees
Website, News &
Communication
Core Team:Supervisors
DE, ES, IT, BE, GR + Non Supervisors
Questions
Thank you for your attention!
Time for your questions!
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