What is the COREP XBRL project

NBB. Brussels 2005-09-15 What is the COREP XBRL Project? Ignacio Boixo CEBS COREP XBRL - Coordination Business case: XBRL use on COREP Bank Bank operations, controls…. Supervisor Presentation, Analysis… Risk Management Aggregator IS Supervisory Report ---------------------------Reception Operations Counterparties Collateral … XBRL instance Reports Other data … … 2 Proprietary vs. Standard Proprietary Past Well know Local Isolation Cost repetition Standard Future New technology Interoperability Cooperation Economies of scale 3 Opportunity window 2002 2003 2004 2005 2006 2007 Too late Operational: Basel II IFRS/IAS ••• 2008 Today! Too early Establishing: CEBS XBRL EU ••• 4 COREP concept: template Template: Dimension 2 Dimension 1 Measure Measure Measure Measure Dimension 3 Dimension 4 5 COREP concept: Data Matrix All the dimensions are optional! EXPOSURE TYPES EXPOSURE CLASSES STANDARD APPROACH CAPITAL REQUIREMENTS 6 COREP concept: extension superset of reports COREP Custom report Small report Medium report Large report 7 COREP implementation: Banks XBRL reports can be used for Basel II as well as for IFRS XBRL reports are also useful interchanging information between supervisors Reports XBRL Basel II Bank “1” IFRS Banking Supervisor country “A” Bank “2” Banking Supervisor country “B” 8 COREP implementation: Banks Reports XBRL Bank 1 Bank 2 • Multiple implementation approaches: • Small banks may use Application Service Provider -ASP- model, outsourcing technical complexity Banks may report all to all the Supervisors: Basel II & IFRS, Banking & Stock Exchange… International Banks may reduce supervisory burden when reporting to different countries Bank 3 • ASP provider Bank n Basel II IFRS Banking Supervisor International Bank Stock Ex. Supervisor Country Z Supervisor 9 COREP implementation: Model Bank Errors Taxonomy XBRL Supervisor Internet Risk Management INDUSTRY to XBRL from XBRL Supervision Operations Counterparties Collateral … Report XBRL ----------------------------- Reports Other data … 10 COREP implementation: Model Didactic model for explanatory purposes only Basel II XBRL implementation COREP XBRL (National) Basel II Bank Bank operations, controls…. Errors COREP XBRL (Europe) Internet Presentation, Analysis… Errors Supervisor Risk Management Basel II App. Operations Counterparties Collateral … to XBRL from XBRL Basel II App. IS Supervisory Report ---------------------------XBRL core Report ---------------------------- Reports Other data … … File Transfer (National) 11 COREP implementation: Simple The Bank of Spain is offering as help to the Credit Institutions a converter to XBRL 12 COREP implementation: Complex Define & implement the logical architecture PREPARE TECHNICAL SOLUTION Clients Access Channels Orchestration / Integrator Services Logs Services Infrastructure Services … Reports Generation Directory Services of XBRL added here! Integrated Services Reports, Transformation, Analysis, Validation, Storage … Persistence of data Security Messages Treatment Connectors, Mappers, Validation, Routers, etc. INFORMATION BUS … HOST Data warehouse Contents Management Application Services Commercial Packages Complex Information System example (Bank of Spain) 13 Joint venture CEBS + + + 14 XBRL Banks • • • COREP project: Acknowledgments (kick-off workshop, February 2005) Name Adrian Abbott Alejandro Sanz Aliki Kazakopoulo Annica Lundblad Antonio Menchero Antonio Sánchez-Serrano Arturo Labanda Bryce Pippert César Pérez-Chirinos Charles Hoffman Cormac McKenna Cristina Mena Daniel D'Amico Daniel Hamm David Castro Delphine Moreau Dennis Pels Don Inscoe Emilio Querol Fernando Navarrete Fernando Wagener Francesco Canfora Francisco Flores Frédéric Marié Gustavo Garcia Country UK ES GR SE ES ES ES USA ES USA IE ES UK DE ES FR NL USA ES ES ES IT ES FR ES Affiliation FSA Infodesa NCB PwC Soft.AG NCB PwC UBmatrix NCB UBmatrix Fujitsu inorme XBRL NCB Azertia NCB NCB FSA PwC NCB NCB Bank Scholar NCB IBM 15 Name Ignacio Boixo Ignacio Hernández-Ros J. Emilio Labra Javier Cobo Javier de Andres Jean-Marie Coudière Jesus F. Liger Johan Giertz José Luis F. Cuñado Josef Macdonald Katrin Schmehl Klaus Baumann Krisztina Tamási Magdalena Llano Michele Romanelli Olivier Servais Pablo Navarro Pamela Maggiori Panagiotis Voulgaris Paolo Milani Pedro Lorca Phil Walenga Ron Baremans Victoria Santillana Walter Hamscher Country ES ES ES ES ES FR ES SE ES UK DE DE HU ES IT BE ES IT GR IT ES USA NL ES USA Affiliation NCB XBRL Prof.Dr. Fujitsu Prof.Dr. NCB Azertia Bank Infodesa IASB NCB NCB FSA XBRL NCB XBRL Soft.AG NCB NCB NCB Prof.Dr. UBmatrix NCB AFI XBRL COREP project: Test cases flow COREP-XBRL Group 2 1 COLLABORATING INSTITUTION COLLABORATING Anonymous Information Anonymous Information test@corep.info e-mail Doc File Mapper XBRL Instance Doc, Pdf,… Files Excel File INSTITUTION COLLABORATING INSTITUTION Anonymous upload Excel File XBRL printout 3 4 COLLABORATING INSTITUTIONS SUPERVISORS XBRL COMMUNITY OTHERS 5 Public Repository Anonymous Comments Non compliant test cases www.corep.info P R O J E C T M A N A G E M E N T 16 COREP Project: forecast on January 21st 17 COREP project: goals Deliverables Initial COREP XBRL taxonomy √ 2005-05-13 To be updated following business changes Set of non-confidential test cases √ Project X Banks √ corep.info To be populated when Banks decide to participate Basic collaborative environment To be improved if helping COREP implementation 18 COREP Next steps: Releases Steering Committee 05-06-03 Dimensions: Public draft 05-07-19 Vendors involvement 05-08-26 European Workshop 05-09-15 Dimensions: Approved 05-11-07 COREP: Published 1Q 2005 Release 0.5 Release 0.6 Release 0.7 Release 1.0 19 COREP XBRL tools No commercial tools for dimensional XBRL avaliable at the beginning. Mappers for test cases: Basic: Excel > XBRL > Excel Realistic: Common formats to/from XBRL 1st tool: Excel macro converting Excel to XBRL Current tools: Please wait for afternoon demo! All the tools are proof of concept > test & teach 20 COREP Next steps: Options Challenge The real challenge is not the initial design of the taxonomy; a group of enthusiastic people is ready to carry out this job, as it has been demonstrated. The real challenge is to locally implement a nice design into a fruitful pan-European system. 21 Thanks - Obrigado - Merci - Gracias Danke - Grazie - Ευχαριστίες - Спасибо Pieter Bruegel. The Tower of Babel. 1563 22