COREP FINREP XBRL Project

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					COREP/FINREP Taxonomies
Way forward


XI European Banking Supervisors
XBRL Workshop
Vienna, 18th November 2009
Ignacio Boixo
CEBS XBRL Operational Network
European Collaborative Framework


Budget: 0 €/year


                         Core Team:
   Workshops:
                         Supervisors
  11 editions       BE, DE, ES, FR, IT, LU...
70 attendees each      + Non Supervisors
 EU support for FINREP XBRL developments
€ 59,000 in 2009: XBRL Spain, BR-AG, Aquilonious
    This project is made possible with
      the financial assistance of the
             European Union




      This project can under no circumstances be regarded as
            reflecting the policies of the European Union
 IT harmonized reporting


Internet ready format
Large reports: Full COREP have 40,000 cells
Compact: Tables/cells as Excel
Validation: Validation also at sender side
Change management: New and deleted cells
Mapping between Reports and Databases
Coherence between supervisory and IT views
Why XBRL?


XML stands for eXtensible Markup Language.
XML is designed to transport and store data .
                                      www.w3schools.com/xml

XBRL stands for eXtensible Business Reporting Language,
  but XBRL should be better understood as:


eXtension
    for Business             Reporting
                                        of XML
 eXtension for Business Reporting of XML
A solution based on standards and developed
  using methodology for standards (public
  exposure, acceptation…) would eventually be
  adopted as an standard
A solution based on standards but developed
  without methodology for standards would
  remains proprietary.
Working together:
• Supervisors, Banks, Software, Consultants…
• National, European, International…
• IT people, accountants, supervisors…
FINREP/COREP XBRL ROADMAP


•   FINREP templates                     Frozen!
•   Architecture decisions               Agreed!
•   Matrix Schema                        Ready!
•   Formal Data Model                    November’09
•   Architecture reference               December’09
•   FINREP Taxonomy (Proof of concept)   January’09
•   Final FINREP/COREP templates         2010, 2011
•   Final FINREP/COREP Taxonomies        2010, 2011
•   Systems changes/testing (1 year)     2011, 2012
•   Go live                              2012, 2013
Rome, April 2010
Put these dates in your diary:

XBRL International Conference 19th-23rd

European Banking Supervisors
XBRL Workshop (tentative) Friday 23rd
     Financial Information Bridge




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Ignacio Boixo
boixo@bde.es
+34 618526434




The XBRL Network of the

				
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