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

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Country 3Country 2 Country 25

FSA 2 FSA 3 FSA 25

Report 25

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Report 3

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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!