17th XBRL Europe Day Frankfurt, Eric JARRY, Derek De BRANDT

Transcription

1 17th XBRL Europe Day Frankfurt, Eric JARRY, Derek De BRANDT

2 Context EIOPA Taxonomy Calendar EIOPA Filing Rules EIOPA Use of new specifications EBA Calendar Questions and answers 2

3 European Supervisory Authorities (ESA s) define XBRL taxonomies for EU-wide reporting Mandatory for reporting from NCA to ESA Suggested for reporting from institutions to NCA Banking supervision : European Banking Authority (EBA) 2014 Insurance supervision : European Insurance and Occupational Pensions Authority (EIOPA) 2015 European Central Bank (ECB) collects data from Financial Institutions in the eurozone; often based on EBA and EIOPA taxonomies Some NSAs develop local taxonomies for additional reporting 3

4 Taxonomies are implemented across Europe by supervisory authorities, submitters, software providers, consultants This working group discusses monthly aspects Sometimes also controversial topics are raised by members of the group The group acts as hub to leverage the discussion to concerned stakeholders Maintain the dialogue 4

5 EIOPA updates frequently Taxonomy Plans and roadmaps on its website by reference dates Last update: 3 March 2016 Information to be confirmed Annual Solvency II reporting Solo (ars.01) Quarterly Solvency II reporting Solo (qrs.02) Day 1 Solvency II reporting Solo (d1s.03) Annual Solvency II reporting Group (arg.04) Quarterly Solvency II reporting Group (qrg.05) Day 1 Solvency II reporting Group (d1g.06) Ref dates Undertaking Submission deadline Taxonomy version Undertaking Submission deadline Taxonomy version Undertaking Submission deadline Taxonomy version 01/01/2016* 20/05/ /07/ /03/16 26/05/ /07/ /06/16 25/08/ /10/ /09/16 25/11/ /01/ /12/16 20/05/ /02/ /07/ /04/ /03/17 19/05/ /06/ /06/17 18/08/ /09/ /09/17 18/11/ /12/ /12/17 06/05/ /02/ /06/ /04/ /03/18 12/05/ /06/ /06/18 11/08/ /09/ /09/18 11/11/ /12/ /12/18 22/04/ /02/ /06/ /03/ /03/19 05/05/ /06/ /06/19 04/08/ /09/ /09/19 04/11/ /12/ /12/19 07/04/ /02/ /05/ /03/ *National Competent Authorities may implement different reference dates for day 1 reporting for technical reasons Undertaking Submission deadline Taxonomy version Undertaking Submission deadline Taxonomy version Undertaking Submission deadline Taxonomy version 5

6 EIOPA has published taxonomy governance procedures: from regulation to taxonomy 6

7 7

8 No facts may be empty or nil. A typed dimension without value must have xsi:nil="true" (or sometimes set to "None" if no entity identification exists). All reported facts must correspond to a positive filing indicator. Reference date for Day One reporting must be Multiple currencies may be requested in instances. A processing instruction should be used to define the software component used to generate the XBRL instance; E.g.: <?xml version="1.0" encoding="utf-8"?> <?instance-generator id="acme Generator" version="2.0.1"?> <xbrli:xbrl Other informations may appear in this instruction. E.g.: <?instance-generator id="acme Generator" version="2.0.1" option="optimize: yes"?> <!-- Creation_date : T17:26:17Z --> 8

9 Assertion severity 1.0 (currently Proposed Recommendation ) Anticipated for Taxonomy version Extensible Enumerations 1.0 (Recommendation ) Already used in Taxonomy V

10 Go-live in 2014 with the second wave (2.0) of COREP and FINREP Several iterations of XBRL frameworks (2.1, 2.2, 2.3) Going live this year in September : 2.4 and December 2.5 Technical evolutions Moving up to new XBRL specifications (enumerations, table, etc.) Multi-currency reporting as from 2016 (fact unit fact dimension) Heavily used across EUROPE Frequent updates on validation rules Two years in production Reaching sufficient maturity level 10

11 V2.3.n V2.4.n 28/02/ /03/ /03/ /04/ /04/ /03/ /05/ /05/ /04/ /05/ /06/ /05/ /06/ /06/ /07/ /07/ /06/ /08/ /08/ /09/ /11/ /07/2015 Expected 17/08/2015 Reporting Dates 31/08/ Specific Reporting Versions 31/08/ /09/ /09/ Monthly Quarterly Annually Expected Last Expected notional 15/10/2015 Expected 29/10/2015 Final /09/2015 Reporting COREP COREP FINREP AE FP SBP file content 11/11/2015 remittance 25/11/2015 date Date OF, LE, LR, Financial Asset Funding Benchmarking 31/10/2015 date 02/11/ /11/2015 -> EBA > NCA NSFR Reporting Encumbrance Plans N.B. LCR Regulation notionally applies from LCR here LCR_DA - but reporting AMM changes not until OJEU publication of ITS + 6 months (~05/2016) IMV Main 31/10/ /11/ /01/ /11/ /02/ /11/ /12/ /12/ /02/ /01/ /02/ /01/ /09/ /02/ /11/ /01/ /02/ /03/ /02/ /02/ /12/ /02/ /03/ /03/ /03/ /04/ /04/ /04/ /03/ /04/ /05/ /04/ /05/ /01/ /04/ /02/ /05/ /02/ /06/ /02/ /05/ /03/ /06/ /03/ /06/ /04/ /07/ /04/ /07/ /03/ /06/ /05/ /08/ /05/ /08/ /04/ /05/ /09/ /05/ /11/ /07/ /08/2015 First reference 31/08/2015 date uncertain commencement is "6 months after publication of ITS in OJEU" 31/08/ /06/ /09/ /06/ /09/ /05/ /06/ /10/ /07/ /10/ /09/ /11/ /11/ /10/ /11/ /11/2015 Source: EBA, always get the version from the website N.B. LCR Regulation notionally applies from here - but reporting changes not until OJEU publication of ITS + 6 months (~05/2016) 31/10/ /11/ /11/ /11/ /12/ /01/ /01/2016 XBRL WEEK 01/02/2016 IN FRANKFURT

12 (18/08/2014) Amendments Amendments Amendments Unused 2.3 (2015-A) Q4/2014 (02/03/2015) ALM Amendments COREP FINREP FP SBP Amendments Amendments Unused New Reporting Unused (2015-A-1) (08/05/2015) FP SBP (2015-A-2) 07/ (Ind) 2.4 (2015-B) Q3/2015 COREP FINREP SBP /09/2015 LR, LCR Changes QA Multicurrency QA Multicurrency True mul ti currency 2.5 (2016-A) Q1/2016 COREP FINREP AE Changes to align with CCB disclosure requirements Changes regarding GAAP reporters Implement additional validation rules 2.6 (2016-B) Q4/2016 Trading Book Review, LE Review, SME, Mortgage Exposure, Prudent Valuation IFRS 9 EBA Modelling Review Source: EBA, subject to change 12

13 LUNCH IS AT THE BALCONY (2nd floor) 12:30-13:45 13