XBRL-Europe Update. 16th XBRL Europe Day February 2016

Transcription

1 XBRL-Europe Update 16th XBRL Europe Day February 2016

2 Disclaimer The information provided in this document was presented at a public meeting of XBRL Europe in Paris on February 2 nd makes no representation regarding the completeness, accuracy, or timeliness of any information contained within this document. If you have any questions regarding the information provided, please address to the relevant authority mentioned. Without the express prior written consent of, this document may not be (i) reproduced (in whole or in part), (ii) copied at any time, (iii) or used for any purpose other than for background information purposes.

3 EIOPA Solvency 2 Calendar 21/10/2015: First Solvency 2 Taxonomy (2.0.1) First submission to NCA ~ May 2016 See example filing dates from Banque de France 15/04/2016: Draft available of V2.0.2 (corrective) 31/05/2016: V2.0.2 to be published 15/05/2016: Draft available of Adaptive taxonomy (2.1.0) 30/06/2016: V2.1.0 to be published First Submission Quarterly reports to NCA February 2017 First Submission Annual reports to NCA May /1/2017: Draft available of Corrective Taxonomy (2.1.1) 28/2/2017: V2.1.1 to be published First Submission Quarterly reports to NCA September 2017 Source: EIOPA, all dates are subject to change 4

4 Solvency 2 Filing Dates EIOPA has not provided a public filing schedule Banque de France dates are provided as an example Will be similar for other countries / NCAs Types of Filing Solo Deadlines for reporters Group Reporting Day One 20/05/ /07/2016 Prudential filings Q1 (including ECB variants) 26/05/ /07/2016 Prudential filings Q2 (including ECB variants) 25/08/ /10/2016 Prudential filings Q3 (including ECB variants) 25/11/ /01/2017 Prudential filings Q4 (including ECB variants) 25/02/ /04/2017 Annual Reporting (QRT and narrative) 20/05/ /07/2017 Financial Stability filings Q1 09/06/2016 Financial Stability filings Q2 08/09/2016 Financial Stability filings Q3 09/12/2016 Financial Stability filings Q4 11/03/2017 6

5 EIOPA Solvency Filing Rules Required Precision of Monetary Fact ITS Text a. in templates S.06.02, SE.06.02, S.08.01, S.08.02, S and E.01.01, data points with the data type 'monetary' shall be expressed in units with at least two decimals b. in an other templates, data points with the data type 'monetary' shall be expressed in units with 0 or more decimals; Reported figure (absolute amounts) Value attribute >= 2 >= >= -4 > 1,000,000 and < 100,000,000 >1000 and > = > = -2 > 0 and < >= -1 7

6 EIOPA Filing Rules 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; Other information may appear in this instruction. 8

7 EIOPA Use of New XBRL Specifications Assertion severity 1.0 Currently Proposed Recommendation ( ) Anticipated for Taxonomy version Extensible Enumerations 1.0 Recommendation ( ) Already used in Taxonomy V1.5.2

8 EBA CRD4 Reporting Update Version 2.4 is still awaiting legislative approval May be delayed ( or never used) Waiting for status update from the EBA Technical evolutions Moving up to new XBRL specifications Enumerations, Table, etc. Multi-currency reporting as from 2016 fact unit fact dimension

9 EBA CRD4 Dates & Versions Expected Reporting Dates Expected Last Expected notional Reporting Expected Final file content date Date remittance date -> NCA -> EBA Specific Reporting Versions Monthly Quarterly Annually SBP COREP COREP FINREP FP AE Asset Benchmarking OF, LE, LR, Financial Funding Encumbrance NSFR Reporting Plans LCR LCR_DA AMM IMV Main 31/10/ /11/ /11/ /11/ /12/ /01/ /01/ /02/ V2.3.n V2.4.n 31/12/ /02/ /02/ /03/ /04/ /04/ /04/ /01/ /02/ /02/ /02/ /03/ /03/ /04/ /04/ /03/ /05/ /05/ /04/ /05/ /05/ First reference date uncertain - commencement is "6 months after publication of ITS in OJEU" 15/06/ /06/ /05/ /06/ /07/ Source: EBA, subject to change 11

10 EBA Taxonomy Evolutions 2.4 (2015-B) Q3/2015 COREP FINREP SBP /09/2015 LR, LCR Changes QA 1042 Multi-currency QA 1042 Multi-currency True Multi-currency COREP FINREP AE (2016-A) Q1/2016 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

11 Round-up of other XBRL Updates European Commission identifies XBRL as a recognised standard Which means it is eligible for referencing in public procurement. ESMA (the European Securities and Markets Authority) has published responses to the consultation on the European Single Electronic Format (ESEF) - link. xebr taxonomy completed with mapped labels for 7 countries Reference taxonomy for pan-european reporting Geraud Amic () is co-author Dutch SBR is being expanded to cover other sectors Health, Education, etc. XBRL Open Information Model (OIM) draft available First step to enable interchange with JSON

12 Contact Information General information: Support information: Telephone: Website: