Implementing xbrl in cross sector supervision
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Implementing XBRL in cross- sector supervision _____________. Eric JARRY – Banque de France [email protected] Eurofiling 2013-06-19. European System of Financial Reporting. Europe. J urisdictions. Reporters. NSAs. ESAs. XBRL. XBRL. CEBS. X BRL. XBRL. CEIOPS. X BRL.

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Implementing XBRL in cross- sector supervision _____________

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Implementing xbrl in cross sector supervision

Implementing XBRL in cross-sector supervision_____________

Eric JARRY – Banque de France

[email protected]

Eurofiling2013-06-19


European system of financial reporting

European System of Financial Reporting

Europe

Jurisdictions

Reporters

NSAs

ESAs

XBRL

XBRL

CEBS

XBRL

XBRL

CEIOPS

XBRL

CSDB

CentralSecurities

DataBase

XBRL

CESR

Joint Committee


Xbrl in acp banque de france

XBRL in ACP / Banque de France

  • Before 2007: the French banking regulator, Commission bancaire, bound to Banque de France, used a proprietary format for the French banking reporting since 1993, BAFI

  • 2005-2006: CEBS (now EBA) has chosen XBRL for the Basel II / CRD and Financial reporting: COREP and FINREP taxonomies

  • 2006: Banque de France has decided that XBRL will be the only format accepted for COREP and FINREP data, a new application is developed: COFINREP. Reception of XBRL reports in 2007

  • 2008: New French regulations, complete change of the reporting system : SURFI (Unified FInancial Reporting System), all banking reporting for prudential and statistical needs of Banque de France, will be done in XBRL, the SURFI taxonomy and SURFI application are developed


Xbrl in acp banque de france1

XBRL in ACP / Banque de France

  • 2010: The French authorities for Banking and Insurance supervision have been merged, giving ACP (Prudential Supervisory Authority), bound to Banque de France

  • EBA uses another implementation of the SURFI sytem, IPEBA – IT Platform for EBA. EBA accepts XBRL, XML and CSV reports for KRI (Key Risk Indicators) data

  • 2011: Decision of EIOPA to use XBRL for the reporting, from undertakings to NSAs and from NSAs to EIOPA

  • 2012-2013: SURFI application adapted to support Solvency II and new EBA taxonomies

  • 2014: First filings of COREP, COREP_LE and FINREP data

  • 2014: First filings of Solvency II data (in XBRL, voluntary reporting, specific to France)


The surfi system

KRI instances (to EBA)

Outputprocessing

XBRL

HTTP

Encryption

Signature

Reportingdatabase(XBRL)

Authentication

Authorization

Certificats mgt

RegistryApplication

XBRLvalidation

(with formula)

XBRLvalidation

(not formula)

Instances and errors processing

Views

generation

Due timemanagement

Taxonomies

Webforms

Taxonomies

Registry

SMTP

Filetransfer

Timestamping

The SURFI system

XBRL

XML

OneGate

SURFI

Excel

Security

PDF

Excel

Formshandling

Excel

SASApplication

XBRL

Web dataentry

Messages

Formsgeneration

Transfer

protocols

Otherapplications

XBRL

XBRL

XML

XML

CSV

XBRL

EDI

Conversions(IPEBA)

Other flows

XML

CSV

Messages

Excel

Common portal of Banque de France(from National Bank of Belgium)


Implementing xbrl in cross sector supervision

Appreciated practices

  • Give to each assertion:

    • A clear label expressing the check: xxxxshallbeequal to yyyyy

    • A code


Implementing xbrl in cross sector supervision

Generic messages / labels

Escaped XML element


Implementing xbrl in cross sector supervision

Web forms

  • Applicable only to small set of data

    • Will certainly not be implemented for Solvency II reporting in ACP

  • May be a way to view the data sent to the regulator

    • But ACP sends back Excel sheets containing the data and showing the errors

  • May be a way to correct (slightly) invalid reports

  • Imply a cost to create forms from taxonomy / regulatory templates

    • The Table linkbase will help

  • May be used for the signature of reports for small filers (view the reported data, then sign)


Implementing xbrl in cross sector supervision

Excel to XBRL conversiontool

  • Some small filers use solutions based on Excel (specially in the insurance sector)

  • An Excel to XBRL conversion tool may be an alternative to Web forms (some offers provide both solutions)

    • Possibility to fill the forms with Excel API (e.g.: ActiveX)


Implementing xbrl in cross sector supervision

Thankyou.

Questions ?

[email protected]


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