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COREP-FINREP

COREP-FINREP. Luxembourg Situation, Status November 2007. E. Bartolé IT Coordinator CSSF, Luxembourg November 6th 2007. Status of COREP/FINREP LU. COREP + FINREP: Version 1.0 published on 2007-09-25 (Circular 07/319; www.cssf.lu) Corep individual: http://www.cssf.lu/index.php?id=204&L=1

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COREP-FINREP

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  1. COREP-FINREP Luxembourg Situation,Status November 2007 E. Bartolé IT Coordinator CSSF, Luxembourg November 6th 2007

  2. Status of COREP/FINREP LU COREP + FINREP: Version 1.0 published on 2007-09-25 (Circular 07/319; www.cssf.lu) Corep individual: http://www.cssf.lu/index.php?id=204&L=1 Corep consolidated: http://www.cssf.lu/index.php?id=205&L=1 Finrep (ind. & consol.): http://www.cssf.lu/index.php?id=206&L=1 Mandatory

  3. XBRL reports

  4. Versions • Finrep 1.2 monolithic • Corep 1.2.4

  5. Issues • Few prudential reports (e.g. B2.3, B6.3) and all statistical reports still in old Edifact format • Prudential reporting IFRS, Statistical reporting LUX-GAAP

  6. More issues • Compatibility to european implementations of Finrep / Corep • Accounting scheme change left no possibility for gradual approach or transition period

  7. The next steps IV 2007 I 2008 II 2008 III 2008 Lux. COREP & FINREP implement-ation phase Lux. FINREP reporting Lux. COREP & FINREP reporting Lux. COREP & FINREP reporting FINREP (monthly) FINREP &COREP (quartlerly) (Edifact B2.3+B6.3) Edifact (2007 data)

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