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Paris – 22nd June, 2009

International Steering Committee Spanish Jurisdiction. Sebastián Muriel President (XB RL Spain) http://www.xbrl.es General Manager (red.es) http://www.red.es. Paris – 22nd June, 2009. Bank of Spain CNMV. XB RL in Spain: Strategy.

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Paris – 22nd June, 2009

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  1. International Steering Committee Spanish Jurisdiction Sebastián Muriel President (XBRLSpain) http://www.xbrl.es General Manager (red.es) http://www.red.es Paris – 22nd June, 2009

  2. Bank of Spain CNMV XBRL in Spain: Strategy • Spain is considered to be ahead of the XBRL development due to the efforts fulfilled by the public and private sector. • The Public Organizations and Regulatory Councils which have lead the establishment of XBRL in Spain are: • -Bank of Spain • -CNMV: National Share Market Commission

  3. XBRL in Spain: Strategy • Traditionally, business that have been more active in XBRL are the most regulated sectors, especially the companies listed on the national stock exchange: • -All the companies included in the IBEX 35 index report their quarterly statements using XBRL to the CNMV since July 2005 • -Most of the Spanish private banks use XBRL for their reporting. e.g. SCH, BBVA, Banco Popular, Caja Madrid, etc. IBEX 35 Financial Institutions Bank of Spain CNMV

  4. XBRL in Spain: Strategy • So far, major economic institutions and main financials companies have boost/encouraged the initiative of the XBRL implementation. • There is an opportunity to move the experience of XBRL into: • -Local Government • -Small and Medium enterprises (SMEs) SMEs Local Government IBEX 35 Financial Institutions Banco de España CNMV • Red.es is a government owned company assigned to the Ministry of Industry, that works closely with the public and private sector, in order to achieve the development and promotion the non-discriminatory use of the Information Society in Spain

  5. SMEs Local Government IBEX 35 Financial Institutions Banco de España CNMV The spanish public administration framework 17 Regional Governments 2 Autonomous cities 50 Provinces 8.107 Local Entities PUBLIC PROMOTION ON MASSIVE XBRL USE FOR LOCAL GOVERNMENT FINANTIAL REPORTING

  6. XBRL in local budget reporting http://www.e-local.es

  7. XBRL in local budget reporting 2006 2007 2008 Excel Web form XBRL

  8. SMEs Local institutions IBEX 35 Financial Institutions Banco de España CNMV New GAAP (PGC 2007) • On February 10th, it was published in BOE JUS/206/2009 the order on the presentation of annual accounts under the new GAAP (PGC 2007) • It is mandatory to use XBRLas the STANDARD FOR DIGITAL PRESENTATION OF FINANCIAL STATEMENTS • Either through physical presentation on computer records in the telematics business presentation or by electronic signature • We have developed open source APIs for main ERPs that are used by most of SMEs in Spain (INTECO – Ministry of Industry) (both java and command line)

  9. New GAAP (PGC 2007) http://www.pgc2007.info/ http://www.inteco.es/Calidad_del_Software/ /descargas/api_xbrl_pgc2007/

  10. Now Financial entities Balance SMEs FINANCIAL STATEMENTS PGC 2007 Mercantile Register The financial statements are generated one time in the same format (XBRL)

  11. CSR with XBRL • CSR (Corporate Social Responsibility) lacks of a minimum of clarity, is too industry-specific and the format in which it is based is not suitable to comparisons • A double solution: • Semantic agreement • Digital format

  12. CSR with XBRL (taxonomy)

  13. CSR with XBRL: 1st real example

  14. XBRL in Latin America • The Spanish Ministry of Foreign Affairs has approved the application for XBRL Spain to lead a training course in XBRL with the AECID (Spanish Agency for International Development) in La Antigua (Guatemala) • On-line course of Interactive Data for Financial Supervision: this course is aimed at providing introductory knowledge on interactive data in XBRL language and its applications for financial sector supervision

  15. Thank you !! .. any questions ?? XBRL Spain info@xbrl.es Tef (+34) 91 212 76 20 ext. 4328 Fax: (+34) 91 555 77 76 Plaza Manuel Gómez Moreno, Edificio Bronce, 7ª Planta 28020 Madrid

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