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Contents. Introduction Scope of XBRL Implementation Financial Institutions BBVA Summing Up. 1. Introduction. OBJECTIVES. The main objectives to be achieved in this session are:. Introduction of BBVA. New international framework of corporate reporting.

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Contents

  • Introduction

  • Scope of XBRL Implementation

    • Financial Institutions

    • BBVA

  • Summing Up


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1. Introduction

OBJECTIVES

  • The main objectives to be achieved in this session are:

  • Introduction of BBVA.

  • New international framework of corporate reporting.

  • XBRL creating value in the new framework.

  • New opportunities to apply XBRL in Financial Organizations.

  • Keys for success in the development of XBRL initiatives.


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1. Introduction

BBVA – GENERAL INFORMATION

  • First Bank in efficiency in the Eurozone.

  • Efficiency Ratio : 45.9% (1Q 2006).

  • ROE: 34.1% (1Q 2006).

  • 7,410 Offices.

  • 94,681 Employees.

  • 34 million euros invested in Training.

  • Number of Clients: 38.4 million

  • 70% Client Satisfaction.

  • Developing the XBRL Project (BBVA joins the Spanish XBRL Association: September 2004).


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1. Introduction

BBVA – INTERNATIONAL CONTEXT

  • Spain

  • Portugal

  • Andorra

  • France

  • England

  • Belgium

  • Switzerland

  • Germany

  • Italy

  • Russia

  • USA (New York, Miami)

  • Mexico

  • Cuba

  • Puerto Rico

  • Panama

  • Venezuela

  • Colombia

  • Peru

  • Chile

  • Argentina

  • Uruguay

  • Paraguay

  • Brazil

  • Japan

  • China (Pekin, Shangai, Hong Kong)

  • Iran


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Changes in Legislation

Change of Information Management Model

1. Introduction

EVOLUTION OF DEMAND FOR INFORMATION

  • Stakeholders’ demand for more information has been evident in the last few years and has been caused mainly by:

Outstanding Global Events


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  • Transparency

  • Accuracy

  • Homogeneity

  • Increased availability

  • Efficiency

  • Itemization

  • Comparison among competitors

  • Support for decision-making

1. Introduction

NEW CORPORATE REPORTING REQUIREMENTS

  • The information requested by the “stakeholders” involves new reporting requirements:


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International Stock Market

National

Stock Market

1. Introduction

GREAT NUMBER OF INFORMATION SENT

Global Scope (International)

Regulatory Organizations

Associations- Other External Agents

Local Scope (National/International)

Regulatory Organizations

Associations- Other External Agents

Financial

Credit

Statistical

Others

Self-Goverment Communities

External Audit

City Councils

Consulates


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Contract/Operations

Accounting

  • Operating Level

  • Daily, monthly

  • Movements, positions, attributes, future flows…

  • At any Organization level

  • Daily

  • Extended accounting scheme

  • Management mechanism (transfer rates, synergies.)

1. Introduction

MAIN REPORTING COMPONENTS

Reporting

Asset Risk and Expected Return

Customers

  • Operating Level

  • Financial Capital

  • Expected Losses

  • Exposure

  • Segmentation

  • Conditions

  • Statistical data


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1. Introduction

CONTENT OF INFORMATION OUTPUTS

  • The kind of information periodically delivered to Regulators can be classified in:

INFORMATIVE

STATISTICAL

  • Balance

  • P&L

  • Relevant facts

  • INE

  • Regional Communities

  • Non Residents Operations - PNR

LEGAL

MANAGEMENT

  • Signed Annual Report

  • Companies House Reports

  • Normalized files

  • External audit

BANKING OPERATION

TAX

  • IVA, IRPF e IS Tax models.

  • CIRBE

  • ASNEF


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1. Introduction

DEFICIENCIES IN CORPORATE REPORTING

  • The main corporate reporting inefficiencies noticed in financial entities, due to the new information management environment:

Information Retrieval.

1 Item – N Requests – N Sources

Information Validation.

Validation of heavy processes

Working, Analysis.

N Presentation Formats

Publication.

Same information in N presentation formats to N Organizations.


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1. Introduction

XBRL CONTRIBUTION IN VIEW OF NEW REQUIREMENTS

  • Due to the new management and information reporting environment:

Integrity

Quality

Optimal Working

Reduction of publication cycles

Standardization


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Contents

  • Introduction

  • Scope of XBRL Implementation

    • Financial Institutions

    • BBVA

  • Summing Up


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Financial / Market Analysts

Clients

Financial Organizations

Investors

Vendors

Financial Entity

Local / International Regulators

Information Administrators

Software and Technology Vendors

2. Scope of XBRL Applications – Financial Entities

XBRL AND FINANCIAL ENTITIES


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2. Scope of XBRL Applications – Financial Entities

VARIETY OF FINANCIAL INFORMATION INTERCHANGE PROCESSES

Reporting to Official Organizations

Administrative Information Retrieval Processes

International Client Management

Retrieval of Market Information

Risk Management and Analysis

Information publication

Competitors, Industry, Capital Markets and Subsidiary Analysis Processes

Control Processes and Internal Audit


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Contents

  • Introduction

  • Scope of XBRL Implementation

    • Financial Institutions

    • BBVA

  • Summing Up


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2. Scope of XBRL Applications - BBVA

XBRL INITIATIVES LAUNCHED IN BBVA

SIIF Project – Bank of Spain

CNMV Project - IPP

Retrieval of Market Information

COREP (*)

Financial information delivery to SEC (*)

Risk Analysis and Management

Release in BBVA Web (*)

Competitor Analysis

Capital Market Analysis

Industry Analysis

(*) In Process


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BBVA

Internal Basic

Standard

XBRL

COREP

Taxonomy

Internal Advanced

XBRL Framework

XBRL

Repository

Internal Working

2. Scope of XBRL Applications - BBVA

COREP - XBRL

Calculation Engine

Sources

Consolidation

Contract Guarantees

Clients’ Condition

Consolidated Information

Ratings, Scorings

Operational Risk

Standard


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XBRL Project Office

Negotiator between agents

2. Scope of XBRL Applications - BBVA

BBVA ORGANIZATION

  • A XBRL Project Office has been created in order to manage and promote internal and external XBRL initiatives to develop in BBVA.

External Agents

BBVA Areas

Regulators

Technology

Suppliers

Systems

Taxonomy Experts

Data Dictionary

User Departments

Reporting BBVA

XBRL – BBVA

Knowledge

XBRL Internal/External Initiatives

  • SIIF Project

  • CNMV Project

  • Capital Laundering

  • COREP

  • Others


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Contents

  • Introduction

  • Scope of XBRL Implementation

    • Financial Institutions

    • BBVA

  • Summing Up


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3. Summing Up

XBRL INITIATIVES – KEYS OF SUCCESS

  • To achieve success, XBRL initiatives require a mix of the following factors:

  • Publication of more information in XBRL.

  • Development of new XBRL tool functionalities in order to manage XBRL information.

  • Joint performance between Public Administration and the Private Sector.

  • More specifically, in the scope of financial organizations, the joint performance of all the participants in the financial system would become necessary to launch new XBRL initiatives.

Current Situation

t

Keys for Success


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3. Summing Up

CONCLUSIONS

  • XBRL is creating value in financial organizations, firstly focused on external reporting and, afterwards, on the internal one.

  • Nowadays, there are few organizations working in XBRL projects. The main initiatives are the result of Regulators demands.

  • The commitment of market agents is required for the success and consolidation of XBRL.


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