Banque de France

Report
Implementing XBRL in
cross-sector supervision
_____________
Eric JARRY – Banque de France
[email protected]
Eurofiling
2013-06-19
1
European System of Financial Reporting
Europe
Jurisdictions
Reporters
NSAs
ESAs
XBRL
XBRL
CEBS
XBRL
XBRL
XBRL
CEIOPS
CSDB
Central
Securities
DataBase
XBRL
…
…
CESR
Joint Committee
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
3
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)
OneGate
XBRL
XML
SURFI
XBRL
Output
processing
ASSURANCES
Security
Authentication
Authorization
Certificats mgt
ASSURANCES
A S S U R A N C E S
AS S U R AN C E S
A S S U R A N C E S
Web data
entry
Transfer
protocols
Web
forms
Forms
handling
Forms
generation
Encryption
A S S U R A N C E S
Excel
Messages
XBRL
HTTP
XBRL
XML
Taxonomies
XBRL
Timestamping
Messages
XBRL
validation
(with
formula)
Reporting
database
(XBRL)
XBRL
XBRL
validation
(not
formula)
Conversions
(IPEBA)
XML
CSV
Excel
Common portal of Banque de France
(from National Bank of Belgium)
Taxonomies
Due time
management
Other flows
SAS
Application
Other
applications
Instances
and errors
processing
XML
EDI
SMTP
Views
generation
Excel
PDF
Excel
Signature
CSV
File
transfer
AS S U R AN C E S
ASSURANCES
Registry
Application
Registry
Appreciated practices
•
Give to each assertion:
• A clear label expressing the check: xxxx shall be equal to yyyyy
• A code
6
Generic messages / labels
Escaped XML element
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)
Excel to XBRL conversion tool
• 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)
Thank you.
Questions ?
[email protected]
10

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