Minutes June 28, 2017

EIOPA update
The PWD of the 2.2.0 taxonomy has resulted in a number of findings. Below some.
All assertions are doubled in two severance levels, this lowers performance.
Custom functions are not working properly (eg. ISIN checksum)
Table 99 is having issues, eg. with decimal item types coded with pi in stead of ii.
TV1000-1001 check every single monetary fact versus the unit and the reporting currency.
This hits the performance enormously as soon as the instance is growing.
TV5 and TV9 are similar which checks on the typed members.
EIOPA should think about improving this.
On the other hand, some old assertion problems have improved between 2.1 and 2.2.

Function on ISIN code has to be revised: it should first check the format and then the checksum and not the other way around.
Moreover, such massive check should not be triggered via assertions, but via a schema check (eg. pattern check).
It’s best to include this in the XII library. The group recommends a dialogue between EIOPA and XII.
Known issue n° 90 : sometimes there exists no collateral for some financial instruments, in which case the field is empty where it should not be empty. This is to be solved by each NCA (e.g. by asking to put ‘none’ or ‘NA’ in such a case)

EBA update
version 2.7 was released including IFRS9. Companies with a booking year <> actual year (eg. closing on 30.09) will have to continue to use the 2.6 version for some time more.
2.5 en 2.6 have some assertions with no preconditions, so they are always triggered. For some filers, they should not be triggered (eg. Portugal)

ECB update
datapoints taxonomy includes all FINREP taxonomy tables

SRB
is elaborating the next version of the EAC taxonomy, no official news yet

AOB
Eurofiling XBRL Week was a big success, thanks to all for participating and for supporting the Eurofiling Foundation.

Next meeting
Last Wednesday of July, one main topic: 2.2 official release of EIOPA

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Minutes June 7, 2017

Group discusses good and better practises across Europe.

Topic about some taxonomies not actually stored on their intended URI
Suggestion: if so (and in other cases) please register online with XBRL International.
Note: Eurofiling taxonomies are stored in the Eurofiling domain.

Discussion about multilingualismof taxonomies. It’s a complex and time consuming process.
Eg. SRB has produced an 11-lingual taxonomy. EIOPA is making plans to introduce multilingualism

It would be nice if Filing rules were harmonised EU-wide.

Online Q&A resources are very useful but may be less handy if you want to query them.

Discussion about having a test system. The group thinks it would be good if the vendor members of XBRL Europe stepped in and took each a part of testing public working drafts of taxonomies before they are official.

Validation messages are in some cases reliant on the XBRL specification (eg. dimensionally invalid in base etc..) which stems in fact from the XBRL standard. A human-friendly-error-message modus could be nice.

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Minutes April 26, 2017

Draft being finalised.

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Minutes March 29, 2017

1) EIOPA update.

EIOPA continues to work on version 2.2.0 which will include business corrections and amendments.
The amendments in the Legal text (ITS) still not confirmed but the scope of suggested amendments is not having material changes but only the result of correcting mistakes reported to the public Q&A tool of the SII and the xbrl mailbox. Mainly correction of labels and clarifications.

The taxonomy will have a relatively big set of technical enhancements for ao. extensible enumerations, reporting for special cases and other that will be detailed in the June PWD.

PWD is scheduled to be available early June, by mid July the official taxonomy will be final for publication.

Later in the year – by first December according with the EIOPA’s public Governance of taxonomy– it will be decided If there will be a corrective release.

As published in the EIOPA website, due to budget restrictions EIOPA will have to decommission the T4U from the second half of 2017 after undertakings have conducted the first Solvency II reporting exercise. The Tool will not be updated to support the 2.2.0 or following taxonomies. EIOPA expects that market providers will be able to reuse and support the solutions developed by the T4U project and has made the tool available through an open source model.

2) EBA update
2.7 will be released incl. IFRS9. There is a small issue with filers who have their closing year not matching the calender year.
Some assertions have issues comparing sums of facts with a constant; this does not work fine with interval arithmetics.
EBA is inquiring to have a 2.6 hotfix, which will probably be released before the end of April.

3) ECB
DP taxonomy is based on EBA’s 2.6 taxonomy.
Each NCA decides to implement or not, choosing to enable only DP tables or the full tables which are also part of the taxonomy.
The group wonders if it would not be useful for ECB to set up a contact point for questions.

4) Frankfurt agenda discussion.
See 2017.eurofiling.info for more information. Registration Desk opens today.

Administrative.
Henceforth and until further notice, the SR Working Group call will take place on the last Wednesday of the month.

Next conf call:  April 26, 2017

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Minutes February 23, 2017

F2F meeting in Amsterdam (see minutes)
Well attended.
Several topics were discussed:
consolidation scopes and the challenges which are caused by them,
instance generator, taxonomy generator
XBRL certification is considered counter-productive by Working Group members
Note. in the slides shared afterwards via the googlegroup mail, the “s. datapoints” (i.e.with double meaning, on slide 6) were renamed to “Musical Chair Datapoints”

EBA news
In April 2017 EBA is expected to release the taxonomy 2.7.
A known issue with some data points in 2.6 (tables C09.04) may trigger a corrective release, but it’s highly unlikely with the info we have today.
Discussion on additional validations which are today triggered by ECB and NCA’s.
EBA will include some of them in future taxonomies.

ECB news
FINREP Datapoints taxonomy will be published by ECB. Let’s monitor when that happens.
The Working Group would be delighted if the ECB owner of this taxonomy could join the monthly call.

EIOPA news
Nothing new since the last call.
The Working Group considers it would be nice if the Filing Rules were the same between EIOPA and EBA.
A Working Group member mentions that the Ad Hoc entry point is only used in Italy

XEU news  
- a permanent academic working group has been founded within XEU, with academic researchers in the lead. More info with XEU, call for volunteers to join the initiative.
- new strategy and new bylaws in XEU to be more inclusive towards countries with or without XBRL jurisdictions.

XII’s LEI validation taxonomy
Call for feedback onto XII’s LEI Taxonomy initiative before the public release.
The taxonomy package and a sample test instance can be found here:

https://xbrl.box.com/s/2b40241vtenibisxnfazxynvbq7tk1av

Upcoming events
XBRL Week: 6-7-8-9 June, 2017 :
6 Tutorials, working groups, …
7 XEU day, Academic Track, Networking Dinner
8 Eurofiling Workshop and Academic Track
9 Working groups etc.

call for speakers will follow in March
Next conf call: March 30, 2017

*** thank You for participating – people make the difference ***

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Minutes, February 15, 2017 Amsterdam F2F

  • Points of attentions
    • 6 months is not enough to introduce new XBRL specifications in taxonomy after their ratification
    • EBA has introduced new labels for its filing rules : EIOPA should use labels too, and these labels must be the same than EBA’s ones
  • Sub-consolidation groups
    • Concerns about the way the data can be visualized with option 4
    • Option 1/2/3 would change the key identifier of an instance (entrypoint/lei/reference date)
    • Sub-consolidation could be achieved with a defined aggregation
    • No ideal proposition, maybe a mixed solution.
  • Use of Instance Generator
    • The WG members are enthusiastic to use it
    • UK taxonomy already asks this information in the form of a fact
    • An attribute ‘@settings’ could be added. Some providers have a lot of ways to generate instances
    • The filing rule is a ‘should’. Some members showed concerns about the fact that some countries interpret a ‘should’ as a ‘must’, and ask for only ‘must’ rules.
  • Provider certification by XBRL International
    • Members didn’t show enthusiasm for this subject
      • XBRL is an open standard, incompatible with certification
      • Software provider could fail certification for personal/technical choices
      • Certification could take long
      • Who, how, with which cost?
      • Nevertheless, it could bring attention on XBRL
  • Ideas
    • Create a processing instruction ‘taxonomy-generator’ for taxonomies on the model of the ‘instance-generator’
    • Encourage collaboration of the various entities defining their own filing rules, specifications
    • Encourage dialogue between software providers about encountered problems
    • Feedback on supervisory consultations
      • Software providers are sometimes disappointed by the return given to them by authorities, they feel like their opinion is not taken into account
      • Supervisory WorkingGroup/Eurofiling could be a good channel to express concerns and speak about problems found by members to the authorities
    • Taxonomy generators could be invited to our meetings
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Minutes, January 26 2017

EBA news

EBA 2.6 was published with the following relevant features:
° Table linkbase update (2014) and
° Extensible enumerations: the data type of the existing ei-elements were switched
° 2.6 is a complete standalone (where 2.5.1 was interlinking between versions)
° Functional changes in tables are only related to SBP
° There should be no table or definition differences in all the others.
° validation rules have been revised in general
° 3 rules use the severity spec for warnings

Note: if there would somewhere be a business reference to DPM 2.6.0.1, this should be interpreted for the time being as 2.6.0 until further notice.

EBA 2.7 Exposure Draft has been released for review by stakeholder (link)
Call for volunteers to examine this version!
It’s EBA’s intention to finish taxonomie 2.7 around April

EIOPA news
° Taxonomy 2.1.0 is live and being implemented in Europe
° EIOPA will not release a corrective release 2.1.1, therefore the next version will be the 2.2.0 by 15 July 2017
° there are a few issues which are related to TV0 (check between the content template and filing indicators), which will probably need to be deactivated. More news will follow via EIOPA site in the second half of February.
° ad hoc entry point: after analysis is seems that this is not used in practice.
° on the other hand, there are some specific cases where a different combination of tables is required (for example resubmission of template S.30 and empty reports), EIOPA is analysing the options and will publish how to report it for 2.0.1 and 2.1.0 taxonomies, probably using regular entry points and not the ad-hoc entry point

ECB
° FINREP data points taxo will have 12 tables, is being finalised as an extension on EBA 2.6 (3 entry points con_gaap, ind_gaap, ind_ifrs). These 12 tables are cut-down tables on existing tables.

Initiative about questionnaire (Vincent)

XEU day: 16.02.2017, Amsterdam
XBRL Week: 6-9 June, 2017, ECB premises, Frankfurt

Next conf call: February 23, 2017

 

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Minutes, November 24, 2016

EIOPA update

- license will be soon updated to 1.3, will be more relaxed in favour of the taxo user
- schedule will be updated in the first week of December
- 2.1.0 will probably not need a corrective version probably, so no 2.1.1 planned
- probably an update on list of issues and validation list will follow
- adaptive release 2.2.0 will be made in spring 2017:
° bus rules and some changes on templates
° scheduled to be published in July with usual consultation round
- more info on 2.2.0 in a next conf call
- T4U will no longer be supported after June 2017, the tool is equipped with as final version 2.1.0

EBA update
- 2.6 is probably released to the public in the next few weeks. It’s making use of the extensible enumations spec
- 2.7 some new technicalities are being discussed internally at EBA. It will be impacted by IFRS9.

ECB
- an XEU working group is dedicated to Anacredit with on its wishlist proposing a EU standard
- at this moment nobody is using XBRL for this reporting, but experiments are ongoing with variants from the OIM

Feedback from Singapore
- 250 attendants, of which may known EU-faces, but mainly Asian attendants
- interesting sessions, also on blockchain and artificial intelligence
- regulators were sharing their experience, in general everything is going well, happy with the choice for XBRL.
Alessandro Bonara from ECB was there also sharing statistical info on the ECB implementation

Feedback from XII, standards board:
updating ext.enum spec (in the next weeks) to acommodate lists of items
update to table linkbase spec, more relevant for Asian taxonomies – minor changes
update to OIM, working draft on JSON spec and representation in a CSV-like format
update to formula spec to work with eg. subsets, also update in the formula syntax (‘easier to read, easier to write’)

Feedback from xbrl.es’ successfull conference, November 17:
110 registrations, speeches from XEU Chairman B. Tesniere, ECB F. Laurent
presentation available on xbrl.es

Upcoming events:
XBRL France conference 05.12.2016
XEU day: 17.02.2017, Amsterdam
XBRL Week 2017: 5-6-7 June, 2017, Frankfurt. will have an academic track, if enough papers are available. Centralize the contacts via Ignacio Boixo

Next conf call: January 26, 2017

MERRY X-MAS and HAPPY NEW YEAR !

sneeuwlandschapje

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Minutes October 27, 2016

EBA

2.6 and 2.7 feedback from meeting about draft taxonomies

2.6 spilling assertions and variables related to grey cells are being fixed
new features: upgrade to new table linkbase spec and severity spec and warnings
a warning does not mean that there is not a problem, but the instance is not rejected and may have to be fixed anyway afterwards.

The accommodation of different levels of consolidation are being studied :
1° add dimension members, or start using the segment element
2° include conso info in the entity identifier value (which is the simpliest way)
3° use element in taxonomy to represent consolidation information
WG SUB level should take the lead so that the technical solution can be elaborated.

Discussions are ongoing to change more frequently the assertions. Solutions are being studied. Difficulty : changing taxonomy files means updating systems everywhere.
The group agrees that the approach would be best aligned between EBA and EIOPA.

Question on the processing of filing indicators with attribute “filed=false” in EBA filings.
Different NSA’s have different views on filing indicators, which is explained in EBA EFR 1.6

Example of Luxemburg’s view on filing indicators:

https://www.cssf.lu/fileadmin/files/Reporting_legal/Recueil_banques/Identification_rep_requirements_checks_2nd_level_completeness_031016.xlsx

Central EBA page with taxonomies:

http://www.eba.europa.eu/regulation-and-policy/supervisory-reporting/implementing-technical-standard-on-supervisory-reporting-data-point-model-

EIOPA 2.1.0
no news

ECB – AnaCredit
no news

ESMA
no news

XBRL Int’l group on LEI with GLEIF.

Next meetings: XBRL FR has meeting on December 5, Singapore conference

Next call 24.11

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Minutes September 29, 2016

Group discussion on timelines of EBA, EIOPA taxonomies.

Feedback from XEU working group on AnaCredit, which has elaborated and discussed with ECB stakeholders a proof-of-concept taxonomy for AnaCredit.

 

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