2021.02.24 minutes

SRB update
1) SRF 2021 cycle is now closed. We are preparing the 2022 cycle to be published by end of July 2021.
2) ResRep 2021 cycle will be open on 1 March 2021 (Taxonomy RES 5.0.7 published on 30 Sep 2020 on SRB website).
We are also preparing the collect of the MREL_TLAC in XBRL for the reference date 30 June 2021 (included in EBA3.0 Ph2)

ECB update
SFRDP 5.0 taxonomy : the plan is to provide a draft version by mid-March available to NCAs for testing and implementation in their systems, and the final publication in April, depending on the publication of the ECB FINREP regulation which in principle is also planned for April.

EBA update
3.0 phase 2 is in review internally. Taking into account comments.
Currently planned for publication by mid of March if Board of Supervisors approves.
It contains new frameworks: MREL/TLAC, impracticability, revised version of AE, GSII.
Plus, a hotfix for COREP and FINREP (no changes in datapoints, mainly validation rules).

Then focus on 3.1. Framework for Investment firms, also resolution and SBP. Maybe in one phase, but maybe in two phases depending on EBA resources. Investment Firms in May and resolution and SBP in July. This will include JSON files to support XBRL-CSV.

EIOPA: no update

ESMA update
Currently waiting for publication of IFRS 2021 taxonomy planned in March to update the ESEF taxonomy.
Clarification on several areas (from stakeholder questions) will be published.
Small update in March-April, following the usual major update in July.
Ongoing consultation of EC on EU single access point. ESMA will contribute, it will be published next week, and others are encouraged to contribute as well as it is a key project for the EC (contributions until 12th of March here).
Increase machine readability of documents = necessity for the EU single access point

Upcoming events
Eurofiling event is in preparation for 11 March 14:00-16:00. Virtual online conference. For free. Panelists welcome! Idea is to provide a potential solution for structured reporting on Environment, following the lessons learned in financial reporting.
Periodicity and timetable according to the results of the Eurofiling survey.
Registration and information via https://2021.eurofiling.info/
Some ideas on non-financial reporting and how/where to find ESEF published documents.
Data Amplified (XBRL International) virtual event on 14-16 April. For free.

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2021.01.27 minutes

SRB update

Data collection for SRF is ongoing. Data collection for LDR starts in March.

The project to update the taxonomies for the 2022 cycle will start soon.

For SRF only minor changes like additional risk indicators are expected.

LDR will be based on the Resolution framework provided by the EBA 3.1 taxonomy.

EBA update

3.0 Phase 1 is published.

Errors were found in the definitions of table C 47 and C 84 resulting in an in place update (a.k.a. hotfix) of the taxonomy leaving the publication date unchanged. Please note that the instance files created with the initial version are not compatible with this updated version of the taxonomy.

3.0 Phase 2 is expected to be published by the end of February. EBA plans to release an internal draft to NCAs for testing around mid February.

Some errors were found by users in the sample instances provided by EBA: naming convention not adhered to and samples for removed frameworks still exist. These errors will be fixed by EBA.

Release 3.1 is expected to be published by end of May. That could move to early June.

Please note that EBA has an email alert service that includes releases of the taxonomy. You can sign up to it from their website https://www.eba.europa.eu/subscription-page. There is also an rss service

ECB update

Development of SFRDP 5.0 has started and is expected to be finished by early March.

Publication of the taxonomy must follow publication of the ECB regulation, so is dependent on that.

As SFRDP 5.0 follows the EBA taxonomy it is expected to also use 4 digit column and row codes.

EIOPA update

EIOPA will publish during February the first Public Working Draft for the new Pan European Pension Funds Products (PEPP) regulation

EIOPA and EBA have resumed the work on DPM refit initiative. We encourage to the NCA to provide feedback about the first shared package by the end of January.

ESMA & ESEF update

There was a political agreement on the member state option to delay ESEF obligations by one year at the end of 2019.

Some Member States have already informed their issuers about their decision on delaying or not.

Information on which Member States will delay ESEF will be available on the European Commission website (page dedicated to the Transparency Directive) as soon as Member States will notify the delay to the Commission.

Events

Data Amplified will be organised on 14, 15 and 16 April via web.

Eurofiling sent out a survey on topics for events. (https://eurofiling.info/portal/survey)

First results are that there is strong interest in supervisory reporting (EBA/ECB/EIOPA/SRB), ESEF (ESMA) on a quarterly basis for 2 hours in the afternoon.

Eurofiling also sent out a survey to find out of there is interest in receiving or providing (paid) XBRL training.

Topics mentioned introduction to XBRL, ESEF, supervisory reporting and assurance on XBRL. Limited interested in technically more advanced topics like DPM.

More response is very welcome, so please go to https://eurofiling.info/.

Other business

The European Commission has published a consultation on the establishment of a European single access point (ESAP) for financial and non-financial information publicly disclosed by companies.

For More information go to https://ec.europa.eu/info/consultations/finance-2021-european-single-access-point_en

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2020.11.25 minutes

EBA update:
An internal working draft of taxonomy 3.0 phase 1 has been shared with NCA’s.
Feedback on it is incorporated in a second IWD.
The decision to publish the taxonomy by the Board of Supervisors is scheduled for mid December, after which the taxonomy will be publicly available.
3.0 phase 2 will contain the MREL/TLAC framework and is expected to be also published by the end of the year.

Taxonomy 3.1 is planned for release in February of 2021 containing, amongst others, data collections for investment firms.
This release will contain the JSON metadata necessary for submitting reports in the XBRL-CSV format.

Info: EBA is collecting REMUN data at the moment for reference date 2019-12-31

ECB update:
ECB has started development of the SFRDP taxonomy extension, which is an extension of the EBA 3.0 taxonomy. ECB expects to publish the taxonomy in February 2021.
ECB is investigating the cost-benefit analysis for the usage of xBRL-CSV.

EIOPA update:
EIOPA is finalising the PEPP KID taxonomy that will be published by end February 2021. This is the first package corresponding with the new EIOPA´s PEPP regulation.
EIOPA together with the EBA will present the first package of the DPM Refit project to the NCAs and other EU authorities on the 11 December.

ESMA update:
The EU has adopted the RTS and ESMA is now finalising the labels and translations in the 2020 taxonomy package. Publication will be done in the next several weeks, together with an updated conformance suite package.
A question was asked on the diversity of implementation of the requirements on audit of ESEF in different Member States. ESMA indicated that it has no direct role in this topic, but that some degree of coordination is taking place within the CEAOB (Committee of European Audit Oversight Bodies) through meetings in a dedicated task force, to which ESMA is also observer.

SRB update:
SRF taxonomy 6.0.2 is being used; no changes made yet.
ResRep taxonomy 5.0.7 production portal will be open in March for NRAs.
Some applications that a based on a component from a single vendor produce errors for rules v1052-v1061. This processor is too strict in its handling of filing indicators. SRB will send an informative document to NCA’s shortly.

Upcoming events :
– in December some European XBRL jurisdictions are organising ESEF information sessions in the same week, see info on https://eurofiling.info/portal/events/.
– 17.12.2020: Eurofiling is organising a “Celebration of Hope“.

Next call
There will be no call in the last week of December.

Next call : Wednesday January 27, 2021 via the regular phone facility, see http://minutes.eurofiling.info/facility/.

Eurofiling wishes you a fine Christmas period!

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2020.10.28 minutes

ESMA update
No major updates in terms of taxonomies; draft RTS is still being considered for adoption by the EC.
After adoption new labels and translations will be published in the new taxonomy, together with conformance suites.
The EU council is considering to allowing member states to postpone the mandatory ESEF filing with one year. Each member state has to decide whether or not to use that ability. ESMA is not involved in this decision process. Voluntary adoption of ESEF by individual issuers alongside the original schedule is allowed and encouraged, nonetheless.

Comments on EBA
EBA is finalising the internal working draft version of the 3.0 taxonomy phase 1.
This first phase will be made available to NCA’s for review this week. It includes updated for the frameworks COREP, FINREP, AE and a new framework GSII.
Phase 2 (expected early December) will contain another new framework MREL/TLAC.
As of EBA 3.0 EBA will use a different architecture for the taxonomy: the severity level of assertions will be moved in a new location in the taxonomy so that this aspect can be maintained separately from the validation rules.
Version 3.1 is planned for February next year, it will be possible for NCAs (and their banks) to start using the XBRL-CSV file format from that taxonomy version.

ECB update
No new developments at the moment. The ECB is awaiting EBA 3.0 before starting new works on the SFRDP taxonomy extension on that taxonomy.

EIOPA update
EIOPA will publish an update of the 2.5.0 taxonomy on Monday 2 November 2020. It is a hotfix, replacing existing files, for a number of non-working validation rules.

SRB update
The SRF taxonomy v6.0.2 has been published at https://srb.europa.eu/sites/srbsite/files/srf-eac_6.0.2_multilingual_complete_package.zip.
The portal will be opened for NRAs at the beginning of November. The reference date will be 2021-01-31.
The LDR Resolution taxonomy v5.0.7 has been published as an extension to EBA 2.10; production portal will be open in March for NRAs.

Eurofiling DPM seminar
October 22 2020, Eurofiling organised an online seminar on DPM which was extremely well attended. The presentations can be found at the Eurofiling website: https://2020.eurofiling.info/.

Next events:
– the Data Amplified conference organised by XBRL International that was scheduled for November 2020 is postponed to spring next year.
– in December some European XBRL jurisdictions are organising ESEF information sessions in the same week. See https://www.xbrleurope.org/?p=3831 for more information.

AOB.
Ignacio Santos has written an academic paper about DPM. This paper will be discussed at the conference  of computer Science, Webist 2020 (http://www.webist.org/home.aspx), from November 3rd to 5th.
The paper is titled: Life Cycle of Software Development Design in European Structured Economic Reports.
If you want participate in the conference, you can send an e-mail to webist.secretariat@insticc.org

 

Next call: Wednesday November 25, 2020 via the normal phone facility (freeconference call) at 10:30 CET. See http://minutes.eurofiling.info/facility/ for details.

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2020.09.30 minutes

ECB update.
No particular update. The SFRDP taxonomy was published in June and is being used. ECB has intentions to publish the SFRDP extension to the EBA 3.0 taxonomy faster in comparison to this year, to enable more preparation time to the stakeholders.
There is no extension planned to the EBA COVID19 taxonomy.

EBA update.
EBA is elaboration the 3.0 taxonomy; to be published in 2 phases :
1) COREP, FINREP, AE, GSII
2) MREL/TLAC
New taxonomy architecture is deployed to store severity in a separate folder (set) in the taxonomy as from that moment on.
3.1 taxonomy is expected after 2021-02, which includes new reporting frameworks such as Investment Firms, but also changes to SBP and Resolution.
EBA has decided to allow as from 3.1 the OIM xBRL-CSV format as a result of the Task Force on Evolving the Reporting Format. This new format complies with the requirements to modernise the supervisory reporting format.
EBA will present the conclusions during the next online Eurofiling day.
EBA is working on the DPM refit project with EIOPA.

EIOPA update.
EIOPA is working on the DPM refit project with EBA.
EIOPA confirms that will issue a taxonomy hotfix on 1 November 2020 for the 2.5.0 Solvency 2 and Pension Funds. The hotfix as in previous years will only correct the non-working validations, without any further change.
EIOPA will publish an update today of the public list of validations indicating as “under investigation” the assertions which are identified as to be corrected in the 1 November hotfix. EIOPA calls for the interested stakeholders and users to submit any useful feedback related the 2.5.0 taxonomy and validations before the 15 October in order to be in time to address them in the 1 November hotfix.

SRB update.
SRF taxonomy is published and the portal will be opened on October 1st for testing, November 1st for production.
RES taxonomy 5.0.7 will be published today as an extension on EBA 2.10, with updates on validation rules.
The data are expected at the end of March for LDR, all the rest for end of April.

ESMA update.
There is no significant update from ESMA on taxonomies compared to the last meeting: ESMA is waiting to hear back from the Commission on endorsement of the draft RTS and for the translations of the labels, after which ESMA will publish the 2020 taxonomy files.

Upcoming events.
– Implementing ESEF: Opportunities, challenges & way forward. Accountancy Europe. October 12.
– Eurofiling DPM event, October 22 15:00-17:00 CET with various speakers (see 2020.eurofiling.info). Registration open here. Data Point Modelling was created as a CEN standard in format of a CWA and is widely used across Europe in Supervisory Reporting, moving to an ISO standard is in preparation.

AOB.
XBRL Spain is working on an user-friedly XBRL viewer for financial information of Banks now published by the Bank of Spain also in XBRL format.

The instructions to join eurofiling@googlegroups.com (distributiom list with 400+ subscriptors) are available at http://minutes.eurofiling.info/facility

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2020.08.26 minutes

EIOPA update

Comments from EIOPA:

EIOPA will probably deliver by 1 November a hotfix for the 2.5.0 taxonomy. Similar to other previous years only the non-working validations will be fixed.

EIOPA is following the XBRL specification development in the context of TFERF which are planned to be applied for Solvency 2 and Pension Funds taxonomy by 2.7.0 release (about June 2022 release).

EIOPA is working with the EBA and ECB on the “DPM refit” during this summer.

SRB update

Comments from SRB:

SRB has published to the NRAs the taxonomy for the Single Resolution Fund reporting; new Filing Rules are also issued.

After approval of the Board (in September) the pack will be published.

ESMA update

Comments from ESMA:

ESMA published in July an update to the ESEF Reporting Manual.

Future publications (expected in Autumn): 2020 XBRL taxonomy files and 2020 Conformance Suite test files.

Feedback is welcome at esef@esma.europa.eu.

In response to question by one attendant, ESMA staff indicated that the update to the IFRS taxonomy linked to the covid19 related rent concessions (IFRS 16) which was published by the IFRS Foundation in summer is not expected to be incorporated into the 2020 taxonomy. Therefore preparers will need to create extensions (see guidance in the Reporting Manual).

EBA update

No update from EBA.

Comments from participants:

Taxonomy 2.10 was released in its final form with a small update on SBP on August 3.

ECB update

No update from ECB.

Upcoming events

  • Eurofiling DPM event on 22 October 2020

Data Point Modelling was created as a CEN standard in format of a CWA and is widely used across Europe in Supervisory Reporting.

More info on https://2020.eurofiling.info/.

  • Eurofiling Blockchain

event in preparation, date is to be determined and program is under development.

  • ESG Reporting.

On Environment, Sustainability and Government, date is to determined and program are under development.

Note: Eurofiling offers the possibility to anyone to organize other events in the area of European Regulatory Reporting if in scope of the bylaws of the Foundation. Please contact the Eurofiling Foundation who can provide you with logistics and publicity to attract the audience.

Next call

Wednesday 30 September 2020 via the normal phone facility (freeconference call). See http://minutes.eurofiling.info/facility/.

 

 

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2020.06.24 minutes

ECB
Comments from ECB:
SFRDP v4.0.0 is published on the ECB website.
First reference date is 30 June 2020.
ECB will do its best to publish the next version of the taxonomy at an earlier moment in time.
Publication of this version was delayed by delays in the publication of the EU regulation on which it is based.

EIOPA
Comments from EIOPA:
EIOPA has published a draft taxonomy for the 2.5.0 release covering reporting by insurers and pension funds containing also the ECB add-ons.
Comments can be send to EIOPA until the end of this month.
First reference date for 2.5.0 is 31 December 2020.

ESMA
Comments from ESMA:
Working on:
1. Draft RTS to make available the 2020 IFRS taxonomy for ESEF tagging published last week, to be adopted by the European Commission and by European Council / Parliament hopefully by end of this year. ESEF 2020 taxonomy is mandatory to be used for 2021 financial statements. Voluntary for earlier financial statements.
2. Draft ESEF XBRL taxonomy files based on the IFRS 2020 taxonomy including translated labels – translations provided by EC and publication by ESMA expected in Q3/Q4.
3. Update of the Conformance suite,
Publication expected in Q3 or early Q4
4. ESEF Reporting Manual update 2020 , notably for topics like anchoring of extension domain members and recommendations on naming conventions
Publication expected for July 2020.

GLEIF and ESMA collaborated on the 2019 GLEIF annual statement to serve as an example of ESEF report.

ESMA has taken note of the recommendations by the High Level Forum on capital markets union to the European Commission calling for an EU single access point for company’s public information.
ESMA stands ready to implement such an infrastructure, if so tasked and if adequately equipped with ad hoc funds, as it would enhance the value of those disclosures.

SRB
comments shared by SRB:
No changes to earlier statements on the taxonomies and submissions.
Summary of those earlier statements on taxonomies:
1. SRF-EAC taxonomy will be published in July of 2020.
2. SRB-ResRep taxonomy (based on EBA 2.10) will be published in September of 2020.

EBA
Comments from EBA:
EBA 2.10
Phase 1 is published in April ( frameworks FP, REM and PAY).
Phase 2 contains new versions for SBP, COVID19, RES and FP.
Funding Plans being a patch on the version included in 2.10 phase 1.
An internal working draft version is under review by NCA’s.
COVID might become an additional framework instead of a module in FINREP.
All row and column numbers in SBP will use 4 characters (e.g. 0010),
Publication of 2.10 phase 2 is expected for 10 July following reviews by EBA SCARA and the Board of Supervisors.

EBA will accept submissions on COVID19 in XBRL and Excel for the first reference date (2020-06-30), but only XBRL as from 2020-09-30 reference dates.
EBA will accept submissions on REMUNERATION for reference data 2019-12-31 in Excel and XBRL.
EBA 3.0
Publication expected for September 2020.

TFERF
EBA is studying the improvement of the reporting format within its Task Force TFERF which is a collaboration between EBA, NCAs, European authorities and XBRL International.
Challenges faced by EBA are very large files (> 1 GB) and simplified file formats.
TFERF is looking into the suitability of xBRL-CSV. EBA is considering accepting submission using that format as of EBA 3.1.

Events
Eurofiling is planning to organise events around blockchain in September and around Environmental, Social and Governance reporting in October of this year.
Data Amplified will be held in November of this year.

Next call
No call in July.
Next call on Wednesday 26 August at 10:30 AMS time (i.e. UTC +1) using the FreeConferenceCall.com facilities.

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2020.05.27 minutes

SRB

Comments from SRB:

  • SRF taxonomy is going to be published in July, testing by NRA will be possible as from September/October.
  • LDR taxonomy (ResRep) is an extension on EBA 2.10 (Resolution framework). SRB adds entry points and modifies validation rules. No SRB-specific data points.
    The taxonomy is going to be published in September. Testing is possible by NRAs as scheduled.

Comments from SRB following questions from participants:

  • As this version is similar to the previous version the amount of data reported is expected to be similar as well.

ESMA

ESMA provided the following update:

  • The main update is that ESMA is finalising the update of the RTS on ESEF which is expected for publication in the first week of June.
    It will contain an update of the ESEF taxonomy to mirror the 2020 IFRS taxonomy.

EIOPA

Comments from EIOPA:

  • 2.5.0 PWD is going to be published in the beginning of June, EIOPA foresees a period for comments and testing by industry and NCAs.

No significant changes when compared to 2.4.0.

ECB

Comments from ECB:

  • The official publication is still pending but the SFREP taxonomy is already out for testing.

Testing has shown that some validation rules are not to be evaluated, they will be blacklisted soon.

First remittance date is in September on reference date 2020-06-30.

EBA

EBA provided the following update:

  • DPM 2.10 phase 2 is in development phase now, a draft version should be published at the beginning of June.

Four frameworks:

  • Resolution
  • SBP
  • Covid-19 templates
  • Funding plans: a correction on the taxonomy published as DPM 2.10 phase 1: the correction is on P 02.06, a dimension CCA with value CA:x1 will be added to indicate that this table should be reported in the original currency.
  • TFERF: EBA plans to accept both XBRL-XML format and XBRL-CSV format from DPM 3.1.

Comments from participants:

  • Covid-19 reporting will be possible in Excel and XBRL format to the EBA for the June reference period.
    For the September reference period only XBRL is accepted.

Events

Comments from Eurofiling:

  • Eurofiling is organising a few online events as announced on the website https://2020.eurofiling.info/:
    Thursday 28 May on ESEF.
    Wednesday 24 June on xBRL Innovation.

Comments from participants:

  • XII News: Virtual 2020 Back to Physical 2021. The XBRL International Board decided at its May meeting that the normal F2F conference that was being planned for the first week of November will not go ahead as a physical meeting, as the Covid 19 pandemic creates too many uncertainties. Instead, XII will be hosting a virtual event that should provide a significant opportunity for all those involved in digital reporting to interact and discuss innovation in this field. Please stay tuned for “Save the date” and calls for presentations etc.

    XBRL International does not expect to try to run a physical event in the first part of 2021. Instead, it’s expected that Data Amplified 2021 will go ahead as a physical meeting in late October/early November as usual. Please mark your diary and obtain pre-approval for this necessary travel!

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2020.04.29 minutes

SRB

Comments from SRB:

  • SRF-EAC taxonomy for 2021 will be published end of July. The collection portal opens on Nov 1st.
  • ResRep 2021 will be published at the end of September, assuming a timely availability of EBA taxonomy v2.10 phase 2.

ESMA

Comments from ESMA:

  • ESMA is updating the RTS and updating the taxonomy to include the IFRS 2020 taxonomy. Package to be send to the EC next month. Publication, after official translation, expected for September. Mandatory for reports with a reference data in 2021, optional for reports referencing 2020.
  • The conformance suite published did not take into account all recently updated specifications from XII.
    The conformance suite will be discussed in detail at the ESEF Day on 28 May 2020 via WebEx. More information on this day at https://2020.eurofiling.info/.
  • The reporting manual will be also updated and published in July.

Comments from participants:

  • xBRL-EU working group is looking at the conformance suite and will provide comments to ESMA.

EIOPA

Comments from EIOPA:

  • EIOPA issues Recommendations on supervisory flexibility regarding deadlines of supervisory reporting and public disclosure by insurers. Including the technical specifications for the implementation with the 2.4.0 Solvency 2 taxonomy.
  • EIOPA issues an Statement on principles to mitigate the impact of Coronavirus/COVID-19 on the occupational pensions sector in Europe.
  • EIOPA extends the deadline till 1 June the Public Consultation on the review of technical implementation means for the package on Solvency 2 Supervisory Reporting and Public Disclosure

ECB

Comments from ECB:

  • ECB regulation was published, which means that the SFREP taxonomy v4 can be published soon.
    ECB calls for volunteers from NCAs to test this version.

EBA

Comments from EBA:

  • v2.10 phase 1 was published in April.
  • v2.10 phase 2 is being built. Due to the corona crisis new reporting requirements will be included as decided by the BoS.

In this package three taxonomies will be included:

    • RES (expected draft mid May at the earliest)
    • SBP
    • COVID-19 reporting, based on 2 templates from FINREP with additional data points.
      • Quarterly submissions at individual  and consolidated level.
      • first reference date would be 2020-06-30 with first submission in September 2020
  • TFERF task force about new reporting format (OIM) is ongoing, technical task force is building a pilot case to demonstrate that xBRL-CSV addresses issues identified with large instance documents.

Events

Comments from Eurofiling:

  • Eurofiling is adapting to face “the New Normal”.
    Live conferences are delayed until further notice, meanwhile Eurofiling Foundation is organising several online events:

  • Eurofiling thanks the volunteers to provide material to the rest of the community.
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2020.03.25 minutes

EBA

Comments from EBA:

  • 2.9.1.1 published on 4 Feb 2020
    Some validation rules are found to be incorrect and are added to the exclusion list published on 12 March 2020.
  • 2.10 phase 1 contains Fraudulent Payments, Remuneration and Funding Plans.
    Fraudulent Payments and Remuneration are primarily used by NCA’s to submit data to EBA (where applicable via ECB).
  • 2.10.phase 2 is planned to be published in June including Resolution, FRTB (fundamental review of trading book) and SBP.
  • 3.0 is planned for development starting in August and publication in October 2020. EBA is conducting a study on the reporting format with a Task Force including ECB and EIOPA.

More specifically this task force is looking at the problems with large instances and validation performance.

  • EBA also works on guidelines for reporting by banks around COVID-19.

ECB

Comments from ECB:

  • ECB is testing SFRDP 4.0.0 taxonomy based on the latest changes made by the EBA in DPM 2.9.1.1.
  • It will be made public once the necessary changes in the ECB regulation are published.
  • The first reference date is June 2020 for which the remittance date is in September 2020.

EIOPA

Comments from EIOPA:

  • EIOPA has published public recommendations on supervisory flexibility regarding the deadline of supervisory reporting and public disclosure following the outbreak of the Coronavirus/COVID-19.
    Partial reporting approach and some flexibility on reporting timelines are recommended.
    More info: https://www.eiopa.europa.eu/content/recommendations-supervisory-flexibility-regarding-deadline-supervisory-reporting-and-public_en
  • Following this EIOPA will publish by early next week the taxonomy technical specifications to support those recommendations, which will mainly consist in some temporary deactivation of some business validations to accept the partial reporting but will NOT require of taxonomy updates (hotfixes).
  • EIOPA plans to update the public list of known issues and validations in the following 10 days.

ESMA

No update from ESMA.

Other comments, made during the call:

  • ESMA has published the “ESEF Conformance Suite” to facilitate implementation of the ESEF Regulation, to test and provide assurance on whether software tools are able to create and / or consume filings which are in line with all ESEF requirements. In particular, the Conformance Suite permits to determine if a software is able to detect and flag infringements to the ESEF requirements contained in a filing.

The Conformance Suite builds on the rules and guidance set out by the ESEF Regulation and the ESEF Reporting Manual. It consists of 157 XBRL report packages, grouped into 60 tests, packaged in a zip file. It is accompanied by an Excel file which describes the rules and guidelines and the test cases, together with the expected error codes in case of incompliance. For each identified rule and guideline there is at least one valid and one invalid test case.

More info: https://www.esma.europa.eu/press-news/esma-news/esma-publishes-esef-conformance-suite

SRB

Comments from SRB:

  • SRF-EAC will be updated with a few minor changes (labels) and potentially one new data point.

Tentative delivery date: end of July.

  • Resolution Reporting for SIs consists of Liability Data Report (LDR), Critical Functions Report (CFR), Financial Market Infrastructures Report (FMIR) and Commission Implementing Regulation on Resolution Report (CIR) defined in the SRB taxonomy extension. Resolution Reporting for LSIs consist of Resolution Report (RESOL) defined in the EBA taxonomy.
    Will be extension of EBA v2.10 RES (part of phase 2) expected to be published in September 2020 depending on the availability of the EBA taxonomy.
    Extension contains SRB specific entry points and validation rules, no data points.
  • All the information on which template to be filled in is gathered in the SRB public website: https://srb.europa.eu/en/content/2020-resolution-reporting.
    Please note: as stated on the web page, where an SRB Replacement Report exists (e.g. Z 02.00 is replaced by T 01.00), ONLY the replacement report should be sent by the bank (T 01.00) to the NRA.

Events

Comments from organisation committee:

  • Eurofiling Conference is postponed until the situation is more clear. Face-to-face meetings are highly unlikely before the summer. Eurofiling thinks about sharing pertinent information via webinars in a kind of virtual conference. With most Europeans working from home, live broadcasting may be a challenge.

More info: https://2020.eurofiling.info/

Other business:

Comments made the call:

  • Some initiatives arise in the XBRL community around non-financial reporting:

The UK FRC has published The Streamlined Energy & Carbon Reporting (SECR) Taxonomy.
More info: https://www.frc.org.uk/accountants/accounting-and-reporting-policy/xbrl-frc-taxonomies

The EC has started a public consultation (https://eurofiling.info/portal/public-consultation-on-the-review-of-the-non-financial-reporting-directive-nfrd/ )

See more in www.greenfiling.info.

 

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