Minutes November 28, 2018

Agenda

  • Roundtable on EBA, ECB, EIOPA, ESMA, SRB taxonomies and reporting requirements.
    • implementation of the EBA 2.8.1.1 taxonomy
    • Finrep datapoints taxonomy of ECB
    • EIOPA 2.3.0_hotfix taxonomy
    • planned implementation of EBA’s RES and SRB’s LDR taxonomy
    • roadmap of ESMA on iXBRL / ESEF
  • XBRL conference in Dubai
  • Upcoming events
  • AOB

EBA feedback

2.9 will be in bits and pieces, various consultations from the business side. No precise date yet on the first delivery, but it will be early in 2019.

Question on the consolidation levels matter: the technical solution is not decided yet, this is probably decided soon in the EUCLID project and will take effect in the 2.9 taxonomy.

ECB feedback

The SFRDP taxonomy was updated to version 3.0.0.1. see https://www.bankingsupervision.europa.eu/banking/approach/reporting/html/index.en.html

EIOPA feedback

The 2.3.0 hotfix was published in November, a number of validation rules were rewritten.

ESMA

The draft RTS is ready but the formal endorsement by the European Commission is expected later this year, after which the publication in the OJEU is expected in spring 2019.

Discussions are ongoing with EC on audit requirements on ESEF. It’s likely that the EC will publish an opinion based on existing legislation. This opinion is probably expected in spring 2019.

An interesting idea has been brought forward about – in the future – comparing the ESEF files issued by banks with their FINREP submissions to supervisors. In 2009 an analysis was made and at that moment around 14 concepts were a 100% match in F_01.01.

More information (from 2009) is available in : http://eurofiling.info/finrepTaxonomy/taxonomy/finrep-ifrs_interrelationship.zip

A question on extensions: ESMA does not limit the number of extensions, but extensions need to be made by using the anchoring principle.

SRB update

No changes this month

EBA Resolution reporting

For 2019, the EBA taxonomy entry point is not used in some countries, it’s not clear who will use this entry point.

Dubai Amplified Conference feedback:

– little attendance from European Supervisors

– discussions mostly about SEC or IFRS-style taxonomies

– ideas about calculation linkbase version 2, useful primarily for SEC/IFRS-style taxonomies

– interesting views from ECB (CASPER project) on data collection

– iXBRL (= a type of XHTML) was discussed and demos took place

– combining certificates and XBRL to provide guarantees to the public where data originates from, hasn’t been changed and/or has been audited by an accountant

– some sessions on new tech like blockchain, data mining, AI to retrieve information, etc.

– presentations can be found here: Presentations

AOB

XBRL US and the state of Florida are preparing a taxonomy for municipalities; XBRL Spain is helping with experience from the ESEF preparations. See more information on http://openfiling.info

Upcoming events:

– Eurofiling conference: mid June 2019 at the ECB in Frankfurt.
Topics include: tutorials, working groups, European supervisory taxonomies, future of digital reporting, machine learning.

– XBRL EU winter day: 7&8 February 2019 in Rome. Agenda to be published.

Next conference call 

30 January 2018 – 10h30 : Merry Christmas and a happy New Year !

 

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Minutes October 31, 2018

<!– start 10h30 – end 11h30 – attendants: 20; thank you for participating –>

EBA

  • Consultation is open on the 2.9 taxonomy.
    Please read and provide comment on it if applicable, for instance on the new, modular, approach and the numbering of those modules.
  • A few observations on 2.8.1.1 :
    – SBP entry point has a few problems, some columns are absent in the taxonomy.
    – CHN currency is present in the table linkbase, but not in the definition linkbase.

SRB

  • Published a new version (3.0.2) of Liability Data Report, which is an extension of the EBA 2.8.1.1 taxonomy. The extension consists of 4 entry points, which import EBA 2.8.1.1 tables and validation rules, and SRB-specific additional validation rules
  • all guidance and technical format for filing to SRB (by NRAs) are published on the SRB site (https://srb.europa.eu/en/content/liability-data-report)
  • links to old taxonomies are not crystal clear; suggestion is made to publish them in one place
  • SRB is working with EBA to include additional information needed by SRB for CF and FMI reports in the upcoming EBA 2.9 taxonomy.
  • the SRF taxonomy remains a taxonomy of SRB

ECB

  • Published a new version (3.0.0) of the supervisory financial reporting data points (SFRDP) taxonomy, which is also an extension of the EBA 2.8.1.1 taxonomy.
  • Extension contains new tables covering only the relevant data points and validation rules. Basicly, the new tables are cut-down versions of EBA tables.
  • no changes in dictionaries<

EIOPA

  • Insurance Solvency 2
    • 2.3.0 hotfix is going to be e published the next Monday 5 November.
    • About 200 new validations were included in 2.3.0. Several been now corrected in the 2.3.0 hotfix. However only validations are updated within the hotfix and not other changes are made.
    • The big “S2 review” project has started. Timelines to be defined but is expected to take between 2 and 5 years till have impact in taxonomy.
  • Pension Funds:
    • 2.3.0 final version to be published next Monday 5 November applying from Q3 2019 reference date.
    • PF has the same architecture than S2 and a common DPM dictionary. However is published as separated packages for S2 and PF.
    • Project has some relevant difference respect S2. Less templates but about 150K reporting entities and part of aggregated reporting to the EIOPA.
    • Taxonomy includes also the ECB PF reporting requirements (ECB add ons) similarly to S2 . Some technical instructions combining the EIOPA and ECB requirements in a single document to help the users of the unified taxonomy are been prepared.

ESMA

  • XBRL Int. is working on guidance for anchoring linkroles. A working group note on this is expected for the end of 2018.
  • OpenFiling has published solutions (http://www.openfiling.info/ixbrl/)
  • interesting new use case for Blockchain: iXBRL file with non-repudation, see http://www.openfiling.info/
  • Open Webinar, see the video record (https://youtu.be/oTHVjCZW9Ss) and the presentation slides (http://www.openfiling.info/wp-content/upLoads/data/XBRLchainWebinar20181029.pptx)

General

  • XBRL Int. is working on new version of the Table Linkbase specification that would allow a taxonomy autor to define the “grey cells” that are not to be reported.

 

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Minutes April 25, 2018

EBA 2.8 taxonomy
People are looking at the recently published taxonomy; it’s very useful to learn about new reporting features and mechanics. A few issues were detected which will lead to a new version.
New formula error message syntax, issue with custom formula which needs fixing. It’s not always doing what it is expected to do. XII Formula Working Group has provided feedback to EBA. The full set is not compiling in some processors. This feedback is also shared with the working group.
DPM2.8 also contains a RES which is partially differently in terms of modeling.
It has an impact on the volume of some instances, with a performance hit on validation.

EIOPA – no news

SRB
A discussion follows on the reporting frameworks. It’s uncertain if the reporting frameworks overlap or not with the EBA RES framework. The only certainty we have is that the reporting instructions for entities are communicated by the NRAs themselves.

Note from XII: OIM is targeting a PR for the core specs and the JSON specs for the end of May (Warsaw), while the CSV version is still in PWD status.
It’s the objective to enable instances in another syntax than XML.

ECB – no update

ESMA – no update

Eurofiling taxonomies: Paul will help with the setting up of this and the link to XII (thanks!).

Next event: Eurofiling XBRL Week in Warsaw, cfr. http://eurofiling.info/2018/
Since this event is on the last Wednesday of the month, there will be no Group call in May.

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Minutes February 28, 2018

EBA update

0- caveat: the “2.6.0.1 patch” must also be applied on the 2.7.0.1 taxonomy !

1- we need an official viewpoint from EBA about table C.66.01 : in what currency do the reporters express the amount in case of multi-currency ? The taxonomy and filing rules seem to suggest for table C.66.01 (in contradiction to other tables in the same report) that you report converted amounts into the reporting currency, while the taxonomy facilitates both scenarios. For a business user it’s almost invisible to see that you declare in XBRL a figure as being reported in the reporting currency.

2- in taxonomy 2.7, an enumeration on ALMM table C.67 is incomplete, it has 6 members and should have 8 according to the documentation. This *may* lead to a hotfix 2.7.0.2, it’s in discussion in EBA’s Yammer. More information in two weeks, once 2.8 goes out for BoS approval; until then, EBA has no time for this issue.

3- it is mentioned that several datapoints are identical in its aspects where they not always can be identical. This is being debated since some years now.

EIOPA update

Not much news for the moment. The group wonders if and how EIOPA will address multilingualism in its future taxonomy. Adding 20 languages will cause the taxonomy size to blow beyond proportion. The group suggests to look into the Taxonomy Package to achieve it.

SRB update

EBA has been drafting a taxonomy on resolution; will it replace the SRB taxonomy? No clarity at this moment, let’s wait for more news.

ECB update

A new version of the FINREP Data points taxonomy is published, following Finrep 2.7 IFRS9. Some countries do not use it, they impose the standard FINREP taxonomies or small institutions are not subjected to IFRS9 so they still use Finrep Datapoint 1.0 (based on Finrep 2.6).

It’s been published on 15 February : https://www.bankingsupervision.europa.eu/banking/approach/reporting/html/index.en.html

ESMA update

Openfiling will publish soon a new version of an open source inline XBRL converter which can address the simplest ESEF use cases. Made by Ignacio Boixo and Javi Mora.

We are awaiting the endorsement of the ESMA RTS by the European institutions before it has legal ground. This may take some months, more news to come.

Propositions are being made to add a supervision responsibility to ESMA. More news to come in this area.

Eurofiling taxonomies: Bank of Spain will send the latest version of its params.xsd to publish on the Eurofiling domain.

Warsaw: the suggested dates in the last week of May are possible for all the members present in the call. Some members ask to watch over not overlapping some working groups.

Next conf call is on Wednesday March 28.

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Minutes January 31, 2018

Meeting is held live in Copenhagen. Dial facility was not working properly.

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Minutes November 29, 2017

EIOPA update

EIOPA has delivered a hot-fix taxonomy on 24 November (see mail [Eurofiling 1275]). If no error is detected before 7 December, this version will be stored in the “canonical location” and used for production.

For the time being, no corrective version V2.2.1 is planned.

The hotfix no longer use the draft LEI taxonomy provided by XBRL International, but functions located at the URL http://eiopa.europa.eu/eu/xbrl/func/lei-check.xml

The assertion BV137 which caused problems (issue 126) has been rewritten to avoid using absolute values (the Eurofiling abs-sequence function is no longer used).

One participant mentioned that the change of the type of NB typed dimension domain, from integer to string causes problem. The dictionary should stay stable.

A draft version of the Pension Funds taxonomy has been published. The first reference date should be end 2018 but the first year may be considered as a preparatory period.

EBA update

2.6 “doubtful” assertions still not 100% addressed on EBA’s blacklist.

A hotfix 2.7.0.1 has been published by EBA.

ECB update

ECB is reviewing its DP taxonomy as an extension on the 2.7 taxonomy.

ESMA update

The ESMA taxonomy has not yet be published.

SRB Update

One participant stated that the date used in the context is the deadline date for the reporting, not the reference date (end of the period described). This is different from other reportings and should be confirmed.

Upcoming events.

 

XBRL Europe day in Copenhagen 01.02.2018

Eurofiling XBRL Week in May/June 2018

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Minutes October 25, 2017

EIOPA update

EIOPA will deliver a hotfix taxonomy which addresses ao. schema locations issues (yellow flagged in the known issues list, number 123).
There may be changes to assertions, like the issues with the ISIN and custom functions flagged as ‘to be investigated’.
EIOPA aims only address and fix taxonomy issues if the taxonomy remains instance compatible.
In this occasion and for future releases, EIOPA will check with XBRL.ORG about the usage of specifications in case of doubt.

The hotfix is expected between mid and end of November.

Progress on the Pension Funds: this will include the ECB part and the full version will be expected next year.
It’s a separate published taxonomy but following the same architecture and a common dictionary.

News from Eurofiling Taxonomy Team:

abs-sequence function was created to enable the absolute value of a sequence. The group is invited to look into the mechanics in the interval-arithmetics linkbase.

The group discusses the problems that may be caused by outdated eurofiling schemas and linkbases, shipped together with ESA taxonomy releases.

Eurofiling Taxonomy Team discourages this practise and has made a page available where all Eurofiling taxonomy files are downloadable from their canonical location.

Eurofiling TT will update all of its files with a version number.

EBA update

2.6 “doubtful” assertions still not 100% addressed on EBA’s blacklist.

2.7 posed issues with ao. assertions and some other functionalities. EBA addresses this in a hotfix release (version 2.7.0.1) which is circulating shortly.

2.8 discussion on the consideration of EBA to abandon explicit members for lists outside of its control (countries, currencies), and replace by typed members. The group discourages this approach and proposes to move these lists into the Eurofiling domain, where they can be maintained with a different release calender (ie: instantly).

Eurofiling Taxonomy Team will take appropriate action to discuss this possibility with the involved authorities.

ECB update

ECB is reviewing its DP taxonomy as an extension on the 2.7 taxonomy.

ESMA update

ESMA has conducted an informal working group which is investigating the results of the Field test in which a lot of countries/companies participated. The general feedback was very positive. Some doubts on the anchoring mechanism.
Final regulation (draft RTS) is expected to be ready at the end of the year, submitted to the EC by then. With the 3 + 3 months consultation from EP and EC it will be published at the end of Q2 2018.
Initiatives are popping up from the business side to prepare towards ESAF in various countries.
It’s not clear at this point at what time the ESMA taxonomy will be available, what/how it will link to external resources and how extensions are to be made.

SRB update

SRB is finalising its LDT taxonomy version 2.0.1 for filings in spring 2018.
includes warnings and the ignore-val mechanism

Upcoming events.

XBRL ‘Data Amplified’ in Paris 06-08.11.2017
+ related Group meetings and workshops
Nordic event in Danmark on 27.11.2017
XBRL EU day in Copenhagen 01.02.2018

 

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Minutes September 27, 2017

EBA update

2.6 doubtful update on validation rules
– a number of assertions are not working as expected. Some countries (LU, FR, NL, PT, DE,..?) decided to deactivate on their own initiative these assertions
– EBA has blacklisted a few of them in the last weeks
– the group has circulated last month for info the lists it has from various countries

2.7 are equally doubtful, being more and more tested now.
– Eg. v4776 is still problematic in 2.7
– blacklist update is likely to be expected from EBA

The NRA’s need to escalate the problematic assertions with the IT departement of EBA.
Expert Group on Data Quality meets next week, NRAs will make the necessary communication to the Group.
eg. v4776_m is listed as doubtful in 2.6 and has the same problem in 2.7

EBA has announced to collaborate with SRB on a new “resolution taxonomy”

SRB has made a Filing Rules update, referring to the EBA filing rules with a few remarks specific for Resolution filing.

Eurofiling will include a comment in its taxonomy files with “last updated on ..”

EIOPA update

a meeting took place last week, the issues were discussed (v137, ISIN checks, schema locations, eurofiling model.xsd schema, ..) and EIOPA is considering measures to remediate.

ESMA has published a consultation about its filing manual and the ESEF format.
http://eurofiling.info/portal/call-for-volunteers-field-test-european-single-electronic-format-esef/
ESMA will publish technical aspects before the end of the year.

SRB has published the EAC taxonomy version 3.0.1 for filings in January 2018.
The LDT taxonomy will probably follow in the course of November for expected filing in May 2018.

ECB update
ECB has published the 2.7 datapoints taxonomy.

ECB organised a BIRD meeting on September 25. The BIRD project continues with a non-formal commitment agenda to develop ao. the FINREP data sets. First quarter for next year is one of updating BIRD materials.

Feedback from the XBRL FR conference: was a success and presentations are online with XBRL FR site.

Upcoming events.
http://eurofiling.info/portal/events-autumnwinter-2017/
Eurofiling 24th Workshop dedicated to TODE
SDMX conference in Ethiopia
XBRL International conference ‘Data Amplified’

AOB
update of software vendor list – will be discussed in Madrid during the TODE conference

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Minutes August 30, 2017

EBA update

2.6 doubtful update on validation rules
– a number of assertions are not working as expected. Some countries (LU, FR, DE, PT, ..?) decided to deactivate or flag as doubtful on their own initiative these assertions. Feedback is awaited from the side of the EBA.
– the group will circulate for info the lists it has from various countries (FR, LU, NL, PT)

DNB plans to make formula linkbases for +/- 600 additional plausibility rules which can be added to the validation process by those who want to use them. These rules are inspired by the data quality group from ECB/EBA.

Probably this will be implemented in the course of 2018. DNB will use them in the feedback to the filers. Single instance validation, probably all of them are going to be warnings. Third parties will be happily invited to also test these rules.

Discussion on trailing and leading spaces: is this coverered or not by the XBRL or XML specifications? EBA is looking anyway at including this as should rule in the next version of its Filing Rules.

EIOPA update

2.2.0 is being tested and some schema locations seem to be missing. Flagged in Bugzilla.
Issues with LEI regular expressions, there seems to be a schema location error in the LEI taxonomy. Rule 137 may not be working as expected. The ISIN checks look partially broken. The eurofiling model.xsd schema included in the EIOPA taxonomy is not the last version. A hotfix taxonomy may be following?

ESMA update

ESMA has published a consultation about its filing manual and the ESEF format.
http://eurofiling.info/portal/call-for-volunteers-field-test-european-single-electronic-format-esef/

SRB update

SRB is in the course of finalising the EAC taxonomy version 3.0.0 for filings in January 2018.
The LDT taxonomy will probably follow after that for expected filing in May 2018. For a few banks with large instances, some assertions will likely need to be addressed in an alternative way because of a performance hit.

ECB update

Some countries will not use the Datapoints taxonomy but use the full instead, this is a possibility given by regulation.
ECB organises a BIRD meeting in September 25 for the future (include Finrep in Bird).

Upcoming events.

http://eurofiling.info/portal/events-autumnwinter-2017/
XBRL FR conférence annuelle
Eurofiling 24th Workshop dedicated to TODE
SDMX conference in Ethiopia
XBRL International conference ‘Data Amplified’

AOB

Eurofiling Foundation p.f. has been created by Notary.
Inquiry about alternative days/times to have the conf call?

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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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