Minutes November 26, 2015

1) EBA

The 2.4 taxonomy will not be used before end of May 2016
The group discusses the European implementations of CRDIV : each country has taken measures to deal with level 1 reporting.
Eg. Spain has an elaborated series of DPM based taxonomies.

Eurofiling has a page with the results of an EBA survey on http://www.eurofiling.info/corepTaxonomy/corep_taxonomy_in_europe.shtml


EIOPA is also going to start using a calendar such as EBA. For S2_2.0.1, the first remittance date is 20.05.2016.
EIOPA plans to have one corrective version per year and one adaptive version at the end of a year
We can expect the next release around Feb/March 2016

Technical issues with 2.0.1:
Julien has spotted problems with assertions linking to the balance sheet / assets: assertions with nilled typed dimensions have problems. Julien has communicated an alternative solution to EIOPA.
A quickfix could be that EIOPA alters the filing rule which states that you have to put ‘nil’ into ‘NA’, then the problem will not occur.
Julien also detected that validation performance degrades as soon as the number of facts increase, due to large numbers of xpath queries.

T4U is not yet able to work with the 2.0.1 taxonomy. EIOPA will probably release the tool next year, apparently for the last time.

Daniel asks about moderately/highly dimensional. From a data collection point of view, the taxonomy is moderately dimensional but has many dimensions. The taxonomy also holds a highly dimensional section for documentation purposes.

3) ECB

In September, EIOPA released ECB add-ons for reporting to insurance supervisors. Daniel asks if the alignment is also existing for the Banking Sector. The group discusses the fact that for the banking sector, with euro-zone and non-euro zone, the data collection domains are vast and more complex, and has different legacies which will probably take a while before getting harmonised (if ever).
Having said this, ECB has announced during the S2 conference in Paris that ECB considers harmonising nontheless some parts and that XBRL is being looked at.

ECB is doing additional checks (plausibility checks / non blocking rules) which are not officially available, not in any taxonomy nor any other official formal way. Some NCA’s in the Euro zone have shared an Excel overview with their filing institutions.

Next call is 28.01.2016 unless something new happens which urges a talk session.


 Merry Christmas and a happy new year !

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