Minutes February 28, 2018

EBA update

0- caveat: the “ patch” must also be applied on the 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, 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.

This entry was posted in Uncategorized. Bookmark the permalink.

Comments are closed.