Minutes September 25, 2019

EBA update

EBA 2.9

Corrective release 2.9.1 planned for November 2019 covering the COREP framework.

Hotfix release 2.9.1.1 planned for January 2020 containing new and improved validation rules.

Applicability dates:

FINREP9        06/2020

SBP RM         01/2020

SBP CR         12/2019

SBP IMV        09/2019

EBA 2.10

Expected to be released in 2 phases, similar to 2.9, in February and April of 2020.

EBA 3.0

Almost all frameworks will be updated in this release.

To be released in 2020, probably in Q3.

Call for participation

EBA will send a call for participation to the member states to work together on improving data collection and data modelling.

For improving data collection xBRL-CSV will be discussed.

ECB update

Not discussed.

EIOPA update

EIOPA is reviewing the current approach of the taxonomy, for instance the way the taxonomy schedule, the files structure and the way the validation is done. OIM-CSV is part of the review. This will lead to a consultation on the outcomes of that review in November and a Meet-the-Market in the fall of 2019 or early 2020.

Another legislative public consultation in 2019 will be held on the regulation regarding Pan European Pension Products.

The outcome of the tender on XBRL services will be made public in the coming weeks.

A potential technical issue has be found by a software vendor in the labels used for the new members that EIOPA has added to prepare for UK post Brexit. An email will be send to EIOPA with the details.

ESMA update

ESMA is waiting on EC’s translations of the labels which will be included in the taxonomy files for the 2019 ESEF taxonomy. Those are expected before the end of the year.

SRB update

SRF taxonomy version 5.1 is published on https://srb.europa.eu/en/content/2020-ex-ante-contributions in line with the new requirements, including also the Bulgarian language.

LDR taxonomy version 4.0 is expected to be published around the end of the month, based on EBA 2.9.0.1 RES framework.

Other topics raised.

Discussion on the role of and need for various open source initiatives.

One central question raised is how and if there will be a validation service organised by Europe to testify if ESEF declarations are valid or not against the XBRL standard.

At this moment there are no plans to centrally organise this, each OAM will need to address the topic.

European Commission is updating the rolling plan on standardisation of ICT.

Events

XII: Data Amplified in October in Shanghai

XBRL EU: event 14 November in London about ESEF

XBRL ES: event in Spanish at end of November about ESEF

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