Comments from EBA:
- 188.8.131.52 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.
Comments from ECB:
- ECB is testing SFRDP 4.0.0 taxonomy based on the latest changes made by the EBA in DPM 184.108.40.206.
- 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.
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.
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.
- IFRS has published its 2020 taxonomy.
More info: https://www.ifrs.org/news-and-events/2020/03/ifrs-foundation-publishes-ifrs-taxonomy-2020-and-ifrs-taxonomy-formula-linkbase-2020/
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.
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/
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.