2020.06.24 minutes

Comments from ECB:
SFRDP v4.0.0 is published on the ECB website.
First reference date is 30 June 2020.
ECB will do its best to publish the next version of the taxonomy at an earlier moment in time.
Publication of this version was delayed by delays in the publication of the EU regulation on which it is based.

Comments from EIOPA:
EIOPA has published a draft taxonomy for the 2.5.0 release covering reporting by insurers and pension funds containing also the ECB add-ons.
Comments can be send to EIOPA until the end of this month.
First reference date for 2.5.0 is 31 December 2020.

Comments from ESMA:
Working on:
1. Draft RTS to make available the 2020 IFRS taxonomy for ESEF tagging published last week, to be adopted by the European Commission and by European Council / Parliament hopefully by end of this year. ESEF 2020 taxonomy is mandatory to be used for 2021 financial statements. Voluntary for earlier financial statements.
2. Draft ESEF XBRL taxonomy files based on the IFRS 2020 taxonomy including translated labels – translations provided by EC and publication by ESMA expected in Q3/Q4.
3. Update of the Conformance suite,
Publication expected in Q3 or early Q4
4. ESEF Reporting Manual update 2020 , notably for topics like anchoring of extension domain members and recommendations on naming conventions
Publication expected for July 2020.

GLEIF and ESMA collaborated on the 2019 GLEIF annual statement to serve as an example of ESEF report.

ESMA has taken note of the recommendations by the High Level Forum on capital markets union to the European Commission calling for an EU single access point for company’s public information.
ESMA stands ready to implement such an infrastructure, if so tasked and if adequately equipped with ad hoc funds, as it would enhance the value of those disclosures.

comments shared by SRB:
No changes to earlier statements on the taxonomies and submissions.
Summary of those earlier statements on taxonomies:
1. SRF-EAC taxonomy will be published in July of 2020.
2. SRB-ResRep taxonomy (based on EBA 2.10) will be published in September of 2020.

Comments from EBA:
EBA 2.10
Phase 1 is published in April ( frameworks FP, REM and PAY).
Phase 2 contains new versions for SBP, COVID19, RES and FP.
Funding Plans being a patch on the version included in 2.10 phase 1.
An internal working draft version is under review by NCA’s.
COVID might become an additional framework instead of a module in FINREP.
All row and column numbers in SBP will use 4 characters (e.g. 0010),
Publication of 2.10 phase 2 is expected for 10 July following reviews by EBA SCARA and the Board of Supervisors.

EBA will accept submissions on COVID19 in XBRL and Excel for the first reference date (2020-06-30), but only XBRL as from 2020-09-30 reference dates.
EBA will accept submissions on REMUNERATION for reference data 2019-12-31 in Excel and XBRL.
EBA 3.0
Publication expected for September 2020.

EBA is studying the improvement of the reporting format within its Task Force TFERF which is a collaboration between EBA, NCAs, European authorities and XBRL International.
Challenges faced by EBA are very large files (> 1 GB) and simplified file formats.
TFERF is looking into the suitability of xBRL-CSV. EBA is considering accepting submission using that format as of EBA 3.1.

Eurofiling is planning to organise events around blockchain in September and around Environmental, Social and Governance reporting in October of this year.
Data Amplified will be held in November of this year.

Next call
No call in July.
Next call on Wednesday 26 August at 10:30 AMS time (i.e. UTC +1) using the FreeConferenceCall.com facilities.

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