ECB update.
No particular update. The SFRDP taxonomy was published in June and is being used. ECB has intentions to publish the SFRDP extension to the EBA 3.0 taxonomy faster in comparison to this year, to enable more preparation time to the stakeholders.
There is no extension planned to the EBA COVID19 taxonomy.
EBA update.
EBA is elaboration the 3.0 taxonomy; to be published in 2 phases :
1) COREP, FINREP, AE, GSII
2) MREL/TLAC
New taxonomy architecture is deployed to store severity in a separate folder (set) in the taxonomy as from that moment on.
3.1 taxonomy is expected after 2021-02, which includes new reporting frameworks such as Investment Firms, but also changes to SBP and Resolution.
EBA has decided to allow as from 3.1 the OIM xBRL-CSV format as a result of the Task Force on Evolving the Reporting Format. This new format complies with the requirements to modernise the supervisory reporting format.
EBA will present the conclusions during the next online Eurofiling day.
EBA is working on the DPM refit project with EIOPA.
EIOPA update.
EIOPA is working on the DPM refit project with EBA.
EIOPA confirms that will issue a taxonomy hotfix on 1 November 2020 for the 2.5.0 Solvency 2 and Pension Funds. The hotfix as in previous years will only correct the non-working validations, without any further change.
EIOPA will publish an update today of the public list of validations indicating as “under investigation” the assertions which are identified as to be corrected in the 1 November hotfix. EIOPA calls for the interested stakeholders and users to submit any useful feedback related the 2.5.0 taxonomy and validations before the 15 October in order to be in time to address them in the 1 November hotfix.
SRB update.
SRF taxonomy is published and the portal will be opened on October 1st for testing, November 1st for production.
RES taxonomy 5.0.7 will be published today as an extension on EBA 2.10, with updates on validation rules.
The data are expected at the end of March for LDR, all the rest for end of April.
ESMA update.
There is no significant update from ESMA on taxonomies compared to the last meeting: ESMA is waiting to hear back from the Commission on endorsement of the draft RTS and for the translations of the labels, after which ESMA will publish the 2020 taxonomy files.
Upcoming events.
– Implementing ESEF: Opportunities, challenges & way forward. Accountancy Europe. October 12.
– Eurofiling DPM event, October 22 15:00-17:00 CET with various speakers (see 2020.eurofiling.info). Registration open here. Data Point Modelling was created as a CEN standard in format of a CWA and is widely used across Europe in Supervisory Reporting, moving to an ISO standard is in preparation.
AOB.
XBRL Spain is working on an user-friedly XBRL viewer for financial information of Banks now published by the Bank of Spain also in XBRL format.
The instructions to join eurofiling@googlegroups.com (distributiom list with 400+ subscriptors) are available at http://minutes.eurofiling.info/facility