No major updates in terms of taxonomies; draft RTS is still being considered for adoption by the EC.
After adoption new labels and translations will be published in the new taxonomy, together with conformance suites.
The EU council is considering to allowing member states to postpone the mandatory ESEF filing with one year. Each member state has to decide whether or not to use that ability. ESMA is not involved in this decision process. Voluntary adoption of ESEF by individual issuers alongside the original schedule is allowed and encouraged, nonetheless.
Comments on EBA
EBA is finalising the internal working draft version of the 3.0 taxonomy phase 1.
This first phase will be made available to NCA’s for review this week. It includes updated for the frameworks COREP, FINREP, AE and a new framework GSII.
Phase 2 (expected early December) will contain another new framework MREL/TLAC.
As of EBA 3.0 EBA will use a different architecture for the taxonomy: the severity level of assertions will be moved in a new location in the taxonomy so that this aspect can be maintained separately from the validation rules.
Version 3.1 is planned for February next year, it will be possible for NCAs (and their banks) to start using the XBRL-CSV file format from that taxonomy version.
No new developments at the moment. The ECB is awaiting EBA 3.0 before starting new works on the SFRDP taxonomy extension on that taxonomy.
EIOPA will publish an update of the 2.5.0 taxonomy on Monday 2 November 2020. It is a hotfix, replacing existing files, for a number of non-working validation rules.
The SRF taxonomy v6.0.2 has been published at https://srb.europa.eu/sites/srbsite/files/srf-eac_6.0.2_multilingual_complete_package.zip.
The portal will be opened for NRAs at the beginning of November. The reference date will be 2021-01-31.
The LDR Resolution taxonomy v5.0.7 has been published as an extension to EBA 2.10; production portal will be open in March for NRAs.
Eurofiling DPM seminar
October 22 2020, Eurofiling organised an online seminar on DPM which was extremely well attended. The presentations can be found at the Eurofiling website: https://2020.eurofiling.info/.
– the Data Amplified conference organised by XBRL International that was scheduled for November 2020 is postponed to spring next year.
– in December some European XBRL jurisdictions are organising ESEF information sessions in the same week. See https://www.xbrleurope.org/?p=3831 for more information.
Ignacio Santos has written an academic paper about DPM. This paper will be discussed at the conference of computer Science, Webist 2020 (http://www.webist.org/home.aspx), from November 3rd to 5th.
The paper is titled: Life Cycle of Software Development Design in European Structured Economic Reports.
If you want participate in the conference, you can send an e-mail to email@example.com
Next call: Wednesday November 25, 2020 via the normal phone facility (freeconference call) at 10:30 CET. See http://minutes.eurofiling.info/facility/ for details.