General note: below minutes are written by Eurofiling and are not official statements by the mentioned organisations.
Special topic Pillar3 and vLEI
Pillar3 brings a new phase for the EBA as it will receive reports directly from institutions, where for other modules the reports are collected by NCA’s and forwarded to the EBA.
EBA will use the verifiable LEI structure to identify and authenticate the party providing these Pillar3 reports.
The vLEI works with wallets installed in the browser allowing verification of the organisation, the person providing the report and the role they have within the organisation.
A pilot is underway in which 13 banks submit Pillar3 reports to the EBA.
The pilot has already proven that the technology works.
More vLEI issuers (called QVI’s) are needed. Wider acceptance (more regulators using it) would be useful as well to encourage more parties becoming a QVI.
Special topic Eurofiling Taxonomy Package v2.1
A Public Working Draft 2.1 has been shared via the Eurofiling Google group for testing and feedback earlier this month. The roles to define a compound item have been moved to the generic linkbase. It will be published on the Eurofiling website at the end of November 2024.
⚠️ Please update your systems with the new package TP-Eurofiling2.1.zip as soon as it’s published.
More information: Eurofiling Taxonomy Architecture – Eurofiling for more information on these files supporting DPM-style taxonomies.
Special topic Sustainability
No relevant updates since previous conference call.
EBA update
EBA has received many responses to the in October published Public Working Draft of the EBA taxonomy v4.0 which it is now reviewing and incorporating in the final version. EBA thanks the parties providing the feedback: very useful. The final version will be published before 20 December 2024 and will contain 5 modules: MiCAR ITS, COREP-OF, COREP-LR, DORA and IF class 2. This taxonomy is based on the new Eurofiling Taxonomy Architecture (v2.0).
The DORA module will contain constraints as defined in the xBRL-CSV Table Constraints 1.0 as it allows the definition (and validation once implemented in certified software) of the referential constraints described in the DORA regulation.
The dictionary underpinning these modules is updated following the DPM Quality Review and is henceforth called "the glossary" after the initiative taken by DG FISMA to harmonise terminology between the European Supervisory Authorities.
Further updates to the glossary and frameworks are coming in EBA taxonomies v4.1 and v4.2.
Please note that the glossary and all frameworks in the DPM database is updated for DPM Quality Review, not just the modules released in EBA taxonomy v4.0.
EBA taxonomy v4.1 is expected to contain 4 modules: Pillar3, MiCA Guidelines (new), SBP MR-RM and Instant Payment (new) and be published in Q2 of 2025.
EBA taxonomy v4.2 is expected to contain all modules to reflect the new glossary. ITS changes are expected for Resolution Planning (see SRB). Changes to other modules are under discussion at EBA.
This version is expected to be published in Q3 of 2025 and will apply from reference date 31-12-2025.
This means that as from reference date 31.12.2025, all modules will be based on the new Eurofiling Taxonomy Architecture v2.0 and make use of the new glossary.
EIOPA update
A corrective release for SolvencyII 2.8.2 was published recently to fix two trivial errors:
- Correcting the codes-check.xml file which is empty but was incorrectly written
- Fixing an omnipresent typo in the top section of each file: <?officialURI http://eiopa.europa.eu//eu/xbrl… ?>
All files were rewritten but nothing else was changed. This version must be used for reference data 31-12-2024.
EIOPA has published a separate glossary containing all elements used. It can be found under Addition Resources in the website Supervisory reporting – DPM and XBRL – EIOPA.
The pension fund taxonomy (IORP) is unchanged. Version 2.7.1 must be used for reporting with reference date 31-12-2024.
The submission deadlines for 2025 has been updated to correct an error.
EIOPA is working on a new taxonomy implementing the Insurance Recovery and Resolution Directive (IRRD). A draft DPM and XBRL taxonomy is expected in the summer of 2025.
SRB update
SRB is continuing their assessment and testing of the xBRL-CSV reporting format and they initiated discussions with the EBA regarding the technical package of the new Resolution framework from ref. date 31/12/2025 that will be part of the EBA 4.2.
ESMA update
No major developments to report at ESMA. Works are ongoing with the conformance suite and with the integration of sustainability taxonomies.
ECB update
not discussed at the call .
No updates to report since the previous call.
XBRL International update
Not discussed during the call.
Update will be given at the next call in January 2025.
Events
XBRL Finland annual conference on 3 December 2024 Electronic financial statements and sustainability reporting.
XBRL France annual conference on 9 December 2024 Reportings digitalisés en 2025 : ESEF-CRSD, IREF…
Digital Reporting in Europe, Eurofiling and XBRL EU joint conference, 3 – 5 June 2025: Digital Reporting in Europe, 3-5 June 2025, Frankfurt.
Next meeting
29 January 2025 at 10:30 – 11:30 (Paris time), usual timeslot.