General note: below minutes are written by Eurofiling and are not official statements by the mentioned organisations.
EBA update
EBA taxonomy 4.0 was published before Christmas.
It uses taxonomy architecture version 2.0. Most notable change is the versioning of glossary parts like enumerations.
The files of the taxonomy were replaced with new ones at the beginning of January to fix some minor issues. The DPM files were updated in the 3rd week of January as well.
EBA mentions that the DPM 1.0 information is only provided as reference material and cannot be used to create XBRL reports.
EBA is now working on taxonomy version 4.1: it will contain updates to SBP, MICAR, Pillar3 and a new module Instant Payments.
A version 4.2 will provide changes to modules Resolution, COREP and MREL-TLAC.
An additional version might be necessary to update all remaining modules to the new glossary.
EIOPA update
Pension fund reporting remains on version 2.7 for now. Version 2.9.0 must be used from reference date Q1/2025.
Solvency (insurers) reporting is based on version 2.8.2.
A review is on its way. Level 1 changes are clear. One of the goals of the review is to reduce the number of templates. A public consultation will be held in the summer of 2025.
A new framework (IRDD) for Resolution Planning is drafted. A public consultation will be held, also in the summer of 2025.
The decision on the first reference date is not yet made.
Although the timeline for implementation is not confirmed, EIOPA will apply the xBRL-CSV format similar to DORA, with multiple facts per row, which is table-oriented, along with business codes for concept identification. This approach aligns closely with the xBRL-CSV reporting framework for DORA, as utilized in the joint project of the three European Supervisory Authorities (ESAs).
SRB update
No news on framework updates.
SRB is studying the different option to structure the xBRL-CSV reports ( datapoint or table oriented).
ESMA update
No update from ESMA.
Questions were raised about the alignment of the conformance suite and regulation.
A call was made to investigate these documents and send questions to ESMA: this is the one change to improve them.
XBRL International update
The selection of developments deemed most relevant to the group was shared, meaning many other things are going on as well.
- Calculations 1.1 addresses weaknesses in Calculations 1.0 like rounding and duplicate evaluations. Relevant for inline XBRL.
The IFRS 2024 uses Calculations 1.1. It is also mentioned in the 2024 ESEF filing manual.
Calculations 1.1 - Table Constraints is an extension to xBRL-CSV that aims to support very efficient structural checks.
Currently at PWD status: xBRL-CSV Table Constraints 1.0. - Digital Signatures defines a standard approach to applying digital signatures to XBRL and inline XBRL reports.
Currently at CR: Digital Signatures in XBRL 1.0
Special topic EC DG FISMA
EC DG FISMA has created an informal coordination body (Supervisory Reporting Roundtable) to discuss the views on common data dictionary in EU financial services.
Ongoing initiatives are the JBRC, ECB/BIRD, ECB IReF, EBA-EIOPA-ECB DPM Alliance and ESMA DATAD pilot.
The focus is on the Business Concept, as top layer of abstraction in the reporting process chain.
Legislation will be published this year to give mandate to the Joint Committee to elaborate the roadmap.
Information will be shared about the stock taking exercise and the SRT note, which intends to harmonize terminology so that we speak the same language when it comes to the common data dictionary.
Special topic Sustainability
ESMA is running a public consultation (as mentioned as well in the ESMA update).
Events
The next conference is ‘Digital Reporting in Europe’, jointly organised by Eurofiling Foundation and XBRL EU, will take place at the European Central Bank in Frankfurt on 3 to 5 June 2025.
Space is limited to 180 people. More information on Digital Reporting in Europe, 3-5 June 2025, Frankfurt.
Suggestions for speakers or presentations are welcome.