General note: below minutes are written by Eurofiling and are not official statements by the mentioned organisations.
XBRL International update
XBRL International is working on many things:
- Improvements to Taxonomy Packages (dependencies) and Report Packages (better support for digital signatures).
- Table Constraints has gotten a second PWD (link). A conformance suite is undergoing review.
- Main development is OIM Taxonomies: a major reworking of the current specification.
Goal is to make XBRL easier to use and easier to build software for by simplifying and modernising the standard.
Changes that are part of OIM Taxonomies: removing complex technology (e.g. XLink) and integrating essentials components (e.g. dimensions) that are currently separated.
As with OIM Reports, a split is made between the functionality and the implementation in a specific language. JSON will be used for now, other languages may follow if useful.
The group is working towards a PWD to be released soon.
Volunteers are always welcome!
EBA update
EBA announced that a PWD of taxonomy release 4.1 is published on the website (Reporting framework 4.1 | European Banking Authority).
This release is created using DPM Studio and follows taxonomy architecture v2.0.
It contains updates to frameworks Pillar3, Instant Payments, ESG and MiCAR.
Next is release 4.2 of the taxonomy. This release will bring updates to some frameworks and all modules that are still using taxonomy architecture 1.0 to 2.0.
A public working draft is expected in August 2025.
EBA expressed strong interest the new Table Constraints specification and is considering using it for the 4.2 release.
Market participants are interested to know if EBA will enable Third Party testing for Pillar 3 Data Hub reports. This will be clarified in a next opportunity.
SRB update
SRB is working with EBA on the Resolution framework that will be part of release 4.2 of the EBA taxonomy. All validation rules are reviewed.
A new release of the SRF taxonomy will be published by end of July. No changes to reportable facts are expected, validation rules are reviewed.
This taxonomy is based on EBA release 3.5 and uses the same taxonomy architecture (i.e. v1.0).
EIOPA update
EIOPA is finalising the PWDs for the hotfixes of all the frameworks (Solvency II, Pension Funds, PEPP Prudential, FICOD) for adapting to the NACE 2.1 codes.
Expected publication by the end of May. EIOPA will trigger the RSS feed once they are published.
What is important is that they are “optional” hotfixes, backward compatible, so those that can continue to report NACE 2.0 codes, do not need to implement them. Only those who need to report using NACE 2.1 codes.
EIOPA and NCAs will implement the hotfix version, its use is optional for the reporting institutions.
(Updated 1 June 2025: The hotfix can be found at Supervisory reporting – DPM and XBRL – EIOPA.)
ESMA update
No update
ESG update
ESMA has released a VSME Digital Template, XBRL Taxonomy & Converter to aid SME’s in voluntary reporting of sustainability data.
More information on VSME Digital Template and XBRL Taxonomy | EFRAG.
Events update
The 2025 conference will take place at the ECB premises from 3 to 5 June. More than 200 people have confirmed attendance for one or more of the days.
Agenda is available on 2025.eurofiling.info.
Recording and broadcasting the sessions is intended, not guaranteed.