Eurofiling minutes

General note: below minutes are written by Eurofiling and are not official statements by the mentioned organisations.

EBA update

EBA is working on release 3.3.phase1 which it plans to publish in May.

ECB update

No developments to discuss. As previously mentioned there will not be a release of the SFRDP taxonomy as there are no changes in FINREP.

SRB update

The SRB is preparing the SRF 2024 collection. As every year, the taxonomy will be shared by the end of July 2023 for a collection starting in Nov 2023.

The SRB will do an extension on top of EBA3.3 for Resolution Reporting. The taxonomy will be ready (as each year) by the end of Sep 2023. The collection will start on 1 March 2024.

EIOPA update

Technical difficulties prohibited EIOPA from attending.

They have sent the following information to include in the minutes:

• As EIOPA started to use a commercial tool for taxonomy production and it affected the output files, EIOPA organised first an information session for NCA experts after the publication of the Internal Working Draft of 2.8.0 on 26 January 2023 and held a Taxonomy-meets-the-market public event on 8 February 2023 where the differences in the output files were presented (over 600 registered participants including NCA experts). We received very useful feedback that we are now incorporating in the final release of the 2.8.0 taxonomy.
• EIOPA published a communication file about the upcoming technical and business changes up until 2026 on its dedicated webpage for Supervisory reporting – DPM and XBRL to allow the market to anticipate and to adapt to these changes. We are explaining in the document what business and technical changes we are introducing, what consequences this will have and when they will be introduced. The foreseen changes in a nutshell are:
  • The use of a commercial tool for taxonomy production
  • the DPM Refit and DPM Studio initiatives that we are working on together with EBA. The latter will replace the commercial tool in due course.

• Currently we work on the following releases:
  • Publication of 7.1 release is necessary to include the reflection of Croatia entering the Eurozone and should be used as of reference date 01/06/2023.
  • 8.0 release only for Insurance: it includes the ITS amendment due the SII Review. Final release will be published on 17 March 2023 and the 2.8.0 Hotfix, if needed, latest in July 2023. (Application date end of 2023)
  • 8.1: FICOD shall be treated as a completely separate framework (same as S2, PF, PEPP PR, PEPP KID) and will be published as a standalone package in July 2023. (Application date: end of 2023)
  • 9.0: Revised Decision on IORPs Reporting. Final version will be published in July 2023 (Application date: January 2025)

ESMA update

ESMA is planning the integration of the soon (March?) to be released IFRS 2023 taxonomy in the ESEF taxonomy.

ESMA is also looking at the integration of the European Sustainability Reporting Standards.

More information will follow.

Events

• XBRL Europe conference in Rome, Italy on 22 and 23 May 2023.
• 28^th Eurofiling Workshop in Frankfurt, Germany hosted by the European Central Bank on 13 and 14 June 2023
• XBRL Int. Data Amplified in Zurich Switzerland on 16 and 17 October 2023.

See the Eurofiling website for up to date information.

Other topics

EFRAG is developing a taxonomy for ESG data with the help of an external party. A public consultation release is expected for April of 2023 as stated in the original tender document.

The taxonomy will be developed in a such a way that extensions are not required for reports based upon it. This means that typed dimensions will be employed.

General note: below minutes are written by Eurofiling and are not official statements by the mentioned organisations.

ECB update

ECB expects not to publish an update to the SFRDP taxonomy in 2023 because there are no changes expected for the EBA FINREP taxonomy which the basis for the SFRDP taxonomy.

SRB update

SRF: SRF 8.0.2 was published in July . Recently a hotfix was published rectifying some labels used in rendering. Data collection is ongoing.

The next SRF taxonomy will be published in July of 2023 for the cycle of 2024.

ResRep: The taxonomy was published in September, being an extension of EBA 3.2.

On collection: the portal will be opened in March.

The next taxonomy will be based on EBA 3.3. Once available, SRB will study the need for a taxonomy extension. The taxonomy is expected to be published in September 2023 for the cycle of 2024.

ESMA update

Taxonomy and conformance suite was published, and the adoption of the amendment was finalized in December 2022, so the taxonomy and conformance suite for the 2022 reporting can be officially used.

For 2023, taxonomy works are ongoing. SFTR taxonomy based on EFRAG taxonomy and amendments following IFRS 2023 are in the pipeline. The first experiences with block tagging will be analysed and might lead to improvements in the taxonomy.

EIOPA update

An update of deactivations of validation rules was recently published.

EIOPA is finalizing the 2.8 release of the taxonomy. A new public working draft, in which the validation rules are added, will be published at the end of January or beginning of February.

The official release of 2.8 is expected for March of 2023 and a hotfix (if needed) in July of this year.

On pensions: changes to the reporting package are under discussion – this will be part of taxonomy 2.9.0. This taxonomy will be gradually released, the go-live dates are yet to be confirmed.

EIOPA organizes a “meet the market event” to clarify the content of the new taxonomy, the revised output files, and a view on the validations. The session will end with a presentation on future developments.

EBA update

A discussion took place on the structure used by EBA for xBRL-CSV reporting. The xBRL-CSV metadata that accompanies the taxonomy contains information. If reporting needs to be done in xBRL-CSV, then XBRL report creation software needs to be adapted.

EBA is working on a new taxonomy architecture that implements DPM Refit. Feedback is being asked from NCAs, a public consultation will follow thereafter.
On taxonomies: EBA release 3.3 will consist of 2 phases. Phase 1 will be published in May, a.o. containing frameworks are included: IPU, Pillar 3, MREL-TLAC. Phase 2 is expected to contain a new version of the SBP framework

Other topics

EFRAG is working on a taxonomy for sustainability reporting, based on ESRS regulation. This standard will be applicable to more than 50.000 companies in Europe.

This taxonomy will be using typed dimensions to avoid requiring reporters to create an extension.

Events update

8 February 2023: EIOPA organizes an online Meet the market event. More information on https://www.eiopa.europa.eu/media/event/workshop-taxonomy-meets-market

13 & 14 June 2023: 28th Eurofiling Workshop is organized Face-to-Face at the premises of the European Central Bank in Frankfurt

16 & 17 October 2023: Data Amplified conference of XBRL International, organized in Zurich

General note: below minutes are written by Eurofiling and are not official statements by the mentioned organisations.

EBA update

No news.

SRB update

Please note that SRB was not discussed during the call. The following remarks are from the email sent by SRB directly after the call.

SRF_8.0.2 taxonomy hotfix published on SRB public website on 3rd Nov 2022: https://www.srb.europa.eu/en/content/2023-srf-levies-ex-ante-contributions

It contains an update version of the taxonomy version 8.0.2, a taxonomy package for a complete set of taxonomies used from 2016 onwards, SRF filing rules document, SRF validation rules document and an example of a report that complies to all validation rules.

There is also a DPM Access database provided to NRA’s. Please note that the SRB does not provide support on this DPM and that in case of discrepancy, the taxonomy package is the single source of truth.

RES_7.0.2 taxonomy published on SRB public website on 26th Sep 2022: www.srb.europa.eu/en/content/2023-resolution-reporting, being an extension of the EBA 3.2 taxonomy.

It contains a taxonomy package for the 7.0.2 version (for 2023 cycle), ResRep filing rules document, ResRep validation rules document and an example of a report that complies to all validation rules.

EIOPA update

A hotfix to the Solvency II taxonomy 2.7 is foreseen by the end of next week, only validations are impacted.

ECB update

No update from ECB: SFRDP taxonomy 5.1 has been published as extension of the EBA 3.2 FINREP taxonomy.

The topic of treatment of precision in the ECB EGDQ rules was discussed.

ESMA update

ESMA is updating the taxonomy and conformance suite. The target date for finishing the work is the end of December 2022.

Events update

Eurofiling 27th Workshop will be hosted by the Banco de España and Business Registers on December 13 & 14. The agenda focuses on DPM Refit, ESEF and ESG reporting. There is also a special session for regulators.

For more information visit https://2022.eurofiling.info/.

Please be aware that registration for physical attendance has closed, registration for virtual attendance is still open.

Other events:

7 December – XBRL Int. – online – Data Amplified

9 December – XBRL Int. – online – Members Day

Next call is on 25 January 2023.

Merry Christmas and a happy new year!

General note: below minutes are written by Eurofiling and are not official statements by the mentioned organisations.

EBA update

Phase 3 of 3.2 was published.

Next release 3.3 is from now on in preparation.

SRB update

The SRF8.0.2 published in July 2022 will be slightly amended to correct some labels.

XBRL instance created with the July taxonomy will therefore still be valid, but to show the correct rendering the hotfix would be needed.

The hotfix will be published early November 2022 and will correct the rendering (i.e. right label).

Same schema, same taxonomy version, same datapoint, only label changes.

EIOPA update

A hotfix to the Solvency II taxonomy 2.7 is foreseen by the end of next week, only validations are impacted.

ECB update

SFRDP taxonomy 5.1 has been published as extension of the EBA 3.2 FINREP taxonomy, alongside additional documentation.

ESMA update

No update

Events update

/!\ Face-to-face upcoming event, see site:  https://2022.eurofiling.info/

Eurofiling 27th Workshop will be hosted by the Banco de España and Business Registers on December 13 & 14.

• The program for Tuesday 13 focuses on DPM Refit
• The program for Wednesday 14 targets ESEF, ESG and XBRL.
• There will also be a track open to regulators only on Monday 12.
• Networking dinner is foreseen on Tuesdat 13 in the evening
• For more information visit https://2022.eurofiling.info/
• To register go to https://eurofiling.typeform.com/to/L6UMyQcK

Please be aware that registration closes on December 2^nd COB !

Other events

8 November – FRC UK – online – Structured digital reporting, improving quality and usability

15 November – XBRL EU – online – Block tagging and the way forward

7 December – XBRL Int. – online – Data Amplified

9 December – XBRL Int. – online – Members Day

General note: below minutes are written by Eurofiling and are not official statements by the mentioned organisations.

EIOPA update

EIOPA will have a hotfix in November on the 2.7.0 release. This will mainly focus on validations. Currently we only have a small set of corrections but we are still receiving feedback.

By the end of January they plan to publish the 2.8.0 version including the validations. Based on the feedback received so far, some technical amendments will be made to the taxonomy (e.g. renaming of templates S.36.03 and .04). Other feedback received that cannot be address will need to be included in the list of known issues and solved in the 2.9.0 update.

SRB update

The portal for SRF-reporting will open in November and close at the end of January 2023.

The Resolution taxonomy was published on September 27^th, being an extension of the EBA 3.2 taxonomy.

The extension covers SRB entrypoints (LDR, CFR, FMIR and CIR) and improvements to the validation rules.

The Filing Rules document has also been updated for this reporting cycle.

The taxonomy, sample instances, the Filing Rules manual and an Excel document listing and explaining the changes to the validation rules can be retrieved from the SRB website https://www.srb.europa.eu/en/content/2023-resolution-reporting.

EBA update

EBA expects to publish 3.2.phase3 on Friday 30 September 2022.

It contains a new version of the framework renumeration. This new version contains new modules to collect data on gender pay gap and high ratios between variable and fixed renumeration.

This release also contains fixes for errors found in the validation rules of the COREP and FINREP frameworks.

Also, the metadata provided for xBRL-CSV reporting has been updated.

EBA is working on a new architecture for the XBRL taxonomies provided in order to (1) simply the structure and (2) implement the new capabilities coming from DPM Refit.

ECB update

ECB will publish SFRDP taxonomy version 5.1 soon (end of September or early October), as an extension of EBA 3.2 FINREP.

Testing at the ECB is done, the taxonomy is shared with the NCA’s for testing as well, no issues are reported.

Following EBA this taxonomy will not contain different entrypoints for different consolidation levels or accounting systems.

ESMA update

No update.

Events

Eurofiling is planning a 2-day conference in Madrid for Tuesday 13 and Wednesday 14 December.

The agenda for Tuesday 13 is finalized, filled with DPM Refit topics, including hands-on sessions on report and validation rules modelling.

The agenda for Wednesday 14 will contain mainly ESEF related topics, more info to follow asap.

On Thursday 15 December the Spanish Business Registries organizes a session on ESEF in Spanish.

See https://2022.eurofiling.info/

General note: below minutes are written by Eurofiling and are not official statements by the mentioned organisations.

EIOPA update

EIOPA published versions 2.7.0 and 2.8.0 in July. Version 2.8.0 doesn’t have validation rules, these will be added in Q1 of 2023.

For Pensions, no significant changes are expected for 2.8.0 -any such changes will then be made in release 2.9.0.

EIOPA is currently reviewing the comments received during the public consultation period that ended in June this year.

EBA update

EBA has produced 3.2.phase3 IWD1 (only remuneration updates) for xBRL subgroup review until 1 September, the final package will be published at the end of September.

ECB update

ECB has created SFRDP taxonomy version 5.1 as an extension of EBA 3.2 FINREP.

Following EBA this taxonomy will not contain different entrypoints for different consolidation levels or accounting systems.

The draft version will be shared with NCAs soon for testing. The final version is expected to be published at the end of the month September.

SRB update

The SRF taxonomy to be used for the 2023 cycle (version 8.0.2) is published in July. A taxonomy package containing all versions of the SRF taxonomy is provided as well.

The ResRep taxonomy is currently being developed, as an extension of the EBA 3.2 taxonomy. It will use the same datapoints as the EBA taxonomy; only modules and validations are added.

Just like ECB, SRB follows the approach of the EBA and won’t include the consolidation level in the entrypoint.

ESMA update

Draft ESEF RTS and taxonomy was adopted and published in June. In August, ESMA updated the ESEF reporting manual to provide guidance, among others, about marking up the notes to the IFRS consolidated financial statements using the block-tagging approach.

The manual contains a new section providing guidance to market participants on ESMA’s expectations on how to perform such block-tagging – for example, what elements from the taxonomy are to be used, what level of granularity on tagging the information is expected etc.

https://www.esma.europa.eu/press-news/esma-news/esma-updates-european-single-electronic-format-reporting-manual

Questions or comments can be raised to esef@esma.europa.eu

The group discusses in the call various aspects (eg. because of a limitation of the XML model); some aspects need to be addressed by XBRL International.

Events

Eurofiling 27th Workshop will be hosted by the Banco de Espana and Business Registers on November 2 (afternoon), 3 (whole day) and 4 (morning).

The organisation committee is being composed and more specifically, the agenda needs work. Main themes will be ESEF, DPM Refit, ESG, etc.

See https://2022.eurofiling.info/

XII is preparing the Data Amplified conference, planned for December.

General note: below minutes are written by Eurofiling and are not official statements by the mentioned organisations.

EBA update

Taxonomy 3.2:

Taxonomy 3.2 phase 2 was published beginning of June.

Taxonomy 3.2 phase 3 is being prepared; it will contain 4 modules on Remuneration: new modules for payment ratios are added.

The reporting population is extended to the Investment Firms.

The current plan is to publish the taxonomy in September, an internal working draft is expected to be circulated to NCA’s for testing by the end of July.

Entity types

Following the removal of the consolidation level from the entry point, the EBA is extending the current types of entity types (individual, consolidated and liquidity sub group) to include types for data aggregated to the country or regulator level.

The codes to be used will be defined in a new version of the EBA Filing Rules (5.2) which will be published soon.

The impact on reporting institutions is expected to minimal.

EIOPA update

EIOPA is processing the feedback received on the public working drafts for the 2.7 and 2.8 taxonomies.

Publication of the final version of the 2.7 taxonomy is expected to take place around 15 July. Version 2.8 without validation rules will follow at the end of July and the final version of 2.8 that includes validation rules will be publicly available in January of 2023.

SRB update

SRF taxonomy: internal tests are completed. Publication of the taxonomy (v8.x) is expected in July.

LDR taxonomy: ResRep v7.x will be built as an extension of EBA 3.2 and is expected to be published in September.

It will contain 4 entry points. SRB will use the same entity identification as foreseen by EBA but with a few additional possibilities because SRB has more types. (e.g. individual, individual other, consolidated, CON.POE)

One table will be extended to disallow a handful of datapoints which are open for reporting in the EBA RESOL framework.

ECB update

ECB is progressing with the SFRDP version 5.1 as an extension of the EBA FINREP taxonomy as usual. The new EBA approach on entity identification is also applied. The publication is expected for end of September.

ESMA update

ESMA is working on updating the ESEF reporting manual. in particular, as explained during the XBRL conference, we are working on providing guidance on block tagging the notes.

Events

The Eurofilling online event on DPM Refit held on June 22th was a big success: 218 people attended. All presentations and video recordings are available on 2022.eurofiling.info

The OpenFiling assembly following the DPM Refit session was also successful. An eurofiling.wiki is created for best practises and topics of interest.

A face-2-face Eurofiling conference is being planned for after the summer, very likely end of October or November. The formalities are being started.

XBRL Netherlands organises an online event on 30/06 on who does what in the XBRL community; more information can be found in the XBRL newsletter or on Eurofiling website.

Any other business

There is no call in July, next call is at the last Wednesday in August.

Note: below minutes are written by Eurofiling and are not official statements by the mentioned organisations.

ESMA update

Following the update of the IFRS taxonomy on 24 March, ESMA is currently working on amending the ESEF RTS to be published asap and submit it to the European Commission to launch the EU approval process.

EBA update

EBA 3.2.p2 is expected to be published on or around June 3^rd.

This release contains many frameworks as they needed to be updated to implement the removal of the consolidation level from the entrypoint.
The number of content changes is limited.

EBA 3.2 phase 3 will contain a significantly modified version of the Renumeration framework to accommodate reporting by investment firms as well.

More details on the identification of the reporting institution will be provided at the next call in June.

During the Eurofiling meeting on June 22, EBA will present the new taxonomy architecture in view of the DPM Refit approach.

One of the changes will be a technique to version hierarchies and enumerations.

EBA 3.2 contains a new “non-empty string” type; this type will be imposed from 30.06.2022 with the first IF reporting. As is part of dictionary, this restriction is placed also on submissions for other frameworks and on all resubmissions.

ECB update

ECB is working on a new version of SFRDP begin an extension of the EBA FINREP taxonomy as usual. More info on the publication timeline in the next call.

EIOPA update

EIOPA is expected to publish the public working draft for 2.7.0 which includes Solvency 2, IORP and PEPP at the beginning of June.

Around the same time, the second public working draft nr.2 for 2.8 is also expected, which includes elements stemming from the big review of Solvency II. This version will not include changes for IORP or PEPP, because they are covered by the 2.7 taxonomy.

SRB update

Regarding preparation for SRF 2023: taxonomy v8.x will be published in the course of July. ResRep v7.x will be built as an extension of EBA 3.2 expected to be published in September.

Events

June 7: XBRL Switzerland: session on mandatory climate reporting

June 13 – 14: 30^th XBRL Europe conference in Paris

June 22: EBA/EIOPA/Eurofiling webinar on the Data Point Model methodology and its evolution to the DPM Refit.

More info on next events are mentioned on the https://eurofiling.info/portal/events/.

A hands-on Eurofiling conference is being planned for after the summer

Note: below minutes are written by Eurofiling and are not official statements by the participants or their organisations.

EBA update
Taxonomy 3.2 phase 2 IWD1 has been distributed internally for review. Some minor comments have been reported.
According to the current plan, the BoS will receive the package for approval on 21.05.
Publication of the taxonomy 3.2 phase 2 is expected around June 10.
EBA 3.2 phase 3 will be published in September with only the REM framework.

ECB update
no update at this moment

EIOPA update
The consultation on IOPS reporting has been launched, the period lasts for 12 weeks until July 18.
Other consultations are running on the Solvency 2 package. In June, the second working drafts on 2.7 and 2.8 are expected to be published.
The taxonomy-meets-the-market webinar on April 6 received very positive feedback.

ESMA update
no update at this moment

SRB update
Regarding preparation for SRF 2023: taxonomy v8.x will be published in the course of July. ResRep v7.x will be built as an extension of EBA 3.2 , expected to be published in September.

AOB
Next events are mentioned on the https://eurofiling.info/portal/events/
The Eurofiling CEN described DPM was raised to the standard ISO 5116
Sustainability taxonomy of SASB (Sustainability Accounting Standards Board)

EBA update

Release 3.2.phase 1 is published on 10 March 2022.

Also published on 10 March is small validation rules package. This taxonomy package updates the severity class (ERROR or WARNING) for a limited number of validation rules.

For this information EBA uses a special page on the website: Small validation rules packages | European Banking Authority (europa.eu).

EBA is currently working on 3.2.phase 2. It contains content updates for SBP, RES and FP frameworks. It also contains new modules for frameworks FINREP, COVID19, MREL, Notification and PAY without references to consolidation level (con/ind) and accounting system (ifrs/gaap) in the entrypoint.  An internal working draft version is planned to be shared with NCA’s for testing towards the end of April. Publication is planned for early June.

After 3.2.phase2 EBA will start work on phase3 which will contain an update for framework Renumeration. Publication is planned for September.

EBA is also working on the DPM Refit project, which will have an impact on the Eurofiling Taxonomy Architecture.

EIOPA update

At the end of February the first working draft of release 2.7.0 was published containing the reporting requirements for Solvency II, IORP and PEPP.

On June 1^st a second working draft of release 2.7.0 is expected that will contain update to the reporting requirements and the validation rules.

In the beginning of April a first working draft of release 2.8.0 will be published, that reflects the big review of the reporting requirements.

A second working draft of 2.8.0 containing improvements to the structure is planned for the end of July or early August.

A third release scheduled for early 2023 will contain the validation rules for 2.8.0.

EIOPA will organise a taxonomy-meets-the-market webinar on April 6, register via the following link: https://www.eiopa.europa.eu/content/event-registration-form_en

ECB update

No developments compared to what was stated last month.

SRB update

Regarding preparation for SRF 2023: taxonomy v8.x will be published in the course of July. No big changes expected.

ResRep v7.x will be built as an extension of 3.2, with 4 modules (LDT, CFR, CIR and FMI) which is expected to be published in September.

People interested in the slides used at the last SRB ICT Network can contact Jean-Philippe Bohy at Jean-Philippe.BOHY[at]srb.europa.eu.

ESMA

The ESEF Regulatory Technical Standards for 2022 was adopted by the European Parliament and subsequently published in the Official Journal on 7 March.
This means that the ESEF 2022 taxonomy can be used for filing as it enters into force on 27 March.

IASB has recently published the IFRS 2022 taxonomy on 24 March. ESMA is analysing the new version and considering amendments to the RTS and ESEF taxonomy.

The 2021 ESEF conformance suite and filing rules are available on the ESMA website.  Feedback on these documents is appreciated and will be used by ESMA to further improve them.

Events

EIOPA meet the market on April 6.

XBRL-EU conference in Paris on June 13 and 14.

AOB

XBRL International has developed data quality rules for ESEF reporting using the XULE language (not XBRL Formula).