General note: below minutes are written by Eurofiling and are not official statements by the mentioned organisations.
Written update received:
Release 3.4 is in the internal approval process at the EBA and is expected to be published on Feb 8, with updates for MREL/TLAC and IRRBB.
!! This taxonomy requires Eurofiling Taxonomy package 2.0 to be installed !!
Next release will be 3.5 with updates on FRTB, REM, and new frameworks DORA and FICO.
Written update received:
no significant updates; the annual resolution data collection is starting on March 1.
written update received:
On 7 December 2023, ESMA published an update to the European Single Electronic Format (ESEF) XBRL taxonomy 2022 files and the ESEF Conformance Suite 2023 to facilitate the implementation of the ESEF Regulation.
Following ESMA decision to postpone to 2024 the annual amendment of the ESEF Regulatory Technical Standards (RTS) reflecting the 2023 International Financial Reporting Standards (IFRS) Taxonomy, the update of the ESEF XBRL taxonomy 2022 files and the ESEF Conformance Suite 2023 is limited to:
- Minor corrections aimed at improving usability, and
- Updated Conformance Suite test fields facilitating the implementation of the updated version of the ESEF Reporting Manual into software products used by preparers to produce their ESEF report package.
Following the publication of the ESAP legislative package in the European Official Journal on 20 December 2023 (Regulation (EU) 2023/2869), the ESAs has published a Consultation paper on the draft ESAP implementing technical standards (ITSs) regarding the tasks of the collection bodies and the functionalities of the ESAP on 8 January 2024. The deadline for the submission of comments to the public consultation is 8 March 2024.
In advance to the end of the consultation period, the ESAs are organising an Open hearing to provide with an opportunity for all stakeholders to learn more and exchange views about the proposals contained in the Consultation Paper and to ask questions related to the ongoing consultation. The Open Hearing is organised in the form of a webinar and will take place on 16 February 2024, from 9h30 to 12h30 CET. We invite you to participate and exchange views with us at the open hearing.
Please register by 12 February 2024 at 16h CET using the following registration form. Through the registration form you will be able to include those questions you would like to be addressed during the hearing and also, to express your interest to become a member of an ad-hoc group to support ESMA in the implementation of ESAP.
SolvencyII: no release planned for 2024, so release 2.8 will remain in use until 2025.
IORP: a hotfix is expected towards the summer.
EIOPA published an update of the exclusion list of validation rules recently. Also an update of the filing rules document has also been published: it clarifies rule 3.1 on multicurrency reporting.
Participants mentioned issues with XPATH general filters in validation rules for certain software products.
Questions were raised on the artificial keys in S.14.01 and S.14.02: they seem to have a many-to-one relationship where filing rules seems to request uniqueness. Also on S.17 and SE.17 templates: validation rules seem to be missing, which causes errors when NCA’s send converted data to the ECB. EIOPA will look into them.
General comment on questions and issues with reporting. For content related questions, use the Q&A feature provided by EIOPA, for technical (XBRL) questions contact EIOPA through email firstname.lastname@example.org. See the EIOPA website (bottom) for more information.
Recently, EFRAG has prepared three Implementation Guidance documents for consultation, on materiality assessment, value chain and datapoints, which gives an idea on what will appear in the reporting. More information on https://www.efrag.org/News/Public-471/Publication-of-the-3-Draft-EFRAG-ESRS-IG-documents-EFRAG-IG-1-to-3-.
Standards applied are:
ESRS 2 – General Disclosures
ESRS 2 – Minimum Disclosure Requirements (MDR)
E1 – Climate Change
E2 – Pollution
E3 – Water and Marine Resources
E4 – Biodiversity and Ecosystems
E5 – Resource Use and Circular Economy
S1 – Own Workforce
S2 – Workers in the Value Chain
S3 – Affected Communities
S4 – Consumers and End-users
G1 – Business Conduct
The original idea was to publish a draft taxonomy this month, but EFRAG has chosen to not publish yet. The final publication date is not yet known either.
The topic of filing rules for EFRAG was raised: will EFRAG publish a set of Filing Rules?
Comments from participants are that the situation is not comparable to what we are used to, usually the collection organization writes the taxonomy and the filing rules. Here ESMA collects and EFRAG writes the taxonomy.
We are ready to upgrade to version 2.0.
The public working draft 3 was provided to all on December 21st. No more comments were received.
Eurofiling will publish the Taxonomy Package update on 31 January 2024, as EBA will use this package in the upcoming taxonomy version 3.4.
A question was raised during the call on the proper working of the new OIM compliant filing indicators. No issues are expected: the pivot-variable system was not modified in version 2.0.
If need be, issues will be solved.
5-6 June 2024: Eurofiling conference hosted by the Bank of Ireland.
The Eurofiling President explains the intensions of the workshop, and the Program Organization Committee has started work.
If you want to add subject or topics, please contact info (at) eurofiling.info.