2023.01.25 minutes

work in progress

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2022.11.30 minutes

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!

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2022.10.26 minutes

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.

Please be aware that registration closes on December 2nd 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

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2022.09.28 minutes

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 27th, 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/

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2022.08.31 minutes

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.

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2022.06.29 minutes

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.

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2022.05.25 minutes

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 3rd.

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: 30th 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

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2022.04.27 minutes

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)

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2022.03.30 minutes

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 1st 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).

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2022.02.23 minutes

Eurofiling taxonomy update

Eurofiling has updated the Eurofiling taxonomy that is used in many DPM-style taxonomies like those from EBA, ECB, EIOPA, SRB and many national authorities to fix an error found in the current release (v1.1).

The error was introduced when changes were made to accommodate the new xBRL-CSV syntax.

The new version (1.2) contains henceforth two pivot variables which can be used to force XBRL processors to evaluate assertions for which no other fact variables were found than the Filing Indicators:

  • pivot-var: is restored in the original state to maintain backwards compatibility and further use when processing the xBRL-XML syntax
  • pivot-var-fi: this new variable is added to allow processing of XBRL reports in the xBRL-CSV syntax

For a taxonomy which wants to allow processing both the xBRL-XML and the xBRL-CSV syntax in parallel, assertions which need the pivot variable must point to both variables.

The new files can be downloaded from the Eurofiling website: https://www.eurofiling.info/taxonomypackage/1.2/TP-Eurofiling1.2.zip.

The individual files can be found at: https://eurofiling.info/portal/eurofiling-taxonomy-architecture-url-map/.

Eurofiling recommends to upgrade your XBRL systems to the most recent package.

EBA update

EBA will use the new pivot-var structure from Eurofiling.

EBA taxonomy 3.2 will be released in 3 parts.

EBA 3.2.p1 will be published in March containing update to frameworks COREP, IF,AE and GSII.

EBA 3.2.p2 will be published in June / July containing all other frameworks besides REM.

EBA 3.2.p3 will be published in September containing the REM framework, because of the legal timeline.

 

EBA 3.2 uses a new datatype that prohibits empty typed members.

 

EBA may provide a solely technical update to EBA 3.1 and EBA 3.0 to address updates to severity level of validation rules.

 

ECB update

The ECB will start work on a new version of the supervisory financial reporting data points (SFRDP) once the EBA 3.2.pe (FINREP) is published.

ECB will follow the approach of the EBA with regards to recording of the consolidation level.

 

ESMA update

ESMA will start work on a new release of the ESEF taxonomy once the IFRS update is available (expected in March 2022).

The formal approval (and publication in the Official Journal) of the 2021 ESEF Regulatory Technical Standard (RTS)  – containing the 2021 ESEF taxonomy – is still pending. The European Parliament’s scrutiny period on the ESEF RTS ends at the end of the month. Afterwards, the 2021 ESEF RTS needs to be published in the Official Journal and will enter into force 20 days after publication.

Therefore institutions that need to publish their Annual Financial Reports must use the 2020 ESEF taxonomy version, which is based on 2020 IFRS taxonomy.

Following adoption of the “Holding Foreign Companies Accountable Act” (HFCAA) introducing requirements regarding the identification of auditors, The SEC is requiring filers to use the 2021 version of the IFRS taxonomy due to compatibility reasons with the updated Document and Entity Information (DEI) Taxonomy. Otherwise, their filings will get suspended.

This might force organisations that are dual listed (EU/US) to create two versions of the statements: one for EU using the 2020 ESEF (and 2020 IFRS taxonomy) and another for the US using the 2021 IFRS taxonomy.

EIOPA update

No update.

SRB update

No update.

Events

22/23 March: BIS Innovation Hub gathering.

26 April: sustainability summit in London (by invitation only).

 

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