Minutes January 3rd, 09:30 London, 10:30 Brussels, 11:30 Athens.

1.     CEN WS XBRL Project  See our public working WIKI space at www.xbrlwiki.info  

Open comments about potential strategies in harmonizing Entity Identification at Business level (DPM, XBRL Taxonomy/Instance).


Eurofiling best practices for Reporting Entity (dated 2010), based in ECB’s Monetary and Financial Institutions List (thus COREP/FINREP only), available at http://xbrlwiki.info/index.php?title=Best_Practices_on_Data_Definitions#Reporting_entity_identification

Example of a FINREP report (Saving and Loans Confederation http://www.cajasdeahorros.es/#/PAG|estados  ), using Eurifiling best practices for reporting entity identification on XBRL instance document http://hidra5.ceca.es/2000/bacuan.nsf/DFF54126F447FA65C1257A020044A8D3/$FILE/BP.xbrl     

<entity>  <identifier scheme=”http://www.ecb.int/stats/money/mfi“>ES2427</identifier> …. </entity> (hence using XBRL standard context )

European Commission: Core Business Vocabulary (used in CWA2 XML administrative envelope):  http://joinup.ec.europa.eu/asset/core_business/release/100

Further W3C ongoing developments about registered Organization Vocabulary:   http://dvcs.w3.org/hg/gld/raw-file/default/legal/index.html

The international Legal Entity Identifier (LEI) is an initiative of the Financial Stability Board.

Identification of non financial entities (as members of the Group) is needed: http://eba.europa.eu/Supervisory-Reporting/COREP/COREP-framework.aspx  

In the COREP table of “Capital and group solvency details” each entity is defined by a “Name of the consolidated sub group or regulated entity” and a “Code assigned to the consolidated sub group or regulated entity”. Implemented as Typed Dimension on current COREP taxonomy.

Drawbacks using a name (string of characters):

Spelling typos in official documents as http://www.legifrance.gouv.fr/affichTexte.do?cidTexte=JORFTEXT000023311888 Art 1. ….  « Groupama Grand-Est »…  Art 2. …. « Groupama Grand Est »…. Note the hyphen in « Groupama Grand-Est » is missing in « Groupama Grand Est ». For an automated system, being the string « Groupama Grand-Est » different from « Groupama Grand Est »,  there are two different entities in the same legal document!

Change of legal name: instability. Length of legal name undefined. Which alphabet/codification? (Eurofiling best practice: UTF 8). Alphabet arcane for foreigners.  

Different languages: Two equally legal names in two different languages, as Nationale Bank van België/Banque Nationale de Belgique  at  http://www.ecb.int/ecb/orga/capital/html/index.en.html

Also, in this case, Bank of Greece is the English translation of Greek  the official name Τράπεζα της ΕλλάδοςErro

Advantage: Natural language, humans do not speak in binary tones as R2D2

Drawnbacks using a pair AuthorityIssuing/IdCode: No universal jurisdiction of any single Authority. Lack of a register of Issuing Authorities (W3C investigations). Advantage: Univocal, Stable, IT oriented.

 Drawbacks using a pair AuthorityIssuing/Name (as in the COREP example): Combination of above.

 To be investigated an CEN WS XBRL harmonized approach linking Authorities/IdCode(s) with Name(s) for a single Entity, hopefully taking advantage and implementing in XBRL the appropriate parts of Core Business Vocabulary and W3C studies.

 (early discussions, to be continued…).

 2.     EBA news. Architecture Document to be released soon.

 3.     EIOPA news. No news

 4.     XBRL week in Frankfurt. Events for 2013:

 10th  XBRL Europe Day. Presentations available at http://www.xbrleurope.org/events/past-events/100-2012-december-13-10th-xbrl-europe-day-frankfurt-germany

16th Eurofiling Workshop. Presentations available at http://www.eurofiling.info/201212

XBRL week in Frankfurt. Pictures available at http://www.eurofiling.info/201212/201212_pictures.shtml

Planning of next events: Ongoing.

5.     AOB.

Andreas Weller (EBA)
Aitor Azcoaga (EIOPA)
Eric Jarry  (ACP – Bank of France)
Grzegorz Backer (GPM systemy, PL)
Ignacio Santos (Bank of Spain)
Eduardo Gonzalez (Gonblan, ES)
Bartosz Ochocki (BR-AG, PL)
Masatomo Goto (Fujitsu, UK)
Emile Bartolé (CSSF LU)
Joel Vicente (CoreFiling, UK)
Ignacio Boixo (Eurofiling coordinator)

Colleagues on holidays

This entry was posted in Uncategorized. Bookmark the permalink.

Comments are closed.