EBA update
Taxonomies
Taxonomy 3.1.p2 is published in July.
Taxonomy 3.2 will come in 2 phases: 3.2.p1 in December 2021, 3.2.p2 in May 2022 (provisional planning)
3.2.p1 will contain updates for frameworks COREP, IF, AE, G-SII. The updates for COREP will address the issues identified in release 3.1. COREP-ALMM is expected to change significantly
3.2.p2 will contain updates for frameworks SBP and REN.
COREP-NSFR: the Sub Group on Reporting discussed the impact of the unintended duplication of data point definitions. A fix would require a new release of the 3.1 framework. The impact of that (e.g. delay of 3.2) is considered to be too big.
Filing Rules
EBA will change filing rules 1.6 (filing indicators) and 3.6 (reporting subject identification), the document is currently being reviewed by NCAs (xBRL subgroup)
These changes will come into effect as of 1 Jan 2023 with the applicability (for most frameworks) of EBA 3.2.
EBA 1.6: all filing indicators must be reported, either with a positive of negative value, applicable from 01 Jan 2023 for all the submissions and resubmissions.
EBA 3.6: the consolidation level must be included in the reporting subject, applicable from the reference date 31 12 2022 onwards.
This means that the consolidation level will no longer be included in the module , as is currently done for most frameworks.
EBA 3.2.p2 will therefore contain new versions of frameworks FINREP, RES, COVID19, PAY and MREL to only change the module name, no content changes.
XBRL-CSV
EBA intends to mandate the use of the xBRL-CSV format as of 1 January 2024, assuming readiness of specifications and availability of software solutions. EBA will monitor this closely and adapt if necessary.
ECB update
No changes expected in 2022 for the ECB taxonomies.
EIOPA update
Solvency II 2.6.0 for insurers and pension funds is published.
PEPP 2.6.1 is published
EIOPA plans to provides updates to the validation rules on a monthly basis.
For SII release 2.7 for insurers two working drafts will be published. In February 2022 a version containing the reporting requirements. The second version published in June will contain the validation rules and any improvements following comments on the February release. As usual a final release will follow in July and, in applicable, a hotfix later in the year (October).
For SII release 2.7 for pension funds a significant update is expected. This to improve alignment to SII for insurers, add new business rules and other goals. A consultation on the changes will be held in December of 2021. A draft taxonomy will follow in June. The final version will come in July and a hotfix (if needed) later in the year, just as is done for SII for insurers.
The hotfix for SII v2.6.0 contains only minor fixes.
ESMA update
No update from ESMA.
SRB update
SRF taxonomy v7.0.2 is publicly available: https://www.srb.europa.eu/en/content/2022-srf-levies-ex-ante-contributions
RES taxonomy v6.0.3, based on EBA 3.1, is ready for publication.
It contains additional entry points and validation rules, but no additional data points when compared to the EBA taxonomy.
Samples are available, including files that comply to all validation rules.
Events update
November 16 – 18: XBRL International virtual conference.
November 22 – 24: XBRL Europe ESEF week (virtual)
December 2021: Eurofiling session on free tools for ESEF and the ISO standard for Data Point Modelling.