2021.10.27 minutes

EBA update

Filing rules v5.1 was published on 19 October on Reporting framework 3.2 | European Banking Authority (europa.eu) to improve two rules:

  1. Modify rule 1.6 to simplify the usage of filing indicator by removing the option “empty filing indicator”. This updated rule must be followed from 2023-01-01 for all the submissions and resubmissions.
  2. Modify rule 3.6 to improve CON/IND information circulation and to allow for multiple consolidation levels for an entity, CON/IND is being moved from module name to reporting subjects from reference date 31/12/2022 onwards.

We are now reopening TFERF (taskforce for evolving reporting format) with NCAs and XBRL international to improve the Formula specification and to define the timeline to mandate the csv format.

3.2 phase1 is in development (COREP, AE, GSII, IF), aim to have draft review in December.

ECB update

No updates reported.

EIOPA update

Preparation and publication of 2.6.0 Hot Fix (Corrective release for insurance and pensions). Only includes changes to the validations. This will be published on Wednesday 3 November 2021.

Public consultation on 2021 ITS on reporting/disclosure ended on 17 Oct, EIOPA starts working on draft annotated templates until mid-December before start preparation of the  2.7.0 releases. First Public Working Draft foreseen to be published in February 2022 (one quarter earlier than usually).

On PEPP, EIOPA will continue working during next two months on taxonomy and annotated Templates for 2.5.1 PEPP Prudential as well as on the inclusion of PEPP reporting in the insurance and IORPs reporting.

EIOPA is in the process to assess, together with NCA’s, the need and readiness for using the xBRL-CSV format for data collection.

ESMA update

ESMA is changing the staff working on ESEF.

That staff is working on finalizing the 2021 taxonomy files and conformance suite. The taxonomy will be based on the IFRS 2021 taxonomy.

Publication and use depends on approval by the European Co-legislators of the relevant delegated act. This approval is expected by February of 2022.

Entities that want to report before approval is given, can use the current version of the taxonomy.

SRB update

Single Resolution Fund data collection:

Portal will be open beginning of November for testing purposes by NRAs.

Resolution data collection:

The “complete” taxonomy package provided by SRB was missing a couple of files owned by XBRL International. These have been added. Nothing changed in the SRB taxonomy itself.

The portal will be open for testing by NRAs in the beginning of February 2022; go-live in production is always one month later than the testing portal.

SRB has issued filing rules for Impracticability reporting: https://www.srb.europa.eu/system/files/media/document/SRB%20XBRL%20Filing%20rules%20for%20the%202021%20notification%20of%20impracticability%20of%20bail-in%20v.1.1.pdf.

SRB is ready to receive reporting of notifications and of MREL/TLAC.

SRB is considering accepting xBRL-CSV reporting from NRA’s from 2023 onwards and moving to xBRL-CSV completely by 2024, depending on timely publication on updated specifications.

Events update

Xbrl Europe organizes the 29th XBRL Europe Digital week from 22 to 24 November 2021.

Eurofiling organizes a virtual conference titled “Extending ESEF opportunities” on 7 December 2021 that will also address the new ISO standard 5116 for DPM and sustainability reporting.

XBRL International virtual conference is postponed to Q1 of 2022.

For more information see the 2021.eurofiling.info website

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