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.


22/23 March: BIS Innovation Hub gathering.

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


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