General note: below minutes are written by Eurofiling and are not official statements by the mentioned organisations.
EBA is working on release 3.3.phase1 which it plans to publish in May.
No developments to discuss. As previously mentioned there will not be a release of the SFRDP taxonomy as there are no changes in FINREP.
The SRB is preparing the SRF 2024 collection. As every year, the taxonomy will be shared by the end of July 2023 for a collection starting in Nov 2023.
The SRB will do an extension on top of EBA3.3 for Resolution Reporting. The taxonomy will be ready (as each year) by the end of Sep 2023. The collection will start on 1 March 2024.
Technical difficulties prohibited EIOPA from attending.
They have sent the following information to include in the minutes:
- As EIOPA started to use a commercial tool for taxonomy production and it affected the output files, EIOPA organised first an information session for NCA experts after the publication of the Internal Working Draft of 2.8.0 on 26 January 2023 and held a Taxonomy-meets-the-market public event on 8 February 2023 where the differences in the output files were presented (over 600 registered participants including NCA experts). We received very useful feedback that we are now incorporating in the final release of the 2.8.0 taxonomy.
- EIOPA published a communication file about the upcoming technical and business changes up until 2026 on its dedicated webpage for Supervisory reporting – DPM and XBRL to allow the market to anticipate and to adapt to these changes. We are explaining in the document what business and technical changes we are introducing, what consequences this will have and when they will be introduced. The foreseen changes in a nutshell are:
- The use of a commercial tool for taxonomy production
- the DPM Refit and DPM Studio initiatives that we are working on together with EBA. The latter will replace the commercial tool in due course.
- Currently we work on the following releases:
- Publication of 7.1 release is necessary to include the reflection of Croatia entering the Eurozone and should be used as of reference date 01/06/2023.
- 8.0 release only for Insurance: it includes the ITS amendment due the SII Review. Final release will be published on 17 March 2023 and the 2.8.0 Hotfix, if needed, latest in July 2023. (Application date end of 2023)
- 8.1: FICOD shall be treated as a completely separate framework (same as S2, PF, PEPP PR, PEPP KID) and will be published as a standalone package in July 2023. (Application date: end of 2023)
- 9.0: Revised Decision on IORPs Reporting. Final version will be published in July 2023 (Application date: January 2025)
ESMA is planning the integration of the soon (March?) to be released IFRS 2023 taxonomy in the ESEF taxonomy.
ESMA is also looking at the integration of the European Sustainability Reporting Standards.
More information will follow.
- XBRL Europe conference in Rome, Italy on 22 and 23 May 2023.
- 28th Eurofiling Workshop in Frankfurt, Germany hosted by the European Central Bank on 13 and 14 June 2023
- XBRL Int. Data Amplified in Zurich Switzerland on 16 and 17 October 2023.
See the Eurofiling website for up to date information.
EFRAG is developing a taxonomy for ESG data with the help of an external party. A public consultation release is expected for April of 2023 as stated in the original tender document.
The taxonomy will be developed in a such a way that extensions are not required for reports based upon it. This means that typed dimensions will be employed.