General note: below minutes are written by Eurofiling and are not official statements by the mentioned organisations.
EIOPA
EIOPA is preparing a hotfix for the SolvencyII taxonomy that must be used for reference period 31 December 2024. It will be published at the end of September or early October.
ECB
No news to report.
EBA
EBA has created a draft of the 3.5 taxonomy and shared it with NCA’s for testing.
The final version will be published in the first week of July. It will be provided in two versions.
One version is based on the current EBA taxonomy architecture (v1.0); this version must be used by reporting institutions for submitting data to NCAs.
The second version is based on the new architecture (v2.0). This version is provided for analysis and testing by software providers and reporters only. Feedback to the EBA is highly appreciated.
EBA will start working on EBA taxonomy v4.0 soon. This version will be based on EBA taxonomy architecture v2.0. It will contain all modules as they all change. This is caused by the new data dictionary that is used. The new data dictionary comes out of the DPM quality review project. Some modules will also have content changes (changed ITS).
Alongside EBA taxonomy v3.5 EBA will also publish a new version (5.4) of the Filing Rules.
Changes are:
- The required accuracy of monetary values will be lessened.
Where it currently is 1000 euro’s, it will become 10.000 Euro’s.
In technical terms: the minimum value of the decimals attribute will be -4 instead of -3.
This higher value is allowed for reports submitted on or after 1st April 2025.
- The file naming convention will use the module version instead of the taxonomy version.
As these versions are currently the same, it will not have an impact on the outcome.
From taxonomy v4.0 the taxonomy version will not be provided anymore, only module version will exist.
- The document has been updated to refer to the recommended version of the xBRL-CSV specification.
Question was raised on filing indicator logic in validation rules.
The current taxonomies use parameters that store the values of filing indicators. The logic assumes those filing indicators to be provided as tuples. As tuples don’t exist in xBRL-CSV the logic doesn’t work correctly. EBA will look into this.
ESMA
ESMA has recently published the final report on the draft RTS amending the ESEF taxonomy.
These amendments aim to update the ESEF taxonomy to include changes to the latest versions of the IFRS taxonomy in 2023 (23 March 2023) and 2024 (27 March 2024), as well as the adoption of the latest versions of the XBRL International specifications.)
A question was raised on mandatory items in the report. The answer is that the items related to a specific topic are mandatory if there is a disclosure for the topic.
SRB
No news to report.
Sustainability reporting
No news to report.
Events
- XBRL Europe has held its conference in Valette, Malta on 23-24 May. Presentations and recordings of the session will be provided soon via the XBRL EU website.
- Eurofiling 2024 will take place in Dublin next week.
- XBRL Asia Round table will take place on July 8th in Japan.