General note: below minutes are written by Eurofiling and are not official statements by the mentioned organisations.
EIOPA update
A hotfix version of the Solvency II taxonomy 2.10.0 is foreseen for October 26. This version of SII goes live as from reference date 31.03.2027.
Version 2.8.2 must be used for reference data before that date.
EIOPA has simplified Solvency II, by removing 11 templates from the Solo reporting and 2 templates from the Group reporting, and by working on the frequency reduction and proportionality.
The Insurance Recovery and Resolution Directive (IRRD) taxonomy 2.11.0 was published in July. It may be that a hotfix is published in November.
Reporting shall start as from reference date 31.12.2027 and the first submissions are expected in 2028; i.e. within 18 weeks for Solo and within 24 weeks for Group reporting.
If the financial year is different from the calendar year, then the periods are 20 and 26 weeks after the end of the financial year.
NACE2.1: the new classification is included in SII 2.10 starting from 31.03.2027 reference date.
For Pension Funds, PEPP, FICOD, we foresee hotfixes to address the NACE codes next year, to be used as from reference date 31.12.2027.
EBA update
EBA is finalizing the 4.4 phase 1 version of the taxonomy.
Feedback on the July draft is being processed; after formal approvement in the first week of October, the final version will be published mid-October.
Updates in this release are:
- FINREP module for IFRS18; this version can be used until the ITS on FINREP will be approved and the next taxonomy that includes IFRS18 is in production
- Resolution is updated
- P3 small adjustments and updates according to previous issues
- AMLA the module on Risk Assessment was recreated, therefore the module in EBA 4.3 will not be used.
- AMLA additional module for Eligibility.
- TCB Liquidity was also recreated, therefore the module in EBA 4.3 will not be used
- MREL decisions is updated to fix a datatype
Works are ongoing on 4.4 phase 2:
- draft version is expected in December
- most of the modules will apply from 30.09.2027 or 31.12.2027, depending on the legal publication timeline
- it’s a big package because of the new ITS versions that follow the simplification efforts.
- DORA will also be updated as well. This new version is to be used in 2028, for 2027 DORA 4.0 must be used.
Validation rules in P3 are always deactivated for ITS reasons.
AMLA update
The reporting entities will be using the EBA taxonomy to submit data for the reference date 31.12.2026. Submission is done to NCA’s who will send the data to EBA via Euclid. EBA will make the data available to AMLA.
AMLA collects data on Risk Assessment and Eligibility.
More information on Eligibility will be given in the call of November.
The format for data collections from 2028 onwards is not determined yet.
SRB update
Resolution: code review of the business rules in RESOL1 and RESOL2.
SRF data collection will start in November. The UAT environment is not yet available for the NRAs, due to a calamity in one of the datacenters.
ESMA update
No updates.
ESEF taxonomy will not be updated this year; it will be changed next year.
EFRAG has published the ESRS taxonomy. Comments are welcome until 11 November 2026 (link): after this period ESMA will include that taxonomy in its taxonomies.
XBRL International update
Table Constraints 1.0 has reached recommendation status.
Table Constraints 1.1 is in progress as new version of the specification, with improvement to address type validation for reports using property groups.
Table Linkbase 1.1: a minor update to the Table Linkbase specification to give more flexibility on how dimensions are arranged.
Taxonomy Packages 1.1 will bring a new feature to deal with dependencies between taxonomy packages that are owned by other organisations.
This will remove the need felt by many authorities to include in its own taxonomy package a version of a taxonomies from another owner.
Project Tavi: this major development shall deal with a new way to describe taxonomies and broader technical requirements.
Public WD is out (Project Tavi 1.0), we will work on adjustments after this.
Sustainability update
EFRAG has published the draft version of the ESRS taxonomy. The public is invited to provide comments (link).
Upcoming events
- Data Amplified in Den Haag October 26-27.
More information: Data Amplified. - SEMIC yearly event to address interaction between governmental organisations in Europe.
More information: Interoperable Europe Portal.