Finance Track: BankingEurofiling initiative:

Harmonized and streamlined Banking SupervisionIgnacio Boixo

This project can under no circumstances be regarded as

reflecting the policies of the European Union

This project is made possible with the

financial assistance of the European Union

Basel II, IAS/IFRS …

EC 2006/48 & 49 …

Country 1

Sup 1

Report 2Report 1

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Country 3Country 2 Country 27

NCB 2 FSA 3 Sup 27

Report 27

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Report 3

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National Regulation

Transposition into national Legislation

European Law9X,XX% best practices + EU requirements

National Implementation

XBRL challenge!

Global best practices

European Collaborative Framework

Weekly

Conf.

Call

e

-mail l

ist 300+

Workshops:11 editions

70 attendees each Website, News &

Communication

Core Team:Supervisors

BE, DE, ES, FR, IT, LU... + Non Supervisors

Budget: 2005-2008: 0 €/year2009-2010: 60,000 €/year

PdAssignedObligorGrade 2.365,00

OriginalExposurePreConversionFactors 4.568,00

OfWhichArisingFrom 1.234,00

Guarantees 4.787,00

CreditDerivatives 1.234,00

OtherFundedCreditProtection 9.564,00

TotalOutflows 1.264,00

TotalInflows 8.545,00

Institutions

Yes

Total Exposures

On Balance Sheet

COREP and FINREP both represent EU Directives by way of a framework of instructions and tables comprising:A set of cellsA set of breakdownsThe set of valid combinations of

cells and breakdowns (facts)

The first step from an IT point of view is normalize (in the IT sense) the framework of tables into a formal data model.

The formal data model is NOT linked with any specific format (CSV, XML, Flat File, XBRL, OWL…)

multidimensionaldata model

CEBS frameworksCEBS frameworks Data modelsData models

CEBS XBRL ON analyses both frameworks- identification of the differences- provision of recommendation- query for solutions to the COREP and FINREP ON

http://www.xbrlwiki.info/index.php?title=Best_Practices_on_Data_Definitions

Differences in COREP and FINREP

COREP FINREP

Both frameworks are published by a common organisation◦ Supervision corporate identity,

Eases the comprehension for banking institutions implementing both frameworks,

Eases the comprehension of IT departments and software vendors dealing with both frameworks,

If one framework is known, the other framework shall be intuitively understood,

Prevents organisational risks by misinterpretations of structural definitions,

Data formats are also being harmonised.

Same meaning of cell colours◦ grey colour◦ criss crossed◦ yellow colour

unique definition of positive or negative numbers

unique location for clarifications

unique location for references

unique numbering system

unique presentation of validation rules

UNIFICATION

Initial approval of new IT architecture for FINREP and COREP taxonomies

Free attendance, please register at www.eurofiling.info