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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
------------------------------------
Country 3Country 2 Country 27
NCB 2 FSA 3 Sup 27
Report 27
----------------------------------------------------------------------------------------------------------------------------------------------------------------
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
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