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VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid. Sharing experiences of XBRL projects COREP/FINREP in France. Sylvie LEPICIER XBRL France. Agenda. XBRL France COREP FINREP in France Use Cases Issues and Solutions. Institutions - PowerPoint PPT Presentation
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Sharing Sharing experiences experiences of XBRL projects of XBRL projects COREP/FINREP COREP/FINREP in France in France
Sylvie LEPICIER
XBRL France
VI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Agenda
• XBRL France
• COREP FINREP in France
• Use Cases
• Issues and Solutions
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
InstitutionsCompagnie nationale des Commissaires aux ComptesSecrétariat Général de la Commission Bancaire (Banque de France)Conseil National de la ComptabilitéConseil Supérieur de l’Ordre des Experts ComptablesINSEE
AuditorsPriceWaterhouseCoopers
• Financial data provider• COFACE
• Companies–Non profit organisations• BNP Paribas• Edificas• PSA Finance• GE Factofrance• OCBF• Groupe Banque Populaire• Groupe Caisse d’épargne
IT companies,Software providers, experts
Atos Origin Integration
Cartesis
CEGID
Microsoft France
SopraGroup
Software AG
UBMatrix
Invoke
III - Umanis
LGB Finance
Viveo
Fujitsu
C. Marion
XBRL France Members in 2006 (27 members)
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Not for profit organisation
With Board and Steering Commitee
Phillippe Bonnin - President
Bruno Tesnière – Vice President
Sylvie Lepicier – Treasurer
Jean-Luc Menda – Member of the Board
Gilles Maguet – Secretary General
XBRL France – Legal Structure
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Taxonomy Working group
French financial statements Taxonomy Working Group with the aim to set up a taxonomy according to French Gaap in coordination with Edificas organisation
IFRS Taxonomy Working Group – Translation of the IFRS Taxonomy
COREP/FINREP Working Group geared by Banking Commission in France
Marcom Croup (events, marketing materials, breakfasts, newsletter, etc.)
Technology Group in support to the other groups
XBRL France – Working Groups
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
1st step : To Carry out the translation of 4000 elements names of the 2005 IFRS GP Taxonomy
Process : a translation group has been set up between XBRL Belgium, NBB (National bank of Belgium), XBRL France, Banque de France, CNC (Conseil national de la Comptabilité – France) and IASB in July 2006
An intern appointed by XBRL France is in charge of this specific task
The cross-checking is under process between CNC and NBB
XBRL France – Translation of the IFRS Taxonomy (1/2)
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
To help the checking, all the labels are classified by accounting class (Balance sheet classified, BS liquidity, BS portfolio, Income statement by function, by nature,...)
The FINREP translation is also taken into account
A release in draft wil be probably available for mid october
The final release should be ready for mid-november
Next step : the translation and checking of the 2006 IFRS GP Taxonomy
XBRL France – Translation of the IFRS Taxonomy (2/2)
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Agenda
• XBRL France
• COREP FINREP in France
• Use Cases
• Issues and Solutions
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Banking Regulatory Reporting in France
Before June 2007 : Existing system
$
$
BAFI FR GAAPBAFI IFRS
BAFI FR GAAP
MonthlyQuarterly…Annually
SITU.CB :….AAØØ1Ø3B5A…………..000000100000………
IFRS
Banque de France(SGCB)
Consolidated accounts
Corporate accounts
SGCB : Secrétariat général de la Commission Bancaire
BAFI : Base des Agents Financiers, existing reporting system
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Regulatory Reporting in France
After June 2007 : COREP FINREP
$
$
BAFI FR GAAP
Banque de France(SGCB)
(Quarterly)Semi-annuallyAnnually
BAFI FR GAAP
BAFI IFRS
COREPFINREPSGCB
COREPSGCB
IFRS
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Regulatory Reporting in France COREP FINREP Regulatory Requirement
June2007
1st reportingin Paris
PublicationFINREP & COREP
CEBS
June2006
PublicationFINREP & COREP
(last project) FRANCE
Oct.2007
Deadline for transmission
January 2006
(reduced)
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Agenda
• XBRL France
• COREP FINREP in France
• Use Cases
• Issues and Solutions
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Use case 1French bank with international and european subsidiaries
Macro-Analysis
Dictionnary
PérennizationMaintenance
Project Management
Fullfillment
Intégration
Mapping
Gap treatment
Sensibilisation Workshops
?
??
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Use case 1 The main questions at each step
• Lexical / Dictionnary :
•Questions : how to summarize all the regulations on COREP and FINREP and how to give a correct meaning for the understanding of each party within the bank
•French CB instruction (COREP in november and FINREP in June)
•CRD directives
•Basel 2 texts
•IRFS rules
•Questions/answers from French Banking Federation (FBF) and Banking Commission
•Local bank financial rules referentialDICTIONNARY
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Use case 1 The main questions at each step
Gap treatment
•Mapping :
•Once precisely defined the exact meaning of elements, find the way of mapping the data :
•Direct mapping : the data already exist in the accounting system or risk systems
•The data don’t exist : gap analyses and treatment
•Examples :
•the breakdown by counterparty
•Risk cells for FINREP
•New breakdown (ex : 2 years for risk liquidity instead of 1, 3 and 5 years as before)
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Use case 1The questions regarding the IT architecture for FINREP and COREP reporting
Risk Management
Data
Accounting and
consolidationsystem
FINREPCOREP
?
?
Counterparties breakdown
Prudential templates
?
Subsidiaries
Credit risk
Risk Management
Data
Market risk
Xls.xbrl files
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Use case 1The questions regarding the IT architecture for FINREP and COREP reporting•What is the best organisation to produce COREP and FINREP reportings ?
•Head of Finance and Heaf of Risk separately or the financial department, traditionnally in charge og the reporting tasks ?
•Which systems to use ?
•Legacy systems already operationnal for consolidation and risk management, both of them or a special XBRL tool ?
•Reporting systems already operationnal or a new XBRL system as a convertor/validator ?
•Which are the controls to enforce for :
•Reconciliation of risk data and accounting data
•Treatment of gap (COREP and FINREP data required and data available in both systems)
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Use case 1The « state of art » regarding the IT architecture for FINREP and COREP reporting•Most of the time, the financial department is in charge of reporting as before
•The data reconciliation between risk and acounting is viewed like as an important parameter in the project
•The choice of the XBRL tools (XBRL module of existing systems or new provider for convertor/validator) is still pending at this step
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Use Case 2 French bank specialised in consumer credit
Business complianceTechnology complianceCommission bancaire
Master data base
Susidiaries
XBRL tools
Outsourcing
providers
subsidiaries
Accounting and consolidation systems
XBRL Tools (viewer,…)
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Use Case 2 French bank specialised in consumer credit
•The main issues identified are :
How to collect data from
• subsidiaries (which own their proprietray legacy IT system)
• partners (the bank has outsourced most of the back office management tasks)
• How to deal with subsidiaries In / outside Europe (COREP/FINREP and non COREP/FINREP)
• How to extent the XBRL tools through the whole bank
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Agenda
• XBRL France
• COREP FINREP in France
• Use Cases
• Transversal Issues
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
The main planning for COREP and FINREP reporting en France
FINREP
Semi-annual
June Octobre 2007
December Avril 2008
COREP
Quaterly if total of assets sup 80 milliards euros
If not semi-annually
June septembre 2008
December Mars 2008NB : As of June about 15 statements have to be sent
As of december about 27 statements
4 months
3 months
2 months
3 months
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Due to the reduction of remittance delay, speed up of data collection and processing are required
Stream B : Closing process consistency “Fast Close”Speed up of data collection and processing
New tasks to be handled Risk-accounting data reconciliation process and tool implementation Co-validation of RWAs Control of Regulatory reporting Collection and assembling of Credit, Market and Operational RWA ; new ratio calculation
Stream B : Closing process consistency “Fast Close”Speed up of data collection and processing
New tasks to be handled Risk-accounting data reconciliation process and tool implementation Co-validation of RWAs Control of Regulatory reporting Collection and assembling of Credit, Market and Operational RWA ; new ratio calculation
New tasks to be handled Risk-accounting data reconciliation process and tool implementation Co-validation of RWAs Control of Regulatory reporting Collection and assembling of Credit, Market and Operational RWA ; new ratio calculation
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Dates to keep in mind at the Europeanlevel Which agenda should be respected ?
TCHEQUIEsubsidiary
AUSTRIAsubsidiary
Francesubsidiary
BelgiqueHead-office
Basel II : local options / calculation rules (counterparty types ,…)
First date / frequency : quaterly, remittance delay (down to 8 days ?), cells asked : all
First date / frequency : quaterly, remittance delay (1 month),
First date (june 2007)/ frequency : semi-annually, remittance delay (down to 2 months)
First date (Finrep 2006, Corep 2008)Remittance delay : 40 days
?
Example
Sylvie LEPICIER, XBRL FranceVI European Banking Supervisors XBRL Workshop, 4th – 5th October 2006, Madrid
Thank youMuchas gracias
XBRL France
153, Rue de Courcelles
75017 Paris
+33.6.87.89.71.91