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STATUS REPORT
Rome, 23th April 2010
Ignacio Boixo and Katrin SchmehlCEBS XBRL Operational Network
New FINREP, updated COREP
COREP rev2 (Jan 2010) XBRL taxonomy
Differential report on COREP 1.3.0
FINREP taxonomy, 2009-12-31. Public exposure
Transformation of business requirements in an IT oriented structure
COREP and FINREP both represent EU Directives by way of a framework of instructions and tables comprising:
A set of cells
A set of breakdowns
The 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
Transformation of business requirements in an IT oriented structure
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
Transformation of business requirements in an IT oriented structure
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
Formal Data Model aka DATA POINTS
Best Practices
XBRL Operation Network
Best Practices on Data Definitions
http://www.xbrlwiki.info/index.php?title=Best_Practices_on_Data_Definitions
Ongiong Consultation Paper: COREP
• Harmonisation at IT level
CEBS develops and maintains the COREP XBRL taxonomy and recommend the use of XBRL across its Member States in the COREP guidelines. To complement the XBRL taxonomy, CEBS will incorporate and recommend IT best practices on cell definitions in order to standardise conversions to decimal values, precision, percentages, threshold/tolerance margins, identification of reporting institutions, and administrative codes, among other factors.
European Commision requested fundraising 2010
Task Description Budget
T1 & T7Commercial &Proof of conecpt tools
Open call for “demos” of commercial solutions and a competition for FINREP proof-of-concept IT tools is being planned. This “crowdsourcing” strategy is suggested by Inforpress Group.
15,000 €
T2, T5 & T6Test casesFINREP updateFormulae
FINREP O. N.: Test cases, validation definitions, Framework update (IAS 39)Contract: FINREP Taxonomy update and Formulae
25,000 €
T8 ™ Register "Eurofiling" as Trade Mark in Europe 3,000 €
T9 Collaboration Framework
T9 Provision of Collaborative Framework, Webmaster and administrative support, for the CEBS XBRL Operational Network
12,000 €
TOTAL 55,000 €
XBRL Operational Network of the
www.c-ebs.org
www.eurofiling.info
Ignacio Boixo Katrin Schmehl+34 618526434 +496995666584
