17th XBRL International Conference “Bank of Spain – XBRL Formulae for COREP and FINREP” Víctor Morilla (Banco de España) Eindhoven May 5-8, 2008

The new Formulae specification Defining transformation rules to produce new facts from existing ones Verifying data reported according to validation rules Value assertions Existence assertions Consistency assertions Documenting those rules Features: Business oriented Maintainable Extensible

Validation example Own funds > Credit Risk Cap.Req + Market Risk Cap.Req $of > $crcr + $mrcr Concept filter = corep:MarketRiskCapitalRequirements Concept filter = corep:CreditRiskCapitalRequirements Concept filter = corep:OwnFunds

Dimensional validation example $total <= sum($byCountry) Dimension filter : Country = Total Dimension filter : Country = child(Total) Dimension Country Total France Spain … Concept filter = Incomes Expenses Profit Profit before taxes

Advantages Powerful but simple model to express business rules Higher quality of data Shorter time to elaborate and debug information Cost reduction for both the authority and the regulated entity

But… The development of common formulae linkbases exposes some lack of homogenization among supervisors Precision of the required data

Thanks for your attention