Jon Wisnieski Senior Information Systems Specialist XBRL at FDIC

FDIC/2 Current Situation  FFIEC Collaboration  Unisys Design, develop, host, maintain  Central Data Repository Secure, web enabled, on-line correction XBRL was the data enabler  CDR launched on October 1, 2005  We experienced success!

FDIC/3 Issues  Post validation  Non-cohesive metadata distribution  Difficult to synchronize metadata  Metadata changes required weeks  70% of data met edit requirements  34% of reports required call backs  Data published 8 weeks after  No FFIEC official system of record

FDIC/4 Solution  Pre-validation of data required Responsibility of data ownership Provide minimum data requirements  XBRL used to synchronize data Financial Metadata  Internet based  On-line data correction  Centralized data repository

FDIC/5 Results After Implementation  Received data sooner  Publish data earlier  Improved data quality  All validity edits are met  Staff work per bank decreased  Financial Analysts finish assignments faster

FDIC/6 How Do We Measure Success?  Received data sooner Legacy: 1 st submission weeks after quarter-end CDR: 1 st submission within 16 hours of quarter-end  Publish data earlier Legacy: Multiple days after receipt CDR: One day after receipt  Result: Receiving data earlier means analysts can use data earlier and make better decisions sooner

FDIC/7 How Do We Measure Success?  Improved data quality Legacy: 66% clean coming in CDR: 95% of data ‘clean’, some accepted with explanations - b anks include written explanations with submitted to explain data nuances Result: Expectations of data are documented, required, and met  All validity edits are met Legacy: 70% CDR: 100% Result: All data adds up accurately

FDIC/8 High Quality Data Earlier

FDIC/9 How Do We Measure Success?  Staff work per bank decreased Legacy: 450 to 500 banks per analyst CDR: 550 to 600 banks per analyst Results: less staff required to validate data  Financial Analysts finish assignments faster Legacy: 48 days after report date CDR: 41 days after report date Result: complete work faster  Result: Staff are responsible for more banks—require fewer staff—agencies save money

FDIC/10 Everyone is Reading the Same Data!  Taxonomy = authoritative source, used by all Rules for what data to report Relationships between data Presentation Report Instructions Data quality standards  Communication between all parties improved Banking agencies Call Report Software Vendors Financial institutions Back to Contents

FDIC/11 Additional information is available at: Additional Information Back to Contents