1 Paris – 22nd June, 2009 Sebastián Muriel President (XBRL Spain) General Manager (red.es) International Steering Committee Spanish Jurisdiction

2 Spain is considered to be ahead of the XBRL development due to the efforts fulfilled by the public and private sector. The Public Organizations and Regulatory Councils which have lead the establishment of XBRL in Spain are: - Bank of Spain -CNMV: National Share Market Commission Bank of Spain CNMV XBRL in Spain: Strategy

3 Traditionally, business that have been more active in XBRL are the most regulated sectors, especially the companies listed on the national stock exchange: -All the companies included in the IBEX 35 index report their quarterly statements using XBRL to the CNMV since July Most of the Spanish private banks use XBRL for their reporting. e.g. SCH, BBVA, Banco Popular, Caja Madrid, etc. Bank of Spain CNMV IBEX 35 Financial Institutions XBRL in Spain: Strategy

4 So far, major economic institutions and main financials companies have boost/encouraged the initiative of the XBRL implementation. There is an opportunity to move the experience of XBRL into: -Local Government -Small and Medium enterprises (SMEs) Banco de España CNMV IBEX 35 Financial Institutions SMEs Local Government XBRL in Spain: Strategy Red.es is a government owned company assigned to the Ministry of Industry, that works closely with the public and private sector, in order to achieve the development and promotion the non-discriminatory use of the Information Society in Spain

5 The spanish public administration framework 17 Regional Governments 2 Autonomous cities 50 Provinces Local Entities Banco de España CNMV IBEX 35 Financial Institutions SMEs Local Government PUBLIC PROMOTION ON MASSIVE XBRL USE FOR LOCAL GOVERNMENT FINANTIAL REPORTING

6 XBRL in local budget reporting

7 XBRL in local budget reporting Web form Excel XBRL

8 New GAAP (PGC 2007) On February 10th, it was published in BOE JUS/206/2009 the order on the presentation of annual accounts under the new GAAP (PGC 2007) Banco de España CNMV IBEX 35 Financial Institutions SMEs Local institutions It is mandatory to use XBRL as the STANDARD FOR DIGITAL PRESENTATION OF FINANCIAL STATEMENTS Either through physical presentation on computer records in the telematics business presentation or by electronic signature We have developed open source APIs for main ERPs that are used by most of SMEs in Spain (INTECO – Ministry of Industry) (both java and command line)

9 New GAAP (PGC 2007) /descargas/api_xbrl_pgc2007/

10 Financial entities Mercantile Register FINANCIAL STATEMENTS Now PGC 2007 Balance The financial statements are generated one time in the same format (XBRL) SMEs

11 CSR with XBRL CSR (Corporate Social Responsibility) lacks of a minimum of clarity, is too industry-specific and the format in which it is based is not suitable to comparisons A double solution: –Semantic agreement –Digital format

12 CSR with XBRL (taxonomy)

13 CSR with XBRL: 1st real example

14 XBRL in Latin America The Spanish Ministry of Foreign Affairs has approved the application for XBRL Spain to lead a training course in XBRL with the AECID (Spanish Agency for International Development) in La Antigua (Guatemala) On-line course of Interactive Data for Financial Supervision: this course is aimed at providing introductory knowledge on interactive data in XBRL language and its applications for financial sector supervision

15 Thank you !!.. any questions ?? XBRL Spain Tef (+34) ext Fax: (+34) Plaza Manuel Gómez Moreno, Edificio Bronce, 7ª Planta Madrid