EuroFiling project Semantic interoperability in primary financial reporting

222 Basel II, IFRS/IAS … EC 2006/48 & 49 … Coutry 1 NSA 1 Report 2 Report Report Country3 Country 2 Country 27 NSA 2 NSA 3 NSA 27 Report Report National Transposition 9X,XX% Directive + National flavor European Directive 9X,XX% best practices + UE flavor National Supervisory Authority 9X,XX% Law + Implementation flavor Challenge! Global Standard Report Report (…)

3 Reporting before… and after… Supervisor 1 Supervisor 3 Supervisor 2 Different templates and definitions Common templates and definitions Several formatsSingle format Different technologiesIT standards Supervisor 1 Supervisor 2 Supervisor 3 Group A Group B Group C Group A, B, C Common framework 2010/78/EU Omnibus Directive

444 4 Detailed Recommendation on the Financial Services Priority Area Harmonise the use of XBRL for prudential reporting 31st March 2009 EU PROJECT ON BASELINE MEASUREMENT AND REDUCTION OF ADMINISTRATIVE COSTS

555 Source: Gartner. (March 2010)

666 EuroFiling reference implementation model Bank IT Banking Operations Counterparties Collateral … Instance Supervisor IT Supervision Reports Other data … Presentation, Analysis… Bank operations, controls…. Basel II IFRS to XBRL from XBRL Basel II IFRS File Transfer (National) XBRL (Europe) XBRL (National) Errors Internet National implementation Europe Institution Consultants Vendors Institution Consultants Vendors Didactic model for explanatory purposes only Supervisors Instance INDUSTRY

777 EU + XBRL EU + Privative

888 Academic research: Countries using XBRL e-commerce - EU Enlargement GDP total & per head + + %R+D + + -

XBRL Operational Network Ignacio Boixo, Coordinator