Brief history of XBRL usage in Banco de españa

XBRL Projects Reporting requirements FINREP 2012 COREP 2012 Nº Participants: > 300 Nº Filings / year: > 1000 ECB BSI and MRI statistics Nº Participants: > 300 Nº Concepts (EU): ~ 1.700 Nº Dimensions (EU): 12 Mutual guarantee Exchange offices Nº Participants: > 300 Nº Filings/year: ~1000 Nº Concepts (EU): ~ 950 Nº Dimensions (EU): 22 Add. Concepts (ES): ~ 553 Add. Dimensions (ES): 8 Sectorial Statements (FINREP) Nº Participants: > 300 Nº Filings/year: > 7000 Nº Concepts: > 650 BSI Statistics (balance sheet of the monetary financial institutions sector statistics)   MIR Statistics (monetary financial institutions interest rate statistics) Solvency Information (COREP) Nº Participants: > 50 Nº Filings/year: > 200 Nº Concepts: > 950 Public Statements (IFRS) Appraisal Companies 2004 2005 2006 2007 2008 2009 2010 2011 2012

XBRL Projects Taxonomy development Application / infrastructure FINREP 2012 COREP 2012 Taxonomy development Application / infrastructure XBRL Prototype Basic XBRL Infrastructure SIIF System XBRL Formula integration Taxonomy viewer Forms Database migration Analysis DB evolution SIIF Dimensions Evolution Nº Participants: > 300 Nº Filings / year: > 1000 ECB BSI and MRI statistics Model editor Nº Participants: > 300 Nº Concepts (EU): ~ 1.700 Nº Dimensions (EU): 12 Mutual guarantee Exchange offices Nº Participants: > 300 Nº Filings/year: ~1000 Nº Concepts (EU): ~ 950 Nº Dimensions (EU): 22 Add. Concepts (ES): ~ 553 Add. Dimensions (ES): 8 Sectorial Statements (FINREP) Nº Participants: > 300 Nº Filings/year: > 7000 Nº Concepts: > 650 Solvency Information (COREP) Nº Participants: > 50 Nº Filings/year: > 200 Nº Concepts: > 950 Public Statements (IFRS) Appraisal Companies 2004 2005 2006 2007 2008 2009 2010 2011 2012

System for the Exchange of Financial Information –REPORTING PROCESS Banco de España Financial Institutions System for the Exchange of Financial Information –REPORTING PROCESS XBRL filings SIIF Main Data repository XBRL Metadata XBRL Formula Validation Process Submissions Management Other applications Validation results Formula Validation ** Xwand: Server: 4 server licenses: 5,000 euros / per server Client: 1.500 € per desktop Developer: 8.000 € per desktop Translation tool CORENET + EXDI Helper services Fulfilment state querying Pre-validation XBRL viewer XBRL on-line forms Taxonomy browsing Conversion tool Multi-channel / Multi-protocol Communication architecture

Benefits of XBRL

Implementation of a new regulation law (classic approach) Supervisor Business user IT analyst IT developer System requirements C Code Regulation law Commercial bank Business user IT analyst System requirements IT developer C Code

Data filing and validation process (classic approach) Supervisor Analysis Errors detected Notification Validation OK Commercial bank’s systems are debugged during the first reporting months !!! Data extraction Data extraction Commercial bank Analysis and corrections

Implementation of a new regulation law (XBRL approach) Business user IT analyst Supervisor Regulation Law XBRL Taxonomy Commercial banks Business user

Data filing and validation process (XBRL approach) Supervisor Analysis Validation OK Data extraction & local validation Commercial banks Analysis And corrections

The business INFORMATION reporting CHAIN

The business reporting reality Transaction data Multiple departmental Excel spreadsheets Consolidated spreadsheets for management

COMPLETE AUTOMATION OF THE REPORTING PROCESS No manual intervention Long term BENEFITS COMPLETE AUTOMATION OF THE REPORTING PROCESS No manual intervention Traceability of data gathered by supervisors

STABILITY OF THE REPORTING PROCESS Changes should have a minimum impact Concept identification must not change because of: Changes of naming conventions at business level (or just a correction) A concept is moved from a table to another A concept is kept from an old version in a new one Examples: Common dictionary of concepts Abstract codification

Don’t leave the STANDARD path Avoid using the standard as a proprietary solution Avoid constraints that are not supported by business requirements Don’t move to XBRL taxonomies limitations in inner systems You are not alone

QUESTIONS?

Lessons learnt

MARKET TOOLS VS IN-HOUSE DEVELOPMENTS Less flexibility Solutions ready sooner Lower maintenance costs More stability Consider costs of integration In-house developments More control Internal dependencies Slow evolution TCO

TOOLS assisted by METADATA Model editor Data warehouses Taxonomy viewer METADATA (taxonomy repository) Publishing system (2013) Instance editor Extraction for statistics Validation system Submission to EBA

Should NSAs provide supporting tools? NO If there is demand, the market will provide solutions There is no such a thing as a “small” bank (appraisal companies example) YES Reduces the resistance to changes Increases internal costs Unfair competition against the market Discourages investments by credit institutions

Representation in International Groups International Accounting Standards Committee Foundation XBRL Advisory Council (XAC) XBRL Quality Review Team (XQRT) XBRL International Standards Board Best Practices Board Abstract Model Task Force API Signatures Task Force Formula Working Group Rendering Working Group Specification Working Group