Finance Track: Banking Eurofiling initiative: Harmonized and streamlined Banking Supervision Ignacio Boixo This project can under no circumstances be regarded.

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Presentation transcript:

Finance Track: Banking Eurofiling initiative: Harmonized and streamlined Banking Supervision Ignacio Boixo This project can under no circumstances be regarded as reflecting the policies of the European Union This project is made possible with the financial assistance of the European Union

Basel II, IAS/IFRS … EC 2006/48 & 49 … Country 1 Sup 1 Report 2Report Country 3Country 2Country 27 NCB 2FSA 3Sup 27 Report Report National Regulation Transposition into national Legislation European Law 9X,XX% best practices + EU requirements National Implementation XBRL challenge! Global best practices

European Collaborative Framework Weekly Conf. Call list 300+ Workshops: 11 editions 70 attendees each Website, News & Communication Core Team: Supervisors BE, DE, ES, FR, IT, LU... + Non Supervisors Budget: : 0 /year : 60,000 /year

PdAssignedObligorGrade2.365,00 OriginalExposurePreConversionFactors4.568,00 OfWhichArisingFrom1.234,00 Guarantees4.787,00 CreditDerivatives1.234,00 OtherFundedCreditProtection9.564,00 TotalOutflows1.264,00 TotalInflows8.545,00 Institutions Yes Total Exposures On Balance Sheet

COREP and FINREP both represent EU Directives by way of a framework of instructions and tables comprising: A set of cells A set of breakdowns The set of valid combinations of cells and breakdowns (facts) The first step from an IT point of view is normalize (in the IT sense) the framework of tables into a formal data model. The formal data model is NOT linked with any specific format (CSV, XML, Flat File, XBRL, OWL…) multidimensional data model

CEBS frameworks Data models CEBS XBRL ON analyses both frameworks - identification of the differences - provision of recommendation - query for solutions to the COREP and FINREP ON

Differences in COREP and FINREP COREPFINREP

Both frameworks are published by a common organisation Supervision corporate identity, Eases the comprehension for banking institutions implementing both frameworks, Eases the comprehension of IT departments and software vendors dealing with both frameworks, If one framework is known, the other framework shall be intuitively understood, Prevents organisational risks by misinterpretations of structural definitions, Data formats are also being harmonised.

Same meaning of cell colours grey colour criss crossed yellow colour unique definition of positive or negative numbers unique location for clarifications unique location for references unique numbering system unique presentation of validation rules UNIFICATION

Initial approval of new IT architecture for FINREP and COREP taxonomies Free attendance, please register at