STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT INTEGRATION OF XBRL FOR THE COLLECTION OF STATISTICS: REDUCING THE REPORTING BURDEN ON MFI SIIF PROJECT - A SPANISH EXPERIENCE USING XBRL Manuel Ortega Head of the Central Balance Sheet Data Office Division, Banco de España President of the Strategy Committee, XBRL Spain XBRL PILOT TASK FORCE MEETING, Eurostat 27th September 2006

STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT 2 CONTENTS  XBRL: the standard for raw data collection  SIIF project at Banco de España  Other XBRL projects in Spain Reducing the reporting burden on monetary financial institutions

STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT 3 XBRL: THE STANDARD FOR RAW DATA COLLECTION Information processing - the need for a standard Perhaps you don't remember this far back…

STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT 4 XBRL: THE STANDARD FOR RAW DATA COLLECTION Information processing - the need for a standard … but you’ll probably be familiar with these. Why the change?

STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT 5 XBRL: THE STANDARD FOR RAW DATA COLLECTION One worldwide standard

STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT 6 XBRL: THE STANDARD FOR RAW DATA COLLECTION XBRL (XML): data with metadata embedded Information available for all respondents and users on:  Element content  Element names (several languages)  Cross-element calculation rules  Legal references (methodology) International non-profit consortium spreading standard

STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT 7 CONTENTS  XBRL: the standard for raw data collection  SIIF project at Banco de España  Other XBRL projects in Spain Reducing the reporting burden on monetary financial institutions

STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT 8 SIIF PROJECT AT BANCO DE ESPAÑA FOR MFIS Project outline:  2003: Pilot project to draw information from appraisal companies  2004: Project for leading and planning the deployment of XBRL in Banco de España, analyzing information flows and identifying chances to apply the standard  2004: Infrastructure for development and deployment of XBRL systems  2005: System for exchange of financial information (SIIF)  2006: New Basel Accord solvency information (COREP)  2006: Reserved Statements of Credit institutions (FINREP) SIIF: system for exchange of financial information

STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT 9 SIIF PROJECT AT BANCO DE ESPAÑA FOR MFIS  A taxonomy based on ifrs-gp for public statements: es-be-fs  An address to receive XBRL docs  Web-based help services provided: XBRL document validation XBRL document visualization Taxonomy visualization Library of taxonomies  A converter to translate from plain text format to XBRL offered to credit institutions Aim: improve efficiency and reduce reporting burden, coordinating supervisory and statistical information requirements SIIF: implementation

STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT 10 Front-end help services EAI Architecture I: Banco de España XBRL DOCS Statement fulfilment Access channel - Deciphering - Authentication - Access control Project-specific processing Host Reply Infrastructure, communication and security services SMTP MAIL Signed & ciphered - Validation - Activity recording - User reply - Translation to plain text Help services Fulfilment status DB XBRL DOCS Plain text XBRL web services PresentationValidation - Pre-validation - Visualisation - Fulfilment status query - Taxonomies Library HTTP HTTPS MFIS Banco de España

STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT 11 Architecture II: MFIS Back Office Data mart PLAIN TEXT FILES Public and reserved statements MFIS not yet included in SIIF project XBRL DOCS XBRL Converter XBRL DOCS PLAIN TEXT FILES Data mart PLAIN TEXT FILES Reserved statements Public statements Reserved statements MFIS using XBRL converter MFIS using XBRL directly Back Office

STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT 12 SIIF PROJECT AT BANCO DE ESPAÑA FOR MFIS  Since July 2005, seven major Spanish credit institutions have been sending public statements using XBRL  Some of these credit institutions already extract data in XBRL format directly from their systems  In June 2006, nearly all credit institutions started to send their public statements to Banco de España in XBRL  By end-2006, every credit institution (approx. 300 entities) will be filing public statements in XBRL SIIF: current situation

STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT 13 SIIF PROJECT AT BANCO DE ESPAÑA FOR MFIS  SIIF project experience shows us that implementing an XBRL-based solution is affordable at low costs  Providing converter and help services for validation and presentation are good practices which make information providers’ adoption of XBRL easier  XBRL is the right tool to define and implement robust interfaces between systems for exchanging financial information SIIF: conclusions

STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT 14 CONTENTS  XBRL: the standard for raw data collection  SIIF project at Banco de España  Other XBRL projects in Spain Reducing the reporting burden on monetary financial institutions

STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT 15 OTHER XBRL PROJECTS IN SPAIN  Banco de España – Central Balance Sheet Data Office: non-financial institutions – Balance of payments  INE (National Statistical Office): SBS statistics  CNMV (Spanish Securities Market Commission): quoted corporations  Mercantile registers: general identification data  IGAE (General State Comptroller): information submitted by councils  ICAC (national accounting body): general chart of accounts Other projects at Banco de España and at XBRL Spain

STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT THANK YOU FOR YOUR ATTENTION MANUEL ORTEGA