1. The Yellow Brick Road of XBRL Adopting the XBRL Data Standard, Separating Practice from Theory Jon Wisnieski November 5, 2003

2. The Setting  Three federal regulators  similar but separate requirements and responsibilities  8,300 banks nationwide  Quarterly financial data  Collected, validated, analyzed and distributed  Cycle that takes 60+ days

3. The Business Objectives  Decrease the time spend  Decrease the cost of data collection  Adopt open standards to increase industry transparency  Create a flexible system  Leverage private sector strengths and relationships

4. Essential Elements of the Solution  Develop a comprehensive data repository—one system of record  Create an extensible platform, shared by the FDIC, OCC and FRB  Adopt XBRL standards to facilitate the movement of data  End our legacy application approach  3 rd party hosting of a shared facility  Re-engineer business processes to leverage automation

5. Some Project History  Collaborated with multiple stakeholders from the start:  Interagency discussions  Industry Roundtables  Request for Information (RFI)  Formed interagency Steering Committee  what was needed, but not the “how”  Request for Proposal (August 2002)

6. Today’s Picture  Unisys Corporation—design, build and maintain  Aggressive schedule  Established industry focus groups  Leveraged industry experts  XBRL  Software vendors,  Industry trade groups

7. Project Status  Requirements have been defined and documented  Programming is underway  Industry-based focus groups have been convened  First functional pilot anticipated by early 2004  Implementation and processes by 4 th Quarter 2004

8. Bridges We Had to Get Over  “But this is the way we always do it”  “Why can’t we build it ourselves?”  Who will own/run/pay for this thing?  XBRL – new, risky, why be one of the first?  Plenty of proposals – which was best?  Exactly what do we want?  Are we sure we want that?

9. Bends in the Road  Nailing down the costs, and business case  Designing, developing and confirming the taxonomy  Conducting reality checks with major stakeholders  Adding new resources and bringing them

10. Transition from Concept to Production  Developed a proof of concept  Developed a detailed Request for Proposal  Bid conferences to solicit and answer bidder questions, and refine the vision  Carefully evaluated proposals  Established comprehensive project team to guide the contractors’ work

11. Early Decisions  Prove the model  Take a ten-year view  Let the industry propose the “how”  Let the government specify the “what”  Advanced analysis and taxonomy

12. Why the Call Report?  Foundation data for bank’s  8,300 institutions report quarterly  Multiple usages  Data structures are well-documented  2,000+ data fields  1,500 validation edits agreed upon and published  500 pages of Instructions  25 Schedules  2 Call Report Forms

13. Why XBRL?  Open Standards  Promotes effective data exchanges  Lower long-term costs  Efficiencies,  Improved data quality  Timeliness  Business rule based  XBRL frameworks are extensible

14. Impact on the Agencies  A centralized data storage and processing facility  Shared costs and management  Meta-data published in XBRL format  Expedited data publication  Enhanced interagency standards for data quality  Agreement on what constitutes “Quality”  Publishing criteria which banks are accountable

15. Impact on the Banks  Elimination of paper-based report requirements  Use of a standard meta-data set  Emphasis on validating data prior to submission  Internet delivery of data to the repository  Increased awareness and potential for XBRL

16. Culture Shifts  Create a shared enterprise  Emphasize data, not forms  Shift from proprietary standards to open standards  Move toward electronic exchange model  Adopt an industry-wide

17. Need for Industry Coordination  Close coordination with XBRL International  Active participation from banks  Early and intensive consultation with intermediaries  Engage in dialogue with industry associations

18. Future Vision for Regulatory Reporting  Build extensible platforms  Adopt solutions that are language and platform neutral  Emphasize reuse of data  Collect it once, use it many times  Coordinate efforts among regulators  Expand the use of XML-based standards

19. What is the Potential?  Common data across reporting boundries  Tax reporters  SEC filings  Census  Compliance reports to regulators  Straight-through processing  Communal repository on the net

20. Stating the Obvious (our lessons learned)  Carefully craft and hold the vision  Human factor  Accommodate research and development time  Be selective about what you bite off  Discuss and define potential risk  Be ready for disappointments – and celebrate every step forward

21. CDR XBRL Focus Group  Friday  2:30 til 4:30  @PwC  1420 5 th Ave  Between Pike St. and Union St.

22. Questions?