1. 1 XBRL for Belgian supervisory banking reporting Giancarlo PELLIZZARI Attaché, Banking, Finance and Insurance Commission

2. 2 Introduction IAS/IFRS create a unique opportunity to converge and ultimately harmonise prudential reporting in Europe, using IAS/IFRS as the basis for a common prudential reporting framework

3. Banking, Finance and Insurance Commission 3 CBFA project : financial reporting Project started in May 2003. Limited to IAS/IFRS financial reporting. Consolidated basis. Based on Word and Excel tables, with extensive references to IAS/IFRS having an XBRL taxonomy in mind. The final version published in the first quarter of 2005.

4. Banking, Finance and Insurance Commission 4 XBRL After evaluation of different possibilities, XBRL was considered as the best solution in a IAS/IFRS environment because :  Current reporting standard is XML (in a standardized environment)  XBRL handles non standardized financial reporting formats  taxonomies are available  easily extendable to meet specific supervisory needs  It makes the transition to IAS/IFRS easier. XBRL is a logical step when using XML

5. Banking, Finance and Insurance Commission 5 Timetable 30/03/05: IFRS Reporting scheme published  Dialogue with the sector: "Go for XBRL!" "But give us the taxonomy before 31/07/05!"

6. Banking, Finance and Insurance Commission 6 Timetable 30/03/05: Reporting scheme published 26/04/05: Approval Board (NBB) 03/05/05: Approval Board (BFIC) 20/05/05: Invitation consultants 10/06/05: First meeting consultants 01/07/05: Working draft taxo published  Charlie Hoffman's comment: "Change Approach!" ==> Consistent with COREP (anticipate dimensions)

7. Banking, Finance and Insurance Commission 7 Timetable 30/03/05: Reporting scheme published 26/04/05: Approval Board (NBB) 03/05/05: Approval Board (BFIC) 20/05/05: Invitation consultants 10/06/05: First meeting consultants 01/07/05: Working draft taxo published 12/08/05: Revised working draft published ==> Incl. Filing Guide and Instance Document

8. Banking, Finance and Insurance Commission 8 What’s next ? September 2005 : Publication of the Belgian extension of the IASCF IFRS-GP taxo. January 2006 : First implementation of XBRL in Belgium (financial reporting only). January 2006 : Extension FINREP 31 March 2006 : First effective reporting using XBRL. Year 2007 : COREP implémentation.

9. Banking, Finance and Insurance Commission 9 Links with FINREP Content is 90% the same IFRS-GP BE taxo FINREP taxo IFRS-GP FINREP taxo BE taxo Advantages of a FINREP taxo

10. Banking, Finance and Insurance Commission 10 Conclusion All what is needed for using XBRL is available. XBRL handles free layout and allows for standardised reporting analysis. More and more taxonomies are being developed. Efficiency tool : reconcile supervisory demand with industry concern on additional burden