15 December 2006
The Committee of European Banking Supervisors (CEBS) is today publishing a new release of the Guidelines on Financial Reporting (FINREP). These guidelines are intended to be used by credit institutions when preparing prudential reports to be sent to any European Union Supervisory Authority according to the IAS/IFRS endorsed by the European Commission.
The need for this new version arose during the development of the XBRL FINREP taxonomy that supports the reporting of these Guidelines. Moreover, it was also identified that some additional guidance was needed in some templates to determine more correctly the content of the item.
These revised guidelines formally replace the FINREP version of December 2005. The XBRL-taxonomy which supports FINREP will be modified accordingly.