The European Banking Authority (EBA) published today a new XBRL taxonomy to be used by competent authorities for remittance of data under the EBA Implementing Technical Standards (ITS) on supervisory reporting. The new taxonomy will have as reference date 30 June 2015 onwards and will be used for the first reports on additional liquidity monitoring metrics and supervisory benchmarking. The new taxonomy presents the data items, business concepts, relations, visualisations and validation rules described by the EBA Data Point Model (DPM) which are contained in the ITS on supervisory reporting and in the EBA Guidelines on definitions and templates on funding plans.
The updated taxonomy incorporates corrections to the COREP, FINREP, asset encumbrance and funding plans reporting structures, as well as the new reporting structures for additional liquidity monitoring metrics and supervisory benchmarking.
The following documents have been published today:
The set of XML files forming the XBRL taxonomy
A description of the architecture of the XBRL taxonomy
The DPM of which the taxonomy is a standardised technical implementation, including both database and document representations, along with a description of the formal modelling approach on which it is based.
Reports with reference dates as of 30 June 2015 onwards are to use the new taxonomy set (2.3), which is related to the March 2015 framework release. Therefore, remittance of additional liquidity monitoring metrics and supervisory benchmarking reports to the EBA will have to be done using this taxonomy version.
The existing taxonomy set version (2.2) related to the July 2014 framework release is to be used for remittance to the EBA of reports with reference dates prior to 30 June 2015.
Background and legal basis
The taxonomy defines a representation for data collection under the reporting requirements related to own funds, financial information, losses stemming from lending collateralised by immovable property, large exposures, leverage ratio, liquidity ratios, asset encumbrance, additional liquidity monitoring metrics, supervisory benchmarking and funding plans. As part of enhancing regulatory harmonisation in the EU banking sector and facilitating cross-border supervision, uniform data formats are necessary to enable comparable data on credit institutions and investment firms across the EU.
Although the EBA XBRL taxonomy was primarily developed for data transmission between competent authorities and the EBA, many authorities have been using it for the collection of supervisory reporting from the credit institutions and investment firms they supervise. In this respect, the taxonomy proposed by the EBA will lead to greater efficiency and convergence of supervisory practices across Members States. In addition, it will facilitate the supervisory process, allowing supervisors to identify and assess risks consistently across the EU and to compare EU banks in an effective manner.