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 31 December 2014 onwards and will be used for the first reports on asset encumbrance and funding plans. 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 and asset encumbrance reporting structures so as to be more in line with the recently published ITS amendments, as well as the new reporting structures for funding plans.
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 31 December 2014 onwards are to use the new taxonomy set (2.2), which is related to the July 2014 framework release. Therefore, remittance of asset encumbrance and funding plan reports to the EBA will have to be done using this taxonomy version.
The existing taxonomy set version (2.0.1) related to the September 2013 framework release is to be used for remittance to the EBA of reports with reference dates prior to 30 September 2014.
Remittance of reports with reference dates between 30 September 2014 and 30 December 2014 are to use the existing taxonomy set version (220.127.116.11) related to the March 2014 framework release. Remittance of FINREP reports will start using the 18.104.22.168 taxonomy set.
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 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.
This XBRL taxonomy has been developed using the final draft Implementing Technical Standards (ITS) published on 30 July 2014. The draft ITS will amend the Commission's Implementing Regulation (EU) No 680/2014 on supervisory reporting under Regulation (EU) No 575/2013 of the European Parliament and the Council. These amendments are expected to be applicable for reporting as of December 2014.
The taxonomy is also based on the EBA Guidelines on harmonised definitions and templates for funding plans of credit institutions, for the purposes of ensuring compliance with paragraphs 1–5 of Recommendation A of the European Systemic Risk Board (ESRB) Recommendations of 20 December 2012 on funding plans of credit institutions (‘ESRB Recommendations' and ‘ESRB Recommendation A').