The European Banking Authority (EBA) published today an update to the XBRL taxonomy that Competent Authorities shall use for the remittance of data under the EBA Implementing Technical Standards (ITS) on supervisory reporting. The revised taxonomy will be used for reports on funding plans and supervisory benchmarking regarding reference dates of 31 December 2014 onwards.
The updated taxonomy incorporates corrections to the funding plans and supervisory benchmarking reporting structures and specifies how separate variants of the reports shall be used for the remittance of individual and consolidated data.
The following documents have been published today:
A 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 a database and document representations, along with a description of the formal modelling approach on which the DPM is based.
Additional guidance for the COREP reporting of Own Funds modules under 2.3/2.3.1
The remittance of reports for funding plans and supervisory benchmarking is to use the new taxonomy set (2.3.1), which is related to the March 2015 framework release. This is a slight incremental modification of the previously published 2.3 taxonomy, affecting only the funding plans and supervisory benchmarking reports. Therefore, the remittance of COREP, including additional liquidity monitoring metrics, FINREP, and asset encumbrance for reference dates of 30 June 2015 onwards will continue using the report structures as defined in the 2.3 taxonomy (which are also included in this 2.3.1 package).
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.