Comments on the Consultation Paper on the XBRL Taxonomy related to the EBA ITS on Supervisory Reporting
The Swedish Supervisory Authority, Finansinspektionen, has decided that the Swedish banks shall use XBRL to report the EBA Supervisory Reporting electronically to Finansinspektionen. The XBRL Taxonomy from EBA is therefore important to the Swedish banks in their work to prepare for the new EBA Supervisory Reporting.
In the Consultation Paper on the XBRL Taxonomy, EBA writes that a final version of the XBRL Taxonomy will be produced after the final versions of the ITS on Supervisory Reporting has been published and feedback on the consultation have been taken into account. The time for implementation of the Supervisory Reporting in 2014 is very short and the Swedish Banks have to plan very carefully to be ready in time for the first reporting. The Swedish Bankers’ Association would therefore stress that the final XBRL Taxonomy should be published in good time for the banks to implement the reporting and that it would facilitate the implementation process for the banks if EBA publishes a date of publication of the XBRL Taxonomy. It is also important that the final Data Point Model, DPM, is published in good time for implementation and in connection with the XBRL Taxonomy.