Business Registries, Capital Markets & Banking

Use of XBRL in Financial Markets Supervision in Spain

José M. Alonso - COMISION NACIONAL DEL MERCADO DE VALORES

ROMA, April 21,2010

Financial Reporting Supply Financial Reporting Supply Chain at the CNMVChain at the CNMV

Investors

DataVendors

OtherGovernmentEntities

CIIManagementFirms

OfficialRegisters&internalApplications

Website

Publications

CD-ROM & DVD

FTP

Issuers

Markets

Investmentfirms

SettlementEntities & CSD

CollectiveInvestmentSchemes

Use of XBRL in Financial Use of XBRL in Financial Markets Supervision in SpainMarkets Supervision in Spain

Agenda:

1. XBRL in listed companies supervision

2. XBRL in the supervision of investment firms

3. XBRL in Collective investment vehicles supervision

4. XBRL in the supervision of Securitization Funds

Use of XBRL in Financial Use of XBRL in Financial Markets Supervision in SpainMarkets Supervision in Spain

Agenda:

1. XBRL in listed companies supervision

2. XBRL in the supervision of investment firms

3. XBRL in Collective investment vehicles supervision

4. XBRL in the supervision of Securitization Funds

Issuers supervisionIssuers supervision

ListedCompanies

OfficialRegisters& internalApplications

ISSUER DATA Audit reports Significant corporate events Major holdings notifications Public Periodic Information (IPP) (Quarterly & semi-annual reports) Treasury stock information Annual Corporate Governance Report

ISSUE DATA Issuing prospectuses Listing prospectuses PO & TOB prospectuses Placement information Securitization information

IPP TaxonomyIPP TaxonomyThe IPP Taxonomy facilitates the listed companies’ regulatory reporting of Public Periodic Information to the CNMV.

Version 1.0 (June 2005) used between July 2005 and June 2008 to fulfil the requirements of the CNMV’s official letter published in January 2005

Version 2.0 (current version) has been started to be used on July 1st, 2008 to prepare the three models of report (Credit Institutions, Insurance companies, General) required in the new CNMV’s official letter published that year.Each model of report covers data on the individual entity and on its consolidated group, when the reporting entity is part of an economic group.With regard to the reference period for the data, there are two types of reports: quarterly and semi-annual report.

IPP TaxonomyIPP Taxonomy

IPP-COM

IPP-ENCIPP-SEGIPP-GEN

ES-BE-FSIFRS-GP

es-be-fs-roleses-be-fs-types

ifrs-gp-types

dgi-lc-intDGI-EST-GEN dgi-lc-es

dgi-types

Current status of IPP Current status of IPP filing(*)filing(*)

• 25,000 instances received at the CNMV and published on its website

• Submitted by 440 entities:269 issuers of instruments listed on Spanish markets179 Collective investment vehicles management firms that send the reports of almost 3000 investment institutions

and... an average of more than 20,000 XBRL reports downloaded every month from the CNMV website

(*) As of 31/3/2010

Use of XBRL in Financial Use of XBRL in Financial Markets Supervision in SpainMarkets Supervision in Spain

Agenda:

1. XBRL in listed companies supervision

2. XBRL in the supervision of investment firms

3. XBRL in Collective investment vehicles supervision

4. XBRL in the supervision of Securitization Funds

Investment firms supervisionInvestment firms supervision

Firms providinginvestment

services

Application for authorization &register

By-laws Services and/or Activities Shareholders & qualifying

holdings Management information Branches data Financial statements

(Monthly, Quarterly & annual report)

Information on solvency

Transactions reporting

OfficialRegisters& internalApplications

ES-BE-COREP TaxonomyES-BE-COREP Taxonomy

The CNMV decided to accept filing on risk and solvency with the taxonomy already used by the Bank of Spain.

ES_BE COREP is a Taxonomy developed by the Bank of Spain based on the COREP taxonomy.

The use of the same taxonomy facilitates the reporting of firms that have to file with the two regulators.

Since July 1st, 2009, a total of 158 investment firms are obliged to send XBRL solvency reports to the CNMV.

Use of XBRL in Financial Use of XBRL in Financial Markets Supervision in SpainMarkets Supervision in Spain

Agenda:

1. XBRL in listed companies supervision

2. XBRL in the supervision of investment firms

3. XBRL in Collective investment vehicles supervision

4. XBRL in the supervision of Securitization Funds

Collective investment Collective investment vehicles supervisionvehicles supervision

CollectiveInvestmentSchemes

Application for authorization &register

By-laws Fund prospectuses Qualifying holdings Corporate events Monthly Financial

statements Quarterly reports to mutual

fund shareholders

OfficialRegisters& internalApplications

IIC Taxonomy IIC Taxonomy Taxonomy developed by the CNMV for preparing the quarterly, semi-annual and annual reports described in the annexes of the 4/2008 CNMV’s official letter published in October 2008.These reports are a copy of the ones the Fund Management Companies have to make available to unit holders.

The entities obliged are:- Unit Trusts- Exchange Traded Funds- SICAVs

- Real Estate Funds and Real Estate Investment Companies

- Hedge Funds

IIC Taxonomy IIC Taxonomy

iic-com

Común Global

iic-com-fon

Común Fondos

iic-com-soc

Común Sociedades

dgi-est-gen

iic-ges

Comparativo

iic-fimInversión

Mobililiaria

iic-fiiInversión

Inmobililiaria

iic-ficInversión Cotizado

iic-filFIL y FI de IICIL

iic-sic

SICAV

iic-siiInversión

Inmobiliaria

dgi-lc-es

dgi-lc-int

dgi-types

SIL y SICAV de IICIL

iic-sil

165 fund managers have to send the quarterly reports of more than 6,000 Collective Investment Vehicles to the CNMV.

More than 24,000 XBRL files per year.

Use of XBRL in Financial Use of XBRL in Financial Markets Supervision in SpainMarkets Supervision in Spain

Agenda:

1. XBRL in listed companies supervision

2. XBRL in the supervision of investment firms

3. XBRL in Collective investment vehicles supervision

4. XBRL in the supervision of Securitization Funds

Issuers supervisionIssuers supervision

ListedCompanies

OfficialRegisters& internalApplications

ISSUER DATA Audit reports Significant corporate events Major holdings notifications Public Periodic Information (IPP) (Quarterly & semi-annual reports) Treasury stock information Annual Corporate Governance Report

ISSUE DATA Issuing prospectuses Listing prospectuses PO & TOB prospectuses Placement information Securitization information

XBRL in the supervision of XBRL in the supervision of Securitization FundsSecuritization Funds

FTA TaxonomyTaxonomy developed by the CNMV to facilitate the

accomplishment of the reporting obligations for securitization vehicles established by the CNMV in its 2/2009 CNMV’s official letter.

For each of their funds, the securitization entity management companies have to submit to the regulator:- Annual and semi-annual financial statements (Balance sheet & Income statement)- Quarterly statistical reports with data on financial transactions and write-offs/write-downs on the assets and liabilities of the fund and details on the fund units or other financial instruments issued by the fund- Audit reports

FTA TaxonomyFTA Taxonomy

dgi-lc-es

dgi-lc-es

dgi-lc-int

dgi-lc-int

dgi-typesdgi-types

fta-comfta-comfta-s00fta-s00 fta-s06fta-s06

s05_1s05_1

s05_2s05_2

s05_3s05_3

s05_4s05_4

s05_5s05_5

fta-com-est

fta-com-est

fta-t01fta-t01

fta-t03fta-t03

fta-t04fta-t04

fta-st0fta-st0

fta-s01fta-s01

fta-tt0fta-tt0

fta-s05fta-s05

fta-at0fta-at0

fta-s04fta-s04fta-s02fta-s02

fta-s03fta-s03

dgi-est-gen

dgi-est-gen

fta-t02fta-t02

fta-typesfta-

types

Currently, every three months, eight fund management companies have to file with the CNMV the XBRL reports of more than 600 funds.

(4,200 reports per year)

Access to the XBRL sectionAccess to the XBRL sectionwww.cnmv.es

Thank you

Jose M. Alonsoalonso@cnmv.es