regulatory banking reporting at banco de españa
DESCRIPTION
Regulatory banking reporting at Banco de España. Some functions require the collection of data from credit institutions: Promotion of the stability of the financial system Preparation and publication of statistics Gathering data for the European Central Bank Process - PowerPoint PPT PresentationTRANSCRIPT
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Information Systems
Finance track: Banking
XBRL reporting process at Banco de España
Víctor Morilla
IT Specialist
20th XBRL International Conference
Rome21 April 2010
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INFORMATION SYSTEMS2
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Information Systems
Finance track: Banking
XBRL reporting process at Banco de España
Víctor Morilla
IT Specialist
20th XBRL International Conference
Rome21 April 2010
![Page 4: Regulatory banking reporting at Banco de España](https://reader030.vdocuments.mx/reader030/viewer/2022032605/56812b97550346895d8fb8c2/html5/thumbnails/4.jpg)
INFORMATION SYSTEMS4
Regulatory banking reporting at Banco de España
Some functions require the collection of data from credit institutions:– Promotion of the stability of the financial system– Preparation and publication of statistics– Gathering data for the European Central Bank
Process
– Regulation laws are published : definition of concepts required and its schedule
– Data is received and debugged through a validation process
– Clean data is available for analysts Some numbers
– More than 150 financial statements in use (more than 300 in total)
– About 40.000 different financial concepts defined– More than 28.000 quality checks defined– More than 100.000 statements processed per year
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INFORMATION SYSTEMS5
Commercial bank
Regulator
Implementation of a new regulation law (classic approach)
IT developerSystemrequirements
Regulation law
IT developer
Businessuser
IT analystSystem
requirements
C
Code
C
CodeIT analyst
Businessuser
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INFORMATION SYSTEMS6
Commercial bank
Regulator
Data filing and validation process (classic approach)
Data extraction
Errors detected
Analysisand corrections
Data extraction
Validation OK
Analysis
Notification
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INFORMATION SYSTEMS7
Complexity of the whole process
RegulatorSender
Sender
Sender
Sender
Sender
Sender
Sender
Sender
Sender
Sender
Sender
Sender
400 credit institutions
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INFORMATION SYSTEMS8
Commercial banks
Regulator
Implementation of a new regulation law (XBRL approach)
Businessuser
IT analyst
RegulationLaw
XBRLTaxonomy
Businessuser
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INFORMATION SYSTEMS9
Commercial banks
Regulator
Data filing and validation process (XBRL approach)
Data extraction& local validation
AnalysisAnd corrections
Analysis
Validation OK
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INFORMATION SYSTEMS10
XBRL Projects
AppraisalCompanies
SolvencyInformation
(COREP)Nº Participants: > 50Nº Filings/year: > 200Nº Concepts: > 950
Nº Participants: > 300Nº Filings/year: > 7000Nº Concepts: > 650
Nº Participants: > 300Nº Filings/year: ~1000Nº Concepts (EU): ~ 950Nº Dimensions (EU): 22Add. Concepts (ES): ~ 553Add. Dimensions (ES): 8 Sectorial
Statements(FINREP)
Nº Participants: > 300Nº Concepts (EU): ~ 1.700Nº Dimensions (EU): 12
Taxonomy development
2004
Public Statements(IFRS)
2006
2008
2009
2007
2010
2011
2005
Mutual guaranteeExchange offices
Nº Participants: > 300Nº Filings / year: > 1000
FINREP 2012COREP 2012
ECB BSI and MRIstatistics
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INFORMATION SYSTEMS11
XBRL Projects
AppraisalCompanies
SolvencyInformation
(COREP)Nº Participants: > 50Nº Filings/year: > 200Nº Concepts: > 950
Nº Participants: > 300Nº Filings/year: > 7000Nº Concepts: > 650
Nº Participants: > 300Nº Filings/year: ~1000Nº Concepts (EU): ~ 950Nº Dimensions (EU): 22Add. Concepts (ES): ~ 553Add. Dimensions (ES): 8 Sectorial
Statements(FINREP)
Nº Participants: > 300Nº Concepts (EU): ~ 1.700Nº Dimensions (EU): 12
Taxonomy development
2004
Public Statements(IFRS)
2006
2008
2009
2007
2010
2011
2005
Mutual guaranteeExchange offices
Nº Participants: > 300Nº Filings / year: > 1000 ECB BSI and MRI
statistics
FINREP 2012COREP 2012
Application / infrastructure
XBRLPrototype
Basic XBRLInfrastructure
SIIF System
XBRL Formulaintegration
Taxonomyviewer
Databasemigration
Analysis DBevolution
SIIF DimensionsEvolution
Multi-instancevalidation
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INFORMATION SYSTEMS
SIIF
12
Implementation
Financial Institutions Banco de España
SubmissionsManagement
Validation results
XBRL filings
MainData repository
XBRLTaxonomy
XBRL FormulaValidationProcess
Oth
er
ap
plicati
on
s
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INFORMATION SYSTEMS13
Implementation
Financial Institutions Banco de España
MainData repository
XBRLMetadata
Helper services
- Fulfilment state querying
- Pre-validation
- XBRL viewer
- XBRL on-line forms
- Taxonomy browsing
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INFORMATION SYSTEMS14
XBRL Projects
AppraisalCompanies
SolvencyInformation
(COREP)Nº Participants: > 50Nº Filings/year: > 200Nº Concepts: > 950
Nº Participants: > 300Nº Filings/year: > 7000Nº Concepts: > 650
Nº Participants: > 300Nº Filings/year: ~1000Nº Concepts (EU): ~ 950Nº Dimensions (EU): 22Add. Concepts (ES): ~ 553Add. Dimensions (ES): 8 Sectorial
Statements(FINREP)
Nº Participants: > 300Nº Concepts (EU): ~ 1.700Nº Dimensions (EU): 12
2004
Public Statements(IFRS)
2006
2008
2009
2007
2010
2011
2005
Mutual guaranteeExchange offices
Nº Participants: > 300Nº Filings / year: > 1000
FINREP 2012COREP 2013
ECB BSI and MRIstatistics
22.000 instance documents received10.000 validation rules defined 1.200 XBRL assertions needed60.000 errors detected
25.000 new validations rules(multiple instance validation)
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INFORMATION SYSTEMS
Former approach
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INFORMATION SYSTEMS
Conclusions
Better maintainability:Striking reduction in the number of rules to maintain (reduced to a 10%)
Validation rules expressed in business termsReusability between different actors
Regulators and credit institutionsDifferent countries:
European rulesDomestic ones
Data available sooner and improved qualityStandard and formal language to express formulaeCan be validated at the source of information
Poor understanding of XBRL by credit institutions
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