regulatory track ffiec central data repository: adding value to the data supply chain
DESCRIPTION
19 th XBRL International Conference “Reducing regulatory burden with XBRL: a catalyst for better reporting” June 22-25, 2009 Paris, France. Regulatory Track FFIEC Central Data Repository: Adding Value to the Data Supply Chain Alan Deaton, Federal Deposit Insurance Corporation June 25, 2009. - PowerPoint PPT PresentationTRANSCRIPT
Regulatory TrackFFIEC Central Data Repository: Adding
Value to the Data Supply ChainAlan Deaton, Federal Deposit Insurance
CorporationJune 25, 2009
Agenda Overview of the Call Report Overview of the Central Data Repository
(CDR) Value-added functionality
◦ Public Data Distribution◦ Uniform Bank Performance Report
XBRL for Bank Examinations◦ FDIC’s GENESYS application (Proof of Concept) for
bank supervision◦ Other FDIC applications
Overview of the Call Report All U.S. Banks and Thrifts are required by
the Federal Financial Institutions Examination Council (FFIEC) to file quarterly reports with their regulator as of the close of business on the last day of each calendar quarter◦ Federally Insured Banks file consolidated
Reports of Condition and Income (Call Reports)◦ Federally Insured Savings Institutions file Thrift
Financial Reports (TFRs)◦ Banks have 30 days to submit data unless they
have multiple foreign offices, then 35 days
Overview of the Call Report Approximately 7,500 filing entities as of
March 31, 2009 Approximately 1,200 financial concepts
reported by an entity Approximately 2,000 validation criteria
used to check quality Over 429 pages of instructions Call Report data available electronically
from as early as 1959 Since 1998, all banks have been required to
file Call Report data electronically
Overview of the CDR
Before the CDR and XBRL: Validation routines and formulas stored in and processed
by two systems (FRB, FDIC) Banks submit data after some minimal checks in their
software - inconsistencies between preparation software packages
Software vendors receive Call Report metadata from Excel, PDF, and Word documents – cut and paste into their software
Agency analysts would check data quality once files had been submitted and contact bankers with any questions – often 1-3 weeks after initial submission
Overview of the CDR Three banking agencies developed the
Central Data Repository (CDR)◦Used XBRL to define and transport data◦Data receipt◦Data validation◦Storage◦Distribution
CDR launched on October 1, 2005 Key policy change ~ pre-validation using XBRL Very Successful implementation
Overview of the CDRAfter the CDR and XBRL: FFIEC developed the XBRL-based CDR with Unisys
Corporation as systems integrator Metadata stored in XBRL taxonomy files now available
to anyone The same taxonomy files that contain validation
criteria the agencies use in the CDR are used in Call Report software vendor packages
Banks are required to check the quality of their data before submitting
Agencies do not accept data with quality problems Quality assurance work is done by reporters up front,
when it is more efficient
Overview of the CDR Validity – equations that must hold true or
the data is inaccurate Quality – data relationships that help
identify anomalies Reportability – identify what financial
concepts an entity should submit based on their structural or financial characteristics
Value-added Functionality Value Added Business & Performance
Metrics - Uniform Bank Performance Report (UBPR) ◦Capital Adequacy ◦Asset Quality◦Earnings◦Liquidity◦Growth Rates◦ Industry Standards
Regulatory International ~ Basel II
Value-added Functionality
UBPR◦Modify data by (+, -, /, *) ◦Apply functions (annualize, %change) ◦Consistently applied across
Data Industry Comparability
Value-added Functionality UBPR: in CDR as early as December
2009
Value-added Functionality Public Data Distribution: Leveraging
XBRL
https://cdr.ffiec.gov/public/
Value-added Functionality Public Data Distribution: Bulk Data
Value-added Functionality Public Data Distribution: Public Web
Service◦ Retrieve Panel of Reporters
Institution identifiers, simple structure data, and indicator whether data is available
◦ Retrieve filers since a given date List of institutions
◦ Retrieve facsimile PDF SDF XBRL
XBRL for Bank Examinations GENESYS Proof of Concept (POC)
◦General Examination System (GENESYS) – FDIC’s system for creating the Report of Examination
◦Current system relies on outdated technology
◦Current system must be manually updated each quarter Cannot look back to prior quarters Delivery of system is not timely
XBRL for Bank Examinations GENESYS Proof of Concept: Goals
◦ Enable web services◦ Retrieve taxonomy and bank data from CDR◦ Leverage taxonomy information internally
Formulas Presentation
◦ Real-time data retrieval, manipulation and analysis◦ POC could provide the basis for future internal
systems development: GENESYS Modernization Project in 2010 Other internal FDIC systems
La Fin