XBRL IN SPAIN

Federico Flórez

CIO - Bank of SpainManaging Director XBRL España

Global markets XBRL Spain Goal Main initiatives Latinoamerica approach Conclusions

AGENDA

Flexible and integrated System

Reporting and standard Systems

Efficiency

IFRS and Basel II

Anti-Money Laundering Systems

Business continuity

XBRL Spain Goal Main initiatives Latinoamérica approach ConclusionsGlobal Markets

Standards systems

Normalization and standardization provide processes homogenization and communications systems of the credit organizations.

Barrier created for the technological dependence by the owners of the systems are removed.

Establishment of standards in local systems provides the incorporation of foreign investors.

Local reliable systems, with high level of security and continuity, guarantee an efficient operating and minimize the risk.

XBRL Spain Goal Main initiatives Latinoamérica approach ConclusionsGlobal Markets Conclusions

Objectives : Transparency, efficiency

All the stakeholders of the reporting process

Implement projects

XBRL is a Country Project

XBRL Spain Goal Main initiatives Latinoamérica approach ConclusionsGlobal Markets Conclusions

Consolidate XBRL Spain

Increase number of members

Taxonomies Development

Spread XBRL standard

Promote activities with Latinoamerica

OBJECTIVES

XBRL Spain Goal Main initiatives Latinoamérica approach ConclusionsGlobal Markets ConclusionsXBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

General Meeting

President

Strategic Commission

AuditCommittee

General Secretary

Facilitator

Board

Consultancy & Mediation

Marketing & Communication

Management &

Secretary

Accounting

Basel II

Taxonomies

Technology

Development & Training

Vicepresident

ORGANIZATIONAL CHART

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

FOUNDER MEMBERS

April 2004

10

CURRENT MEMBERS

December 2006

48

OBJECTIVES

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

XBRL is a country project. That means :

Institutional support

Public members

Senate motion

Private support

University

Audit participation

IT support

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

Dirección General de Coordinación Financiera con las Entidades Locales

Institutional Support: Public members

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

Institutional Support: Senate motion

MOCIÓN

Es por lo que el Senado insta al Gobierno a:

1º- Impulsar el estándar abierto XBRL, en el marco de la presente legislatura, en colaboración con las Comunidades Autónomas y Corporaciones Locales que lo deseen, así como con el sector privado, en la aplicación de dicho formato, de forma progresiva, en los distintos ámbitos de su responsabilidad.

2º- Encomendar por el Gobierno a una Entidad o Consorcio de Entidades para que, en el plazo de seis meses, pueda efectuar el desarrollo, control y homologación de las taxonomías necesarias en función de la normativa contable nacional y europea que permitan la actualización tecnológica del lenguaje financiero de las empresas españolas y de las distintas administraciones públicas

Aprobada por unanimidad la moción insta al Gobierno a impulsar el estándar abierto XBRL

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

Private support

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

University

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

Audit participation

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

IT support

1.1. Taxonomies building and implementation Taxonomies building and implementation

2.2. Education Education

3.3. Center of excellenceCenter of excellence

4.4. Medium and small companiesMedium and small companies

5.5. CommunicationCommunication

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

1. Taxonomies building and implementation

Spain in European and Global taxonomies Done / Developing

DGI Global Common Document Mercantile Registry

COREPCommon Reporting

Committee of European Banking Supervisors

Basel II

FINREPFinancial Reporting

Committee of European Banking Supervisors

IFRS

CBSO-RFBalance Sheet

European Committee of Central Balance Sheet Data Offices (III WG)

IFRS

FLIPACredit Risk Assessment

International Credit Insurance & Surety Association

CRAS

EBR Enhanced Business Report. University Huelva

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

1. Taxonomies building and implementation

2005-2007 Spanish Taxonomies Done / Developing

IPP Public Periodic Information Stock Exchange Sup.

PGC90 GAAP 1990 ICAC (Government)

SST Property Appraisal Companies

Bank of Spain

ES-BE-FS Financial Information Exch. Bank of Spain

ES-BE-CBx Central Balance Sheet Bank of Spain

SEPBLAC Anti Money Laundering Bank of Spain

BP Balance of Payments Bank of Spain

IGAE Public Sector Accounting Gov. Accounting

INE Structural Statistics Nat’l Statistics Institute

RSC Corp. Social Responsibility AECA (Accountants)

LENLOC Rendering of Accounts Local Entities Superv.

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

1. Taxonomies building and implementationCorporate Social Responsibility

Vision: Reporting on economic, environmental, and social performance by all organizations becomes as routine and comparable as financial reporting.

The standard will provide a company with a system to ensure it is properly monitoring its social responsibility.

ISO-26000: Designed as a guide to help businesses understand where their responsibilities to various stakeholders begin and end.

Initiative of the Spanish Association of Accounting and Business Administration (AECA). XBRL taxonomy on development

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

2. Education

- E-learning for Stock Exchange Supervisors in Latin America

- 1st Edition: April 2007

- Centre of e-learning for the Economic and Technological Development: Foundation baked by the Spanish Ministry of Treasury

- IberAmerican Institute of Stock Markets

- Organized by the Spanish Stock Exchange Supervision

- 6 XBRL modules of 1 week: 4 generic, 2 specific

- Successive editions are planned

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

3. Center of Excellence

INTECO: Ministry of Industry for IT innovation

Center of experts for developing XBRL projects

Public project for 8.000 city councils for the balance sheets and accounts

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

4. Medium and small companies

SW developers for small and medium companies

API´s for XBRL

Project identification

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

5. Communication

Repository for information on XBRL projects around the world

• latest ‘wiki’ technology

• enabling easy and flexible updating of information

• by project managers themselves

Completed projects, projects in development and planned activities, all types of projects, including public sector, commercial and academic.

Information in languages other than English

Source for an official list of projects on the XBRL site easily accessible, in a flexible and simply followed format, to the growing number of people interested in XBRL

www.wikixbrl.org

XBRL Spain and the University of Bucaramanga in Colombia (Ph. D. Eduardo Carrillo) will administer the wiki site

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

XBRL

XBRL Spain Goal Main initiativesLatinoamérica

approachGlobal Markets Conclusions

Education XBRL

XBRL on line

ASBA course

CEMLA course

Initiatives XBRL: Argentina, Brazil, Colombia, Bolivia, Chile, Mexico

XBRL projects reference

XBRL Spain Goal Main initiativesLatinoamérica

approachGlobal Markets Conclusions

Global markets means standards

XBRL is the standard for reporting business information

XBRL is a country project

Education and projects means the way to implement

XBRL Spain Goal Main initiatives Latinoamérica approachGlobal Markets Conclusions

CONCLUSIONS