Embed Size (px)
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 Presentation
Citation preview
Information Systems
Finance track: Banking
XBRL reporting process at Banco de España
Víctor Morilla
IT Specialist
20th XBRL International Conference
Rome21 April 2010
INFORMATION SYSTEMS2
Information Systems
Finance track: Banking
XBRL reporting process at Banco de España
Víctor Morilla
IT Specialist
20th XBRL International Conference
Rome21 April 2010
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
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
INFORMATION SYSTEMS6
Commercial bank
Regulator
Data filing and validation process (classic approach)
Data extraction
Errors detected
Analysisand corrections
Data extraction
Validation OK
Analysis
Notification
INFORMATION SYSTEMS7
Complexity of the whole process
RegulatorSender
Sender
Sender
Sender
Sender
Sender
Sender
Sender
Sender
Sender
Sender
Sender
400 credit institutions
INFORMATION SYSTEMS8
Commercial banks
Regulator
Implementation of a new regulation law (XBRL approach)
Businessuser
IT analyst
RegulationLaw
XBRLTaxonomy
Businessuser
INFORMATION SYSTEMS9
Commercial banks
Regulator
Data filing and validation process (XBRL approach)
Data extraction& local validation
AnalysisAnd corrections
Analysis
Validation OK
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
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
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
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
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)
INFORMATION SYSTEMS
Former approach
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
16
