1 progress in boj’s xbrl pilot project nov. 2004 yoshiaki wada bank examination and surveillance...
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1
Progress in BOJ’s XBRL Pilot Project
Nov. 2004
Yoshiaki Wada Bank Examination and Surveillance Department
Bank of Japan
© 2004 Bank of Japan
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1 . The role of the BOJ within Japanese Financial Systems and the progress in the XBRL pilot project
• BOJ’s branch network
© 2004 Bank of Japan
• Project history
• The BOJ way to provide and receive different types of information and apply them to FSI supervision
• Range of FSIs covered by BOJ examination / monitoring, and the participants in the pilot project
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BOJ’s branches network
© 2004 Bank of Japan
● Head Office : Tokyo Branches : Kushiro, Sapporo, Hakodate, Aomori, Akita Sendai, Fukushima, Maebashi, Yokohama, Niigata, Kanazawa, Kofu, Matsumoto, Shizuoka, Nagoya, Kyoto, Osaka Kobe, Okayama, Hiroshima, Matsue, Shimonoseki, Takamatsu, Matsuyama, Kochi, Kitakyusyu, Fukuoka, Oita, Nagasaki, Kumamoto, Kagoshima, Naha
Tokyo
Maebashi
Fukushima
Sendai
Aomori
Kushiro
Sapporo
Hakodate
Akita
Niigata
Matsumoto
Kanazawa
Okayama
Kobe
MatsueHiroshima
Shimonoseki
Kitakyusyu
Fukuoka
Nagasaki
KumamotoKagoshima
OitaMatsuyama
Kochi Takamatsu
Osaka
Kyoto
Nagoya
Shizuoka
Kofu
Yokohama
Naha
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Range of FSIs covered by BOJ examination / monitoring, and the participants to the pilot project
© 2004 Bank of Japan
about 560 FSIs (end of March 2004)
Major Banks
Regional Banks
Shinkin Banks
Foreign Banks
Securities Firm etc.
Test Phase 1
Test Phase 2( 31 participants )
( 4 participants )
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Project history
© 2004 Bank of Japan
Preparation for the test Phase 1 of the test
Session with 4 Major Banks Test part
June, 2003 July – Sept. Oct. Nov. – Dec. January, 2004 March
Phase 2 of the test
InvestigationHearing
Taxonomycreation
Functional development
Join XBRL -Japan
Briefing toexecutives
Tool evaluation
Part 1 Part 2
July Sept.
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The BOJ way to provide and receive different types of information and apply them to FSI supervision
© 2004 Bank of Japan
Applicability of XBRL
BOJBOJ
FSIFSI
CorporationCorporation
BOJ net
Reporting systems, incl. VPN online data gathering system
Ho
st syste
mP
C system
File format conversion
Character code conversion
DBs
original format
Individuals
Files
Papers
Host computerFile format conversionCharacter code
conversionKey entry
Character code conversion
PC
Accounting table creation
File creation
StorageIntranet
Application to FSI supervision
(data format for printing)
Vertical andhorizontal position and
data specification
Financial DB
Text format
Excel, Word, Text, CSV, XML Paper-based
Publication of a variety of statistics
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2 . Understanding the pilot project
•Project overview
© 2004 Bank of Japan
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•Concept of BOJ’s VPN system
•Taxonomy structure
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Project overview ① Purpose
© 2004 Bank of Japan
・ Promote understanding of XBRL within the FSIs
・ Phase 1 ────── 4 Mega banks ( XBRL- Japan member )
Participants
Timing of the test
・ Verify both the technical and operational usefulness of XBRL
・ Phase1 : December 2003 to March 2004
・ Phase 2 (Part 2) ── 4 Mega banks
・ Phase2 : (Part 1) July 2004
(Part 2) Sept 2004
(Part 1) ── 31 local and other banks ( non XBRL- Japan member )
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© 2004 Bank of Japan
Wanted!Wanted!
XBRLXBRL Data Communication Test – Participant InvitationData Communication Test – Participant InvitationXBRLXBRL Data Communication Test – Participant InvitationData Communication Test – Participant Invitation
(Scope of Test)
- Create an XBRL data file and transmit to the Bank of Japan
(Date of Execution /Recruitment Period)
- July / 17-25th June
(Number and Type of Participants)
- 20 BOJ Partner FSIs
(Application)
-Yoshiaki Wada, Bank Examination and Surveillance Department, BOJ
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Project overview ②
© 2004 Bank of Japan
( Phase 1 )・ Test by XBRL-Japan member banks
・ Data transfer between the BOJ and FSIs using XBRL format
Scope of the test
・ Accounting tables for
Target reports
( Phase 2 )
・ P/L tables for annual/half year business report (Part 2 of Phase2)
monthly balances (Phase1 ~ Part 1 of Phase2)
・ Test by banks including non XBRL- Japan member
・ Test of newly structured taxonomy
・ Possibility of using VPN system for secure data transfer
・ Test of XBRL Spec 2.1
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Concept of BOJ’s VPN system
© 2004 Bank of Japan
IP-VPN
net-
work
BOJ
Up load of reporting forms
Down load of reported data
Reporting forms
FSIs
PC in FSIsPC in BOJ
Data reception
Data decryption
Virus test
Down load of reporting forms
Datatransmission
Reporting data input
Data encryption
IP-VPN : Internet Protocol - Virtual Private Network
Server system
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Taxonomy Structure Methodology ①
Each account varies according to FSI business type
© 2004 Bank of Japan
• The taxonomy for internal use has a structure which maps the roles of each type of maintenance engineer to enable job allotment.
• Taxonomy for internal use is composed of a common taxonomycommon taxonomy for all financial institutions and a delta taxonomydelta taxonomy according to the business type.
Definition of the concept itself is separated from the relationship between concepts
Ease of maintenance is of primary consideration
Applicability to other reports
• The methodology of separating the common and delta taxonomy is applicable, for example, to the annual business report, for changes to due date and in reporting data types.
• The structure is composed of “Taxonomy for internal useTaxonomy for internal use” (concept itself defined with schema, label link and reference link) and “Reporting TaxonomyReporting Taxonomy” (relationships between concepts defined using presentation link , calculation link and definition link).
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Taxonomy Structure Methodology ②
© 2004 Bank of Japan
Taxonomy common to all FSI
Taxonomy common to A ~C
Taxonomy common to A ~ C & D
Taxonomy common to domestic FSI
Taxonomy common to A ~ B
Taxonomy common to D ~E
Taxonomy for accounting item a
Taxonomy for accounting item b
Taxonomy common to B ~ C
D Taxonomy
E Taxonomy
C taxonomy
Taxonomy common to A ~ B & D
Type A1
Type A2Type B Type C Type D1
Type D2 Type E
L
S Schema
R
P
C
D
Label-link Reference-link
Presentation-link
Calculation-link
Definition-link
C
S
D
PL
R
Taxonomy for internal use
C
S
D
PL
R
Taxonomy for reporting
Taxonomy set for FSIs(DTS)
Set the schema, label -link, reference-link.
Set the presentation-link, calculation-link and definition-link.
Import
Taxonomy Structure
Taxonomy for reporting consists of necessary internal taxonomy units.
Delta Taxonomy
Taxonomy for reporting, designed
for each FSI type
Taxonomy for internal use
Common Taxonomy
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3 . Test summary
• Test results and summary of Phase 2
• Evaluation of Phase 2 by test participant FSIs
© 2004 Bank of Japan
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Results and summary of Phase 2
© 2004 Bank of Japan
Phase 2 pilot project - Part 1 ( July )
Need for reorganization to accept XBRL data
Importance of validation
Study of storage and re-use of XBRL data
Phase 2 pilot project - Part2 ( Sept. )
Expectations for Expectations for practical usepractical use
Understanding of XBRL penetrates to a broader range of FSIs
Both the technical and operational usefulness of XBRL is confirmed
• Created the taxonomy of the monthly accounting table using Spec. 2.0 (Bank of Japan)
• Created the taxonomy for the annual business report using Spec. 2.1 (Bank of Japan)
• Able to generate an instance in XBRL format without any problem using Excel table which includes the monthly accounting table (FSIs)• Received the data and could re-create the table (Bank of Japan)
• Able to generate an instance in XBRL format without any problem using Excel table which includes the annual business report (FSIs)
• The data was received online and could re-create the table (Bank of Japan)
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Response to the Phase 2 questionnaire ①
© 2004 Bank of Japan
Summary of response (replies from 31 participating FSIs)
Expanding recognition
of XBRL
① Enables data validity check
② Enables the addition and checking of notes to the items
③ Enable verification of the link documents such as item definition etc.
- XBRL name recognition ・・・Approx. 80%Approx. 80%
- Felt the need to study XBRL through the pilot project ・・・Approx. 60%Approx. 60%
- Main points where FSI felt the benefits of XBRL:
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Response to the Phase 2 questionnaire ②
© 2004 Bank of Japan
Reasons for participation in the pilot project
(i) Study of values and issues --- Analyzes and evaluates what type of actual value and impact can be obtained through the use of XBRL(ii) Understanding and confirmation --- Able to learn about XBRL
(iii) Ease of participation --- Conditions to participate were simple, and so participation was easy.
(iv) Experience to use the tools --- Wanted to use the XBRL conversion tools
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Response to the Phase 2 questionnaire ③
© 2004 Bank of Japan
Businesses where XBRL could be applied in the future
• Data storage and analysis
• External report generation
• In-house data collaboration
- The kinds of businesses that would be able to use XBRL
t
• Loan bsiness
• In-house account settlement
• Auditing
• Public relations
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And now for the last word ---
© 2004 Bank of Japan
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Thank you for listening.
© 2004 Bank of Japan
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