Ignacio Boixo XBRL Network Co-ordinator, Committee of European Banking Supervisors

Head of International Projects, IS Department, Bank of Spain

Manager, XBRL Spain

Information Technology Committee, European System of Central Banks

COREP/FINREP XBRL Update

VI Workshop, October 2006

2

CEBS News

Expert Group on Financial Information decided to create three networks:

COREP network: coordinated by Fernando Navarrete (Bank of Spain)

FINREP network: coordinated by Marc Pickeur (CBFA)

XBRL related-matters network: coordinated by Ignacio Boixo (Bank of Spain)

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SEC News

Washington, D.C., Sept. 25, 2006

U.S. Securities and Exchange Commission: $54 million to transform the agency’s 1980s-vintage public company disclosure system

$48 million to complete the transformation of the old EDGAR database into the new XBRL-capable system over the next year.

Complete XBRL Code Writing for U.S. GAAP Financial Statements — $5.5 million, contracting with XBRL US

Interactive Data Tools for Investors — $500,000

www.sec.gov/news/press/2006-158.htm

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Eurostat News

XDIS/XBRL project

Focus on reporting by enterprises to National Statistics Institutions

October 2006 – February 2007: Prepare and perform tests (BE, ES, NL)

March 2007: Acceptance analysis

April – November 2007: Extension to other domains and countries (maybe IE, LU and SE)

Total budget: 3.75 M€ for budget years 2005->2008 675.000 € to pilots and studies on XBRL and other sectoral standards

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European System of Centrat Banks News

EXDI project

Focus on collecting Banking Information

XBRL format: main candidate format

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XBRL Investment (Feb.-May 2005)

Concept Number Units Market* Cost Secretariat

IT developers full time 3 12 months 12.000 € 144.000 € -Intl. XBRL advisors 3 10 weeks 6.000 € 60.000 € -Business advisors 3 10 weeks 3.000 € 30.000 € -Scholars 3 12 months 1.000 € 12.000 € -IT support & coordination 10 50 weeks 3.000 € 150.000 € -Attendants on site 50 50 weeks 3.000 € 150.000 € -Attendants off site 150 260 msg. - - -Subtotal staff 54 months 546.000 € -

Website & e-mail corep.info 150 € 150 € -Conference call 10 calls 100 € 1.000 € 300 €Meeting rooms 2 20 days 1.000 € 20.000 € -Tools, training & develops. 50.000 € 50.000 €Travels & accommod. 75 trips 2.000 € 150.000 €Subtotal supplies 221.150 € 300 €

TOTAL 767.150 € 300 €

Around three quarter million € has been invested until June 2005 by Supervisors and XBRL community

(*) Market cost per unit. Source: PwC

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Financia

l M

arke

ts

Info

rmatio

n

socie

ty

Rules InternetUsersComp. XBRL

Financial information brigde

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Basel II, IAS/IFRS …

EC 2006/48 & 49 …

Country 1

FSA 1

Report 2Report 1

------------------------------------

Country 3Country 2 Country 25

FSA 2 FSA 3 FSA 25

Report 25

----------------------------------------------------------------------------------------------------------------------------------------------------------------

Report 3

----------------------------------------------------------------------------------------------------------------------------------------------------------------

National Regulation

Transposition into national Legislation

European Law9X,XX% best practices + EU requirements

National Implementation

XBRL challenge!

Global best practices

Flexibility Principle

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CEBS XBRL: IT implementation model

Bank

Bank Management

OperationsCounterparties

Collateral…

Report

XBRL------------------------------

Supervisor

Supervision

ReportsOther data

…

to XBRL

Taxonomy XBRL

Errors

Internet

fromXBRL

INDUSTRY

Didactic model for explanatory purposes only

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CEBS XBRL EU: implementation model

Bank

Bank Management

OperationsCounterparties

Collateral…

Report

------------------------------

Supervisor

IS Supervisory

ReportsOther data

……

Presentation, Analysis…

Bank operations, controls….

Basel IIIAS/IFRS

App.

to XBRL

from XBRL

Basel IIIAS/IFRS

App.

Report

------------------------------

File Transfer (National)

XBRL (Europe)

XBRL (National)

ErrorsErrors

Internet

XBRL National implementation

XBRL core

Basel IIIAS/IFRS

Basel IIIAS/IFRS

Didactic model for explanatory purposes only

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Today