On 2nd December 2013 the European Banking Authority (EBA) released a revised version of the COREP/FINREP taxonomy (v2.0.0) to be used by credit organisations and investment firms to submit risk data to their national supervisors in 2014, as required by the Capital Requirements Directive (CRD IV).
The revised taxonomy 2.0.0 package is available at the EBA website.
In addition to the XBRL taxonomy itself, the release includes a number of technical documents, such as a description of the architecture of the XBRL taxonomy, the Data Point Model on which the taxonomy is based, filing rules specifying requirements and guidelines for creating instance files (reports) that use the taxonomy and sample reports
AMOSCA notes the following changes:
NACE codes have been expanded to include sub categories
An additional 500 new business rules have been included
Currency breakdown lists have been increased from 42 to 162
Changes to validation rules ensure consistency between tables
FINREP modules have been reduced to only Consolidated IFRS and Consolidated GAAP, instead of the previous 9 previous variations.
Mapping error causing hierarchy mis-ordering have been corrected
Custom label roles are used to indicate filing indicator code
No new tables are included in this release, but some are anticipated in the New Year.
The underlying Data Point Model has been altered to include “restructuring of tables, table versions, table groups and modules and various linking tables to better reflect the pattern of inclusion of tables in modules, support future versioning requirements and more clearly indicate the relation of tables to templates and filing indicators”.
About Report Authority for COREP/FINREP
AMOSCA has developed Report Authority, the industry-leading report generation and validation solution for COREP and FINREP. Report Authority eliminates the need for creating and maintaining hundreds of XBRL-tagged Excel worksheets. With a simple user interface, sophisticated data capturing functionality (including dynamic links to Oracle HFM, Essbase, Excel and other data sources), and a range of template creation and maintenance capabilities, organisations can create fully validated submissions with ease.
For more information visit the Report Authority website (www.reportauthority.com)