COREP taxonomy
Workshop
7th-18th February 2005
Hosted by the Bank of Spain
Agenda
 CEBS
 Mandate
 Goals
 Organization
 Timeframe
COREP taxonomy
CEBS
Mandate
Goals
Organization
Timeframe
Committee of European Banking Supervisor (CEBS)
Established in November 2003 by the European Commission
CEBS members are high level representatives from the banking
supervisory authorities and central banks of the European Union,
including the European Central Bank
25 countries and 46 member organisations, observers from EEA*
countries, the European Commission and the Banking Supervision
Committee of ESCB (European System for Central Banks)
Chairman - José María Roldán
Vice Chair - Danièle Nouy
Secretary General - Andrea Enria
* Iceland, Liechtenstein and Norway
COREP taxonomy
CEBS
Mandate
Goals
Organization
Timeframe
• CEBS Secretariat Ltd. is established as a company limited by
guarantee under English law. Its activities are financed by central
banks and supervisory authorities participating in CEBS.
• The Secretariat supports the Committee and its expert groups, acts
as a co-ordinator for consultations, coordinates the co-operation with
the Commission and other committees, assists the Chair and the Vice
Chair in their public relations activities and representation functions
• The staff is presently composed of 10 members seconded by the
national authorities
COREP taxonomy
CEBS
Mandate
Goals
Organization
Timeframe
Priority areas of work
The industry,
market participants
and end-users
Regulatory advice to the Commission
•Cross-border mergers in banking
•The definition of regulatory capital
•Supervision of liquidity risk
Convergence of supervisory practice
CEBS
•Supervisory review process
•Validation of IRB and AMA systems
•External Credit Assessment Institutions (ECAIs)
•Common reporting
•Supervisory disclosure
•Development of IFRS compliant formats
•Supervisory guidance for the new IFRS framework
Co-operation and information exchange
•Home/host issues
•Crisis management
•Information exchange
Standards,
guidelines and
recommendations
COREP taxonomy
CEBS
Mandate
Goals
Organization
Timeframe
A data model for the common framework for the solvency ratio
reporting* has been designed with the aim of remaining neutral in
regard to independent information systems. The recommended
solution is based on the XML/XBRL (eXtensible Mark-up
Language/eXtensible Business Reporting Language) protocol which
will allow banks to take full advantage of the framework.
All the required information will be brought together within a data
model and templates provided by CEBS. The intention is to complete
an XML/XBRL coding for this framework before June 2005.
(*) own funds and Pillar I capital requirements, credit risk, operational risk and market risk
Committee of European Banking Supervisors.
Press release 26 January 2005
COREP taxonomy
CEBS
Mandate
Goals
Organization
Timeframe
Supervisor
Bank
Bank operations, controls….
Presentation, Analysis…
IS Supervisory
Risk Management
Report
Aggregator
Operations
Counterparties
Collateral
…
----------------------------
Reception
Reports
Other data
…
…
COREP taxonomy
CEBS
Mandate
Goals
Organization
COREP taxonomy
Goals
1
2
Goals
3
4
5
Timeframe
harmonise the data framework (standard)
allow banks to take full advantage (implement)
limiting the burden for small, local banks (easy)
institutions will need to adapt (timeframe)
financial market integration (desideratum)
COREP taxonomy
CEBS
Mandate
Goals
Organization
Timeframe
Deliverables
•Initial XBRL taxonomy based in COREP data model
•Set of non-confidential test cases of reports used in instance generation
•Basic collaborative environment for multinational taxonomy development
Out of scope
•Taxonomy national adaptation
•Taxonomy approval process
COREP taxonomy
CEBS
Mandate
Goals
Organization
Timeframe
Tasks
1. Designs for taxonomy, test cases and environment.
2. Taxonomy building, including "optional dimensions"
3. Study of compatibility with XML, SDMX and SGML derivates
4. Distributed elaboration of test cases of reports
5. Generation and validation of instances
6. Development of the multinational collaborative environment
Main steps
a) Design the strategy and detail the project plan
b) Building taxonomy and test cases
c) Instances generation
d) Refine taxonomy and test cases
COREP taxonomy
CEBS
Mandate
Goals
Organization
Timeframe
Committee of European
Banking Supervisors
Chairman: Jose-María Roldán
COmmon REPorting
Working Group
Chairman: Pierre-Yves Thoraval
Facilitators
COREP taxonomy
Steering Committee
Chairman: Pierre-Yves Thoraval
COREP taxonomy
Project Team
Coordinator: Ignacio Boixo
Domain
Specification
Solution
(supervision)
(XBRL/XML…)
(collaboration)
Proposal
COREP taxonomy
CEBS
Mandate
Goals
Organization
Timeframe
Domain:
Supervisors and banking experts will define objectives and provide guidance, and also they
have to (a) elaborate a set of test cases (b) generate instances and (c) validate results.
These tasks should be distributed among several participants in different locations. No
limit of participants is envisaged in this track.
Specification:
XBRL experts will investigate the optimal XBRL strategy, build the taxonomy and test the
generated instances. Portability to XML Schema and/or SDMX may be required. A limited
number of experts will form the [local] core team of this track.
Solutions:
All the aspects related with the set up of an useful taxonomy, starting from scratch, have to
be carried out in this track. Topics as tools, website, training, developments, information
flows, and so on have to be addressed here. Topics related with a suitable implementation
of taxonomies are other issue.
Teleworking:
The plenary sessions, the design tasks, and the taxonomy building requires physical
interrelationship. Other tasks may be decentralized, specially the test data elaboration,
generation of instances and adjustments, where the remote work is much more convenient.
COREP taxonomy
CEBS
Mandate
Goals
Organization
Timeframe
COREP. PROJECT PLAN TIMEFRAME
CX-003
COREP taxonomy
CEBS
Mandate
Goals
Organization
Timeframe
Start Time
7th February Schedule
Plenary or Track
Domain
Specification
Solution
12:30
Welcome Sandwich Party
14:00
Opening session (Ignacio Boixo):
Quick self introductions (All)
Context description
Vision(s)
Team Mission Statement: Deliverables
14:40
What’s COREP? (Adrian Abbott/Frederic Marie):
Description
Data Model
15:40
Coffee break
16:00
XBRL: An overview for attendants (Walter Hamscher):
Rationale
Global Description
Open Issues related to this work
17:00
Welcome words. Federico Flórez.
Information Systems Department Director.
17:10
Open discussion (Chaired by Ignacio Boixo)
18:00
End of day
COREP taxonomy
CEBS
Mandate
Organization
Goals
Timeframe
9:00
Working environment (César Pérez-Chirinos):
Facilities available
Initial tools catalogue
First approach to tele-working support after Plenary
QA Strategy
9:30
Detailed Self Description: Skills & Interests Inventory (All)
8th February Schedule
10:30
Coffee break
11:00
Second Panel:
Initial Plan Improvement Suggestions
Global Strategies and first assignments to Tracks
(Chaired by Ignacio Boixo)
12:00
Self organization:
Track Chair &
Track Secretary
nomination
13:00
14:00
Self organization:
Track Chair & Track
Secretary nomination
Self organization:
Track Chair &
Track Secretary
nomination
Buffet Lunch
Global Track
Assignment
Analysis
Global Track
Assignment Analysis
Global Track
Assignment
Analysis
16:00
Coffee break
16:20
Joint End of Day Workshop
(Chaired by Ignacio Boixo)
18:00
End Of Day
COREP taxonomy
CEBS
Mandate
Goals
Organization
Timeframe
Start Time
9th February Schedule
9:00
Plenary or Track
Domain
Specification
Solution
Assignment Global
Design
Assignment Global
Design
Assignment Global
Design
10:30
Coffee break
11:00
Open time:
XBRL Experiences & Practical Examples (Interested attendants)
(Could include technically oriented Presentations of Tools &
Services and/or demos)
Track’s Brainstorming & Drafts for Discussion
13:00
Buffet Lunch
14:00
Joint Global
Design Validation
Joint Global Design
Validation
Joint Global Design
Validation
16:00
Coffee break
16:30
End Of Day Joint Workshop:
Global Design Discussion & Refinement: First Solution Proposal
18:00
End Of Day
COREP taxonomy
CEBS
Mandate
Organization
Goals
10th February Schedule
9:00
Global Design
Refinem
ent
Global Design
Refineme
nt
11th February Schedule
Global Design
Refinem
ent
11:00
Coffee break
11:30
Open time:
XBRL Experiences & Practical Examples (Cont.)
(Interested attendants)
Inter-Track meetings & joint work on Global
Design
13:00
14:00
Buffet Lunch
Global Design
Delivera
ble(s)
Specific
ation
Global Design
Deliverab
le(s)
Specificat
ion
Timeframe
Global Design
Delivera
ble(s)
Specific
ation
16:00
Coffee break
16:30
Joint Workshop:
Global Design Discussion
18:00
End Of Day
9:00
Global Design
Delivera
ble(s)
Specific
ation
Global Design
Deliverab
le(s)
Specificat
ion
Global Design
Delivera
ble(s)
Specific
ation
11:00
Coffee break
11:30
Joint Workshop:
Global Design Discussion & Refinement:
Proposal of Deliverables to Achieve next week
13:00
Buffet Lunch
14:00
End Of Day
COREP taxonomy
CEBS
Mandate
Goals
Organization
Timeframe
14th to 18th February Schedule
9:00
Open time:
Inter-Track meetings & joint work on Detailed Design
11:00
Coffee break
11:30
Detailed Design
Validation &
Refinement
Detailed Design
Validation &
Refinement
Detailed Design
Validation &
Refinement
13:00
Buffet Lunch
14:00
Joint Workshop:
Detailed Design Discussion & Refinement
16:00
Coffee break
16:30
18:00
Detailed Design
Requirements
Specification(s)
Detailed Design
Requirements
Specification(s)
End Of Day
Detailed Design
Requirements
Specification(s)
COREP taxonomy
Workshop
7th-18th February 2005
Open dialogue
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