XBRL in Europe

1. XBRL in Europe for COREP • Olivier Servais, • XBRL in Europe – Permanent Secretary • XBRL Int’l Steering Committee – Member • Friday, 3 June 2005

2. X what ? In Europe ? Agenda • Who’s driving XBRL & What is XBRL in Europe? • Overview of XBRL projects (not only) in Europe • Next challenges • Who’s driving XBRL & What is XBRL in Europe? • Overview of XBRL projects (not only) in Europe • Next challenges CEBS - XBRL COREP Steering Committee  Friday, 3 June 2005

3. XBRL internationalGovernance & Operational structure Established Jurisdiction Representatives At Large Representatives AU Paul Phenix CA BillSwirsky DE Norbert Flickinger Vincent Bert MakotoKoizumi President ** Louis Matherne IASB Kurt Ramin JP Eiichi Watanabe * NL Jan Pasmooij Walter Hamscher Michael Ohata* John Turner NZ Graeme Sinclair UK Chris Rodgers US Paul Penler* Olivier Servais Hugh Wallis Mike Willis IR Conor O’Kelly SP Federico Florez* Key Provisional Jurisdictions Korea Sweden Belgium France Denmark ISC Seat No Seat on ISC **Standing Board of Advisors(5 to 19 members)Not Yet Established Executive Committee*(7 members) International Steering Committee Chair: Kurt Ramin appoints elects ISC chair after term expires member of Immediate Past ISC Chair Vacant 1st Vice Chair Paul Penler 2nd Vice Chair Walter Hamscher *At Large EC Representation from ISC elects ISC Representatives

4. XBRL Int’lGovernance& Operational structure ISC Subcommittees & Product Development Team International Steering Committee Chair: Kurt Ramin Bylaws Subcommittee Chair - Hugh Wallis Executive Committee Advisory Board Selection Subcommittee Chair – Mike Willis Vice Chair – Olivier Servais XII Staff* Working Groups Finance Subcommittee Chair – Kurt Ramin Accounting Chair: Daniel Roberts Vice Chair: open Assurance Chair: Jan Pasmooij Vice Chair: Bill Swirsky Jurisdev Subcommittee Chair – Liv Watson Vice Chair: open Basel II Chair: Daniel D’Amico DomainChair:Josef MacDonald Vice Chair: Marc van Hilvoorde Nominating Subcommittee Chair – Bill Swirsky Vice Chair – Conor O’Kelly General Ledger Chair: Hugh Wallis Vice Chair: Diane Mueller Solutions Chair: Michael Ohata Vice Chair: Paul Snijders Product Development Team Chair – Walter Hamscher Specification Chair: Paul Warren Vice Chair: Cliff Binstock * Louis Matherne, President Marisa Chung, Business Development & Operations Manager Tracey Tarinelli, Program Manager Peter Calvert, Web Content Manager (contract)

5. XBRL in Europe The Project Theme : “Speeding up the development and adoption of XBRL in Europe” Supported by the 6th Framework Program : IST-2002-2.3.1.9 - Networked businesses and governments Focus: • Increase awareness • Founding jurisdictions • Internet • Permanent secretariat Key features • Neutral & Independent • Two-way dialogue • ICT dimension • Infrastructure • Outcome CEBS - XBRL COREP Steering Committee  Friday, 3 June 2005

6. XBRL in Europe Jurisdictions • Established • Ireland • Germany • Spain • The Netherlands • United Kingdom • Provisional • Sweden • Belgium • Denmark • France • In construction • Czech Republic • Finland • Hungary • Poland • Portugal • Luxembourg • In project • Slovenia, Austria, Italy, Greece, Estonia, Norway, Malta + Turkey

7. Local GAAP taxonomy • Acknowledged • Germany • Spain • The Netherlands United Kingdom • In construction • Belgium • France • Ireland • Sweden

8. Agenda • Who’s driving XBRL & What is XBRL in Europe? • Overview of XBRL projects (not only) in Europe • Next challenges • Who’s driving XBRL & What is XBRL in Europe? • Overview of XBRL projects (not only) in Europe • Next challenges CEBS - XBRL COREP Steering Committee  Friday, 3 June 2005

9. National UK Inland Revenue UK Financial Services Authority UK Companies House Datev/Bundesbank Danish Commerce & Companies (DCCA) Bank of Spain Bank of Belgium – Balance sheet office Belgian Banking supervisors Dutch Water Boards Dutch Statistics agency (CBS) Dutch government Pan-european XBRL in Europe – FP6 ICISA (CRAS group) Eurostat (feasability study) IASB CEBS – COREP (Basel II) XBRL projects in Europe 30+ projects !

10. Projects and future applications in

11. The Dutch Taxonomy Project • Taxonomy for Dutch financial reporting • Annual accounts • Taxes • Financial statistics • Issues: • Identifying companies • Reporting frequency • Types of reports and status • Audit reports • Interdepartmental project • Ministry of Justice • Ministry of Finance

12. Report Sets Sets … Statistics Relations DataTypes (RJ) Taxes DataTypes Relations IFRS Waiver taxonomy Architecture Per subject / target group Sets Form sets Elements annual account Domain specific GEN-Base Generic Elements Netherlands Dutch Tree IFRS

13. Business case

14. Status of project • In progress • Standardization of context information • Further normalization • Chain testing by performing a business case • Letter of intent by all stakeholders • First test release of the Dutch Taxonomy is now available! • www.xbrl-ntp.nl/english • User: taxonomie01 - Pass: boston

15. CEBS - XBRL COREP Steering Committee  Friday, 3 June 2005

16. FDIC OCC FRB OTS NCUA 8 200 Banks Federal Deposit Insurance Corporation - Today • Quarterly information comprised of 2,000 fields described in400 pages of instructions • Multiple copies of data exist inside multiple agencies (error prone) • Avg. of 60-70 days to receive, validate + publish filings (not timely) • Estimated processing costs over next 10 years - $65 million (costly) • March 2003 reports had nearly 18 000 errors that needed to be corrected (integrity issues) • 1 000 basic math errors • 17 000 quality (validation) errors CEBS - XBRL COREP Steering Committee  Friday, 3 June 2005

17. FDIC OCC FRB OTS NCUA FFIEC 8 200 Banks Federal Deposit Insurance Corporation - Future • “All of this can be boiled down into a fairly modernized process with XBRL”. On the back end, 1,500 formulas promote data quality (timeliness/flexibility) • Filers required to submit data in XBRL format over the web (automation) • Multiple sources of data => SINGLE SOURCE (integrity) • Processing Time 60 - 70 days => 32 Days (timeliness) • Processing Costs $65M => $39M, a savings of $26M (cost/efficiency) • Cost savings to the U.S. banking agencies accrue when the system is extended to other data series CEBS - XBRL COREP Steering Committee  Friday, 3 June 2005

18. Operational launch is planned for the third quarter – October 1, 2005 Additional information available at: www.FFIEC.gov/FIND

19. Agenda • Who’s driving XBRL & What is XBRL in Europe? • Overview of XBRL projects (not only) in Europe • Next challenges • Who’s driving XBRL & What is XBRL in Europe? • Overview of XBRL projects (not only) in Europe • Next challenges CEBS - XBRL COREP Steering Committee  Friday, 3 June 2005

20. 1stEuropean XBRL Conference for Financial Services • Theme : How XBRL will improve Financial Services reporting by 2006 • Hosts : XBRL in Europe, with CEBS • Keynote speakers: José Maria Roldan (Chairman of Committee of European Banking Supervisors), Pierre-Yves Thoraval(Member of Basel Committee), Peter Praet (Member of the Board of CBFA), Tom Jones (Vice-Chairman of IASB) and representatives of the European Commission and banks (Deutsche Bank, San Paolo IMI + Borsa Italiana) • When: 29 June 2005 10.00 – 17.00 • Where: Chartered Accountants Hall, London • Size: 200+ attendees • Audience profile: Bankers and supervisors CEBS - XBRL COREP Steering Committee  Friday, 3 June 2005

21. CEBS - XBRL COREP Steering Committee  Friday, 3 June 2005

22. 1stEuropean XBRL Conference for Financial Services CEBS - XBRL COREP Steering Committee  Friday, 3 June 2005

23. European Banking Supervisors XBRL Roundtable The concept • Purposes : • Help to supervisors to decide that XBRL is of use for them within COREP/FINREP, and then to implement XBRL for COREP & FINREP at national level • Provide technical background & knowledge in order to implement XBRL • Duration & form: 3-4 days Workshop, by mid-September • Audience : supervisors only (+ guests), involved in XBRL COREP/FINREP projects, on invitation only • Location: Brussels (premises TBD) • Costs: • Organisational: covered by XiE • Real costs (accom, trainers…): covered by participants/CEBS CEBS - XBRL COREP Steering Committee  Friday, 3 June 2005

24. European Banking Supervisors XBRL Roundtable Agenda • Day 1: What is the COREP/FINREP XBRL project(s) • Hands on XBRL basics for supervisors • Day 2: How to implement COREP/FINREP with XBRL • Strategies, tools, converters and IT environment • Day 3 am: Customizing COREP/FINREP at national level • Day 3 pm: Software vendors presentation • Day 4 am: Internal roundtable (Supervisors only) CEBS - XBRL COREP Steering Committee  Friday, 3 June 2005

25. Next challenges for XiE • Provide to FP6 the XiE commitments • Identify the next expectations : From “why and who” to “how to, how much, how long” (the EGG & GCD experiences with SGS) • Re-define the proper organization : on track • Improve cooperation with legal representative bodies (CEBS-COREP, CESR, CEIOPS, IFAC-FEE, FESE-WFE…) : on track • Get new EC funds : on track • Reach self-funding (without EC) : on track • Create XiE as a legal entity : on track CEBS - XBRL COREP Steering Committee  Friday, 3 June 2005

26. Thank you ! •  olivier.servais@xbrl-eu.org • +32 2 702 64 82  +32 2 702 64 75 +32 497 456 456 • www.XBRL-eu.org • www.XBRL-eu.org/london CEBS - XBRL COREP Steering Committee  Friday, 3 June 2005