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XBRL COFINREP Implementation

XBRL COFINREP Implementation. VII COFINREP Workshop. Bartosz Ochocki bartosz.ochocki@br-ag.eu. XBRL in Polish banking sector. National Bank of Poland extension of COREP and FINREP taxonomies COREP CA template required starting from March 2007

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XBRL COFINREP Implementation

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  1. XBRL COFINREP Implementation VII COFINREP Workshop Bartosz Ochocki bartosz.ochocki@br-ag.eu

  2. VII COFINREP Workshop XBRL in Polish banking sector • National Bank of Poland • extension of COREP and FINREP taxonomies • COREP CA template required starting from March 2007 • COREP and FINREP obligatory since July/September 2007 • legislative process • development of the reporting platform • designing of the data base • enabling analysis • Reporting banks • preparation of their internal systems • solutions of Polish software vendors

  3. VII COFINREP Workshop Data mining Reporting chainModel approach Regulator Legal regulations Report receiving and validating Software vendors and consultants Content and format Report Reporting entity Report generating Data sources

  4. VII COFINREP Workshop XBRL reporting implementation phases I Requirements analysis Heavily depend on scope, conditions and means of implementation II Resources analysis and planning III Preparation of infrastructure IV Tests V Production use VI Rules and processes regarding maintenance

  5. VII COFINREP Workshop Data mining Scope of implementation Regulator scope of reporting chain Report receiving range of data collected Report for statistics Report for super-visors Report for financial/ accounting Reporting entity Report generating Data sources

  6. VII COFINREP Workshop Means of implementation • development using available tools as components • development using own resources only • purchase of the solution covering whole reporting chain • independency • customization possibility • time and effort minimizing • less knowledge required

  7. VII COFINREP Workshop XBRL reporting implementation phases I Requirements analysis II Resources analysis and planning III Preparation of infrastructure IV Tests V Production use VI Rules and processes regarding maintenance

  8. VII COFINREP Workshop III Preparation of infrastructure 1 Preparation of data model 2 Taxonomy development and documentation 3 Instance document requirements documentation 4 Development of reports generating solutions (optional) 5 Communication aspects (transferring and receiving files) 5a Taxonomies distribution 5b Transfer of reports (receiving and validation) 6 Data conversion and gathering 7 Data analysis

  9. VII COFINREP Workshop III Preparation of infrastructure 1 Preparation of data model • Problems • level of details • decision on use of dimensions • logical split in parts • understanding of the nature and limitations of XBRL technology

  10. VII COFINREP Workshop III Preparation of infrastructure 1 Preparation of data model 2 Taxonomy development and documentation Requirements Taxonomy requirements Predevelopment Design Information model Building Taxonomy Working Drafts Development Testing Taxonomy Exposure Draft Publication & Recognition Taxonomy Final Version Post-development Maintenance and Usage

  11. VII COFINREP Workshop III Preparation of infrastructure 2 Taxonomy development and documentation • framework and modularization - building a taxonomy from logical pieces • aim: • avoiding redundancy (elements and relationships) • minimizing of efforts • minimizing of size • maximizing of functionality and flexibility • technical approaches: • modularization on linkbase (extended links) level [IFRS-GP] • modularization with one sack for elements definitions [FINREP] • modularization with common elements' sacks [COREP] • mix

  12. VII COFINREP Workshop modularization with one sack for elements definitions[FINREP] L S (b) L L L S1 (d) S2 (d) S3 (d) R R R R D D D S (ts) S (tr) L S (w) R S1 (p) S2 (p) S3 (p) P C D P C D P C D S1 (t) S2 (t) S3 (t) L D L D

  13. VII COFINREP Workshop S1 (cp) S2 (cp) S (ts) modularization with common elements' sacks[COREP] P C D P C D L R L R S1 (p) S2 (p) S3 (p) L S1 (d) R P C D P C D P C D D L R L R L R L S2 (d) R S1 (t) S2 (t) S3 (t) D L L D L D L D S3 (d) R D

  14. VII COFINREP Workshop NBP –Taxonomy framework monthly individual quarterly COREP consolidated quarterly monthly PAS quarterly yearly individual monthly IFRS quarterly FINREP yearly quarterly consolidated IFRS yearly COMMON

  15. VII COFINREP Workshop III Preparation of infrastructure 3 Instance document requirements documentation (1) • requirements regarding indication of version and sort of taxonomy on which report is based: • automatic: schemaRef attribute of the entry schema (extending prohibited) • additional: • file name • context id • reported element • … • requirements for data accuracy • precision/decimals attributes • depending on concept or data type

  16. VII COFINREP Workshop III Preparation of infrastructure 3 Instance document requirements documentation (2) • specific file names and context ids, e.g.: N_a_b_c_d_RRRRMMDD.xbrl • N: shortened bank name • a: [c;f] • b: [j;s] • c: [p;m] • d: [m;k;r] • RRRRMMDD: reporting date • reporting entity identification: • entity identifier: code of reporting bank • identifier scheme: http://sis.nbp.pl/ticker

  17. VII COFINREP Workshop III Preparation of infrastructure 3 Instance document requirements documentation (3) <xbrli:context id="BANK_f_j_p_k_20070630P_FDPA003_FDPP023_FDWA002"> <xbrli:entity> <xbrli:identifier scheme="http://sis.nbp.pl/bank">111</xbrli:identifier> <xbrli:segment> <xbrldi:explicitMember dimension="d-FINREP-pl-pa:PortfelABWymiar"> d-FINREP-pl-pa:PortfelB </xbrldi:explicitMember> <xbrldi:explicitMember dimension="d-FINREP-pl-pp:PodzialPodmiotowyWymiar"> d-FINREP-pl-pp:DuzePrzedsiebiorstwa </xbrldi:explicitMember> <xbrldi:explicitMember dimension="d-FINREP-pl-wa:WalutyWymiar"> d-FINREP-pl-wa:Pln </xbrldi:explicitMember> </xbrli:segment> </xbrli:entity> <xbrli:period> <xbrli:startDate>2007-03-31</xbrli:startDate> <xbrli:endDate>2007-06-30</xbrli:endDate> </xbrli:period> </xbrli:context> <xbrli:unit id="PLN"> <xbrli:measure>iso4217:PLN</xbrli:measure> </xbrli:unit> <p-FINREP-pl:PrzychodyZTytuluOdsetekKredytyNaNieruchomosciMieszkaniowe decimals="0" unitRef="PLN" contextRef="BGK_f_j_p_k_20070630_FDPA003_FDPP023_FDWA002">1000 </p-FINREP-pl:PrzychodyZTytuluOdsetekKredytyNaNieruchomosciMieszkaniowe>

  18. VII COFINREP Workshop III Preparation of infrastructure 4 Development of reports generating solutions (optional) • MS Excel macro for CA template • Field left to the market

  19. VII COFINREP Workshop III Preparation of infrastructure 5 Communication aspects (transferring and receiving files) • communication platform: Internet • basic features: • login • taxonomy distribution • transfer and receive of report • report classification • period • taxonomy package • information on submitting person • information on person responsible for data

  20. VII COFINREP Workshop III Preparation of infrastructure 5 Communication aspects (transferring and receiving files)

  21. VII COFINREP Workshop III Preparation of infrastructure 5b Transfer of reports (receiving and validation) • XBRL and other validations • XBRL - embedded in portal validator • need for customization of error messages • language • human readability • advanced business rules • business rules need to be communicated to reporting entities (preferred electronic format, e.g. CSV, XML, …) • available software specific solutions • other checks • formal requirements regarding instance documents • completeness • historical checks on the database level

  22. VII COFINREP Workshop III Preparation of infrastructure 6 Data conversion and gathering • Data conversion • mapping of: • taxonomies in order to design database • reports (instance documents) into databases • mechanism to flatten XBRL • contextually • dimensionally • may support problem of versioning • indication of changes in taxonomies with regard to databases • consequences of taxonomy changes for XBRL instance documents content

  23. VII COFINREP Workshop XBRL Reporting Chain Model

  24. VII COFINREP Workshop VI Rules and processes regarding maintenance Data gathering Taxonomy bugs and issues Regulator New (changed/corrected) taxonomy Receiving and validating report Format and content Report Changes in legislation Changes in taxonomy Reporting entity Generating reports Changes in base taxonomy (in case of extensions) Data sources Former taxonomy

  25. VII COFINREP Workshop VI Rules and processes regarding maintenance • technical (ID) labels • construction: link:label elements with specific xlink:role attribute value • unique identification of a concept • benefits: • easier and faster communications (short codes instead of long labels) • easier indication of concepts (in taxonomy, instance document or validation reports) • direct link between data model and the taxonomy • supports designing of, mappings to and maintenance of databases • supports versioning (codes don't change while names or namespaces do)

  26. VII COFINREP Workshop Responsibilities of the reporting banks • gathering and calculation of reporting data • generation of the instance documents • correct definition of context information • ability to localise reporting concepts in the taxonomy structure • proper mapping from internal systems and databases • validation of the instance document • XBRL (XML and others) • business rules • formal requirements • sending of the instance document to the reporting system • understanding of error reports and correction of errors

  27. Thank you Bartosz Ochocki bartosz.ochocki@br-ag.eu

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