information systems and processes xbrl formulae motivation víctor morilla member of cebs xbrl...
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![Page 1: INFORMATION SYSTEMS AND PROCESSES XBRL FORMULAE MOTIVATION Víctor Morilla Member of CEBS XBRL Network IX European Banking Supervisors XBRL Workshop Paris](https://reader035.vdocuments.net/reader035/viewer/2022062618/551514cc55034673228b4b62/html5/thumbnails/1.jpg)
INFORMATION SYSTEMS AND PROCESSES
XBRL FORMULAE MOTIVATION
Víctor MorillaMember of CEBS XBRL Network
IX European Banking Supervisors XBRL Workshop
Paris September 29th 2008
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INFORMATION SYSTEMS AND PROCESSES
INTRODUCTION
XBRL 2.1 provides different types of validation for instance documents:
–Basic XBRL validation–XML Schema validation–Calculation linkbase–XBRL Dimensions
Not enough in most cases:–Basic arithmetic operations: product, division, …–Arithmetic comparisons: item A must be equal to item B, …–Checks for the presence of elements
Derivation of new facts from existing ones is not possibleXBRL Formulae fills the gap
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INFORMATION SYSTEMS AND PROCESSES
ESTIMATED SCHEDULE UPDATE
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2008
Mar 08First CR
Feb 08Fourth PWD
Jun 08First implementations
Oct 08Second CR
Dec 08 / Jan 09Final Rec
Bank of Spain’s reporting systemimplements Formulae validationfor COREP statements
Bank of Spain’s reporting systemimplements Formulae validationfor COREP statements
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INFORMATION SYSTEMS AND PROCESSES
WHY HAS BANK OF SPAIN CHOSEN XBRL FORMULAE?
Bank of Spain is since 2005 in a process of evolution of its system for reception of regulatory information:
Flat text proprietary format XBRLForm oriented model Data oriented model
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INFORMATION SYSTEMS AND PROCESSES
MULTIDIMENSIONAL REPRESENTATION OF THE DATA
5
t
Credit institution
Concept
100 € (prec 3)
DexiaDec 2007
Incomes
100 €100 €
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INFORMATION SYSTEMS AND PROCESSES
EVOLUTION
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StatementsStatementsStatements
StatementsStatementsStatements
StatementsStatementsStatements
SIIFSIIF
SIIFSIIF
Validations
ValidationsBasicXBRL
Validations
BasicXBRL
Validations+Formulae
Non XBRL
validations
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INFORMATION SYSTEMS AND PROCESSES
CURRENT SITUATION
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StatementsStatementsStatements
SIIFSIIF Validations
BasicXBRL
Validations
BasicXBRL
Validations+
COREP Formulae
StatementsStatemen
tsStatements
Public statementsSolvency
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INFORMATION SYSTEMS AND PROCESSES
PROJECT SO FAR
Support of the FWGFormulae linkbase development
European linkbaseSpanish extension
Test cases generationIntegration of Fujitsu formula processor (CR-1 beta implementation)
Parallel development of validations in the legacy system
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INFORMATION SYSTEMS AND PROCESSES
RELATIONSHIPS
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INFORMATION SYSTEMS AND PROCESSES
SOME NUMBERS
Spanish COREP is composed of 23 statements (17 based on COREP Europe)
Number of relationships defined by our users: 3.400
Legacy system:-Most validations implemented using a proprietary language 95%-Rest covered by ad-hoc developments: 170
XBRL validations:-Limited to relationships in an instance document. Still not covered:
-Relationships with previous periods-Information not sent in XBRL
-Rest: a high percent of formulae to be expressed in XBRL...
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100%
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INFORMATION SYSTEMS AND PROCESSES
PENDING TASKS
Following weeks:Finish the testing of formulae for some credit risk statements10% percent of formulae not working:
CR-1 bugsSome product bugs
Adapt current linkbase to CR-2 syntaxIntegrate new formulae processor (second week of October)
Next year:XBRL Formulae validation crossing information in database
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INFORMATION SYSTEMS AND PROCESSES
BENEFITS
Powerful and flexible solutionBetter maintainability
Striking reduction in the number of rules to maintain:3400 relationships expressed using around 400 XBRL
FormulaeReusability between different actors
Regulators and credit institutions (consistency assertions)Different countries:
European rulesDomestic ones
Data available sooner and improved qualityStandard and formal language to express formulaeCan be validated at the source of information
Market tools availableSupport from software vendors
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INFORMATION SYSTEMS AND PROCESSES
THANKS FOR YOUR ATTENTIONVÍCTOR MORILLA