London Eurofiling Workshop Ljubljana 25 th April 2013 1 XBRL choice XML based With a defined methodology to split reporting attributes validations rendering Endorsed by EIOPA Board of Supervisors for data sharing between NSAs and EIOPA ID: 431088
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EIOPA IT & Data CommitteeLondon Eurofiling Workshop
Ljubljana,25th April 2013
1Slide2
XBRL choice
XML basedWith a defined methodology to split reporting attributes (validations, rendering, …)Endorsed by EIOPA Board of Supervisors for data sharing between NSAs and EIOPAMutualized development:An EIOPA effort instead of 30 national efforts
Experience sharing with the others ESAs (EBA, ESMA)No change in the existing reporting path:Undertakings report to NSAsThen NSAs exchange between themselves and EIOPA
Not mandatory between undertakings and NSAs
2Slide3
3
Preparing for Solvency II
Consultation on guidelines published on the 27/3:
Open until 19 of june 2013
4 consultation papers (CP-13/008 to CP-13/011).
CP-13/10:
Proposal for Guidelines on submission of information to national competent authorities, including Impact Assessmen
t
Include a subset of the expected final Solvency 2 reporting
DPM and XBRL taxonomy supporting the proposal simultaneously publishedSlide4
The taxonomy timeline
4
2011
Jul
Sep
Nov
Slide5
The Tool for Undertakings Goals
5
Distribution license for all Europe. Preferable EUPL license
Using the input forms in a similar layout as the public reference templates.
Use of XBRL label, rendering, reference, formulas, etc.
Allowing reusing or extension of the tool for national extensions
Easy to use for administrative staff with limited IT knowledge
Multiplatform
XBRL syntax and formula validation at client side
Easy to update when the taxonomy changes
Internationalization: Languages, data formats, currencies, etc.
2
nd
level support
Open source,
reusable
Easy to deploy
Good performance with large amounts of data
Note that these requirements are under discussion and not final Slide6
Tool for Undertakings Timeline
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External milestones
Internal project timeline
Internal milestone
Legend
IT&DC
BoS
External milestone
2013
2013
May
Jul
Sep
Nov
Jan
Mar
2014
First version of the TfU
27-12
Publication of the release candidate of SII Preparatory Reporting Package
27-12
Publication of the Preparatory GL and Preparatory Taxonomy
1-11
First Beta TfU
30-12
First PoC TfU
18-10
TfU contractor's analyses starts
30-5
Publication of the SII Preparatory GL, the DPM and Taxonomy
24-3
Phase 3 Testing & training
12 Weeks
Phase 3 Non-core functionalities construction&testing
22.3 Weeks
Phase 3 Core functionalities construction&testing
13.3 Weeks
Phase 2 (Analysis, design and PoCs)
12.9 Weeks
Phase 1 (First analysis)
8.3 Weeks
MaySlide7
Keeping up to date
https://eiopa.europa.eu/publications/eu-wide-reporting-formats/index.htmlSlide8
Keeping up to date
http://www.eurofiling.info/solvencyII/index.shtmlSlide9
Thank you!
Aitor Azcoaga European Insurance and Occupational Pensions Authority (EIOPA)Westhafen Tower. Westhafenplatz 1 60327 Frankfurt am Main.
aitor.azcoaga@eiopa.europa.eu
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DPM and XBRL TaxonomyDevelopment process and relationships
information requirements
valid combinations
$v1 = $v2 + $v3
$v1 ≥ $v2
...
business rules and error messages
breakdowns
and members
annotated templates
legal acts
business templates
§
data model
declarations, relationships and documentaion
views (rendering)
taxonomy
all/logical combinations and general rules
$total = sum($components)
$v1 = +/- $v2
data exchange
data storage
data analysis
decisionsSlide11
XBRL taxonomy development process