Meetings at Bank of Spain push forward XBRL activities in Europe

10 October 2006

Two meetings hosted by the Bank of Spain in early October helped to push forward projects for the use of XBRL in Europe. 

The 6^th European Bank Supervisors XBRL Workshop on 4 and 5 October covered strategies for implementing the newly released COREP and FINREP taxonomies which cover regulatory reporting by banks in Europe under new regulatory reporting frameworks. 

The meeting heard reports from central banks in several countries on their experiences in implementing the two taxonomies, while software vendors demonstrated products which support reporting requirements.  

The 1^st Technical Meeting on European XBRL Projects on 5 and 6 October reviewed the status of XBRL projects in a range of European countries, including Belgium, France, Germany, Poland, Spain and the UK as well as at the International Accounting Standards Board and Eurostat.  It discussed current XBRL developments and the main priorities for new specification modules and other technical documents.  Views on priorities will be fed into discussions at the XBRL Standards Board (XSB).  Among other things, countries shared experience on taxonomy design and project implementation. 

Both meetings discussed expectations for the formula, versioning, and rendering work which is being coordinated by XBRL International. 

In total, more than 80 people attended the two meetings, with some 65 at the Bank Supervisors’ Workshop and 20 at the Technical Meeting.  Organisations represented at the Supervisor’s Workshop, held under the auspices of the Committee of European Banking Supervisors (CEBS), included central banks and supervisory authorities from Belgium, Bulgaria, Estonia, France, Finland, Germany, Greece, Hungary, Iceland, Italy, Lithuania, Luxembourg, Netherlands, Poland, Portugal, Spain, and Sweden as well as a number of commercial banking organisations and software vendors. 

Announced by:

Peter Calvert

XBRL International

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