XBRL US recommends xBRL-CSV for money market fund reporting

Posted on July 15, 2022 by Editor

XBRL US has submitted a comment letter on a Securities and Exchange Commission (SEC) notice of information collection for Form N-MFP. This is used by money market funds to make monthly reports, requiring disclosures related to portfolio holdings, including daily and weekly facts. Currently, this form is reported in XML format. XBRL US urges the SEC to consider instead the use of xBRL-CSV: “Transitioning to an XBRL-CSV standard rather than custom XML would also render data machine-readable, but would have the added benefit of reducing the size of the file issuers need to report and streamlining the preparation process.” It would also facilitate the extraction and analysis of data by users.

Read more here.

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