Congratulations to our friends at the Bank of Russia! It has become the first regulator to collect data using the xBRL-CSV format, facilitating the submission, storage and analysis of large volumes of granular data.
This is a guest post by Stanislav Korop, Deputy Director Data Governance Department, Bank of Russia. It is based on his 15 April 2021 session at Data Amplified Virtual, catching us up on the Bank’s new xBRL-CSV framework, which has just been launched for Russian filers. Like many regulators we find ourselves wanting to collect […]
The Bank of Russia has published a guide to help preparers make the reporting changes required by the recent adjustments to accounting standards and the Bank of Russia taxonomy. The instructions include changes to the forms, terms and procedures for compiling and submitting reports. Some affected submission dates have been extended due to the changes. […]
The Bank of Russia has released XBRL Taxonomy version 3.1, which replaces version 3.0 from 30 September 2019. The updated taxonomy contains adjusted control ratios and a number of improvements aimed mainly at the reporting of joint-stock investment funds and investment fund management companies, mutual funds and non-state pension funds. Read more here. It is mandatory for affected […]
The Central Bank of Russia has released a draft adjustment to the reporting requirements for insurance companies. The direct No. 4584-U changes the forms, terms and procedure for drawing up and submitting reports to the central bank.
With XBRL filing rules impacting some 17,000 financial institutions in Russia, XBRL Russia through the Department of XBRL Technologies at the Bank of Russia will be running a series of educational workshops. Starting in April, this four-part webinar series will cover XBRL use for insurers, pension funds, management companies, broker/dealers, and more. More here.
On Wednesday the Central Bank of Russia and the prestigious Finance University in Moscow marked the endowment of a new Chair in XBRL studies. Aimed at helping develop and expand expertise in the field for finance professionals as well as students, the Finance University will also be carrying out research into structured data and digital […]
The Bank of Russia’s XBRL final taxonomy of accounting (financial), supervisory and statistical reports for Non-Credit Financial Institutions (NFIs) has been now been published. A wide array of institutions will be obliged to use XBRL to file reports to the Bank from early 2018 onwards, including insurance firms and pension funds. The preliminary XBRL taxonomy […]
The Central Bank of Russia is leading the modernisation and digitisation of the financial sector in that country and the use of XBRL for data collection is a key part of this initiative. The XBRL Russia website (it translates very effectively in Chrome) has recently been formally launched and contains a wealth of information about […]