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EIOPA IT & Data Committee London Eurofiling Workshop. Ljubljana ,25 th April 2013. 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 - PowerPoint PPT Presentation
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EIOPA IT & Data CommitteeLondon Eurofiling Workshop
Ljubljana,25th April 2013
1
XBRL choice
• XML basedo With a defined methodology to split reporting attributes
(validations, rendering, …)• Endorsed by EIOPA Board of Supervisors for data
sharing between NSAs and EIOPA• Mutualized development:
o An EIOPA effort instead of 30 national effortso Experience sharing with the others ESAs (EBA, ESMA)
• No change in the existing reporting path:o Undertakings report to NSAso Then NSAs exchange between themselves and EIOPA
• Not mandatory between undertakings and NSAs2
3
Preparing for Solvency II
• Consultation on guidelines published on the 27/3:o Open until 19 of june 2013o 4 consultation papers (CP-13/008 to CP-13/011).o CP-13/10: Proposal for Guidelines on submission of
information to national competent authorities, including Impact Assessment
o Include a subset of the expected final Solvency 2 reporting
o DPM and XBRL taxonomy supporting the proposal simultaneously published
The taxonomy timeline
4
2011 Jul Sep Nov Jan2012 Mar May Jul Sep Nov 2012
XBRL Week in FrankfurtDec-2012
Publication of Solvency II DPM Analyses
Oct-2012
Webinar Presenting PoC and DPM analyses
Publication of PoC
Sep-2012
Jul-2012
XBRL Week in MadridJun-2012
XBRL SII Seminar in
TallinMar-2012
Preconsultation SII TaxonomyJul-2011
Final Report No 11/009 and 11/011
Publication of the DPM and Taxonomy for the Preparatory phase
2013 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013
Today
Final Versionof Preparatory Package
Dec-2013
Publication of the Preparatory GL
Nov-2013
Publication of the SII Preparatory TaxonomyNov-2013
First Internal draft full set SII templates
Jun-2013
Mar-2013
Publication of the SII Preparatory GL
CP-13/010
Mar-2013
XBRL Conf. in Dublin
The Tool for Undertakings Goals
5
Distribution license for all
Europe. Preferable
EUPL licenseUsing 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 sideEasy to
update when the taxonomy
changes
Internationalization: Languages, data
formats, currencies, etc.
2nd 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
Tool for Undertakings Timeline
6
Exte
rnal
mile
stones
Inte
rnal p
roje
ct t
imelin
e
Internal milestone
Legend
IT&DC
BoS
External milestone
20132013
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 TfU18-10
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
May
Keeping up to date
https://eiopa.europa.eu/publications/eu-wide-reporting-formats/index.html
Keeping up to date
http://www.eurofiling.info/solvencyII/index.shtml
Thank you!
Aitor Azcoaga European Insurance and Occupational Pensions Authority (EIOPA)Westhafen Tower. Westhafenplatz 1 60327 Frankfurt am [email protected]
9
DPM and XBRL TaxonomyDevelopment process and relationships
information requirements
valid combinations
$v1 = $v2 + $v3$v1 ≥ $v2...
business rules and error messages
breakdownsand 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
decisions
XBRL taxonomy development process
Prod
uct
Proc
ess
Parti
cipa
ntPh
ase
Inpu
tO
utpu
t
L1 (Directive)
L2 (Final advice)
RTs and LOGs
MDP
MHD
PM
Analysis
Normalisation, labelling, data points, metrics and dimensional
characteristics identification, grouping and classification
Annotated templates
Data Point Model
Encoding and application of architectural
principles and rules
Internal testing and review, public review
Analysis Data and metadata modelling Taxonomy development Quality assurance
MDPM XBRL Taxonomy
HDPM XBRL Taxonomy
Mapping layer
MDPM architecture
HDPM architecture
EIOPA Business Experts
EIOPA Advisors
EIOPA Business Experts
EIOPA Advisors
EIOPA Advisors
Regulators and businesses
EIOPA Business Experts
EIOPA Advisors
Feedback
Improvements
Updates
