The use of XBRL in the EU banking supervision

1.  The use of  XBRL  is  already  required  by  some European  banking  supervisors.  CEBS  has developed  XBRL taxonomies  for  the prudential  reporting  framework COREP (COmmon REPorting) for  the new  solvency  ratio of credit  institutions  and investment  firms,  and for  the standardised financial  reporting  framework (FINREP) for  credit  institutions  operating  in  the EU.

2.   In  some Member  States  banking  supervisors8  have active XBRL projects,  some of them  either allow or require XBRL-compliant reporting9, following the recommendation of the CEBS. At the same time, there may be alternative ways other than XBRL to structure data. However, banking supervisors in six Member States10 have decided not to use XBRL.

⑧  In  Belgium,  Finland,  France,  Germany,  Greece,  Ireland,  Italy,  Luxembourg,  the Netherlands,  Poland  and Spain. Also Portugal (Banco de Portugal) views positively the use of XBRL although XBRL-compliant reporting is currently not technically supported or required.

⑨   In particular this is the case in Belgium, Germany and Spain.

⑩   Czech Republic, Estonia, Slovakia, Slovenia, Sweden and the UK.