The European Banking Authority (EBA) published today a revised XBRL taxonomy that Competent Authorities should use for the remittance of data under the EBA Implementing Technical Standards (ITS) on supervisory reporting. The revised taxonomy will be used for reference dates from 31 December 2016 onwards.
The updated taxonomy includes changes and corrections to all the EBA's XBRL reporting structures reflecting the final draft Implementing Technical Standards amending the Commission Implementing Regulation (EU) No 680/2014 on supervisory reporting of institutions (EBA-ITS-2016-03).
A description of the Data Point Model (DPM), of which the taxonomy is a standardised technical implementation, including both a database and document representations, along with a description of the formal modelling methodology by which the DPM is defined.
Reports with reference dates as of 31 December 2016 onwards are to use the new taxonomy set (2.5), which is related to the March 2016 framework release.
Although, the EBA XBRL taxonomy was primarily developed for data transmission between Competent Authorities and the EBA, many authorities have been using it for the collection of supervisory reporting from the credit institutions and investment firms they supervise. In this respect, the taxonomy proposed by the EBA will lead to greater efficiency and convergence of supervisory practices across Members States. In addition, it will facilitate the supervisory process, allowing supervisors to identify and assess risks consistently across the EU and to compare EU banks in an effective manner.