Transcript 16th XBRL International Conference

Regulatory Track
FFIEC Central Data Repository: Adding Value to the Data Supply Chain
Alan Deaton, Federal Deposit Insurance Corporation
June 25, 2009
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Overview of the Call Report
Overview of the Central Data Repository (CDR)
Value-added functionality
◦ Public Data Distribution
◦ Uniform Bank Performance Report
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XBRL for Bank Examinations
◦ FDIC’s GENESYS application (Proof of Concept) for
bank supervision
◦ Other FDIC applications
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All U.S. Banks and Thrifts are required by
the Federal Financial Institutions
Examination Council (FFIEC) to file quarterly
reports with their regulator as of the close
of business on the last day of each calendar
quarter
◦ Federally Insured Banks file consolidated Reports
of Condition and Income (Call Reports)
◦ Federally Insured Savings Institutions file Thrift
Financial Reports (TFRs)
◦ Banks have 30 days to submit data unless they
have multiple foreign offices, then 35 days
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Approximately 7,500 filing entities as of
March 31, 2009
Approximately 1,200 financial concepts
reported by an entity
Approximately 2,000 validation criteria used
to check quality
Over 429 pages of instructions
Call Report data available electronically from
as early as 1959
Since 1998, all banks have been required to
file Call Report data electronically
Before the CDR and XBRL:
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Validation routines and formulas stored in and processed
by two systems (FRB, FDIC)
Banks submit data after some minimal checks in their
software - inconsistencies between preparation software
packages
Software vendors receive Call Report metadata from Excel,
PDF, and Word documents – cut and paste into their
software
Agency analysts would check data quality once files had
been submitted and contact bankers with any questions –
often 1-3 weeks after initial submission
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Three banking agencies developed the
Central Data Repository (CDR)
◦ Used XBRL to define and transport data
◦ Data receipt
◦ Data validation
◦ Storage
◦ Distribution
CDR launched on October 1, 2005
Key policy change ~ pre-validation using XBRL
Very Successful implementation
After the CDR and XBRL:
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FFIEC developed the XBRL-based CDR with Unisys
Corporation as systems integrator
Metadata stored in XBRL taxonomy files now available to
anyone
The same taxonomy files that contain validation criteria
the agencies use in the CDR are used in Call Report
software vendor packages
Banks are required to check the quality of their data
before submitting
Agencies do not accept data with quality problems
Quality assurance work is done by reporters up front,
when it is more efficient
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Validity – equations that must hold true or
the data is inaccurate
Quality – data relationships that help identify
anomalies
Reportability – identify what financial
concepts an entity should submit based on
their structural or financial characteristics
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Value Added Business & Performance
Metrics - Uniform Bank Performance Report
(UBPR)
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Capital Adequacy
Asset Quality
Earnings
Liquidity
Growth Rates
Industry Standards
 Regulatory
 International ~ Basel II
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UBPR
◦ Modify data by (+, -, /, *)
◦ Apply functions (annualize, %change)
◦ Consistently applied across
 Data
 Industry
 Comparability
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UBPR: in CDR as early as December 2009
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Public Data Distribution: Leveraging XBRL
https://cdr.ffiec.gov/public/
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Public Data Distribution: Bulk Data
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Public Data Distribution: Public Web Service
◦ Retrieve Panel of Reporters
 Institution identifiers, simple structure data, and
indicator whether data is available
◦ Retrieve filers since a given date
 List of institutions
◦ Retrieve facsimile
 PDF
 SDF
 XBRL
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GENESYS Proof of Concept (POC)
◦ General Examination System (GENESYS) –
FDIC’s system for creating the Report of
Examination
◦ Current system relies on outdated
technology
◦ Current system must be manually updated
each quarter
 Cannot look back to prior quarters
 Delivery of system is not timely
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GENESYS Proof of Concept: Goals
◦ Enable web services
◦ Retrieve taxonomy and bank data from CDR
◦ Leverage taxonomy information internally
 Formulas
 Presentation
◦ Real-time data retrieval, manipulation and analysis
◦ POC could provide the basis for future internal
systems development:
 GENESYS Modernization Project in 2010
 Other internal FDIC systems