Transcript About EIOPA - Eurofiling

EIOPA IT & Data Committee
London Eurofiling Workshop
Ljubljana,25th April 2013
1
XBRL choice
• XML based
o 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 efforts
o Experience sharing with the others ESAs (EBA, ESMA)
• No change in the existing reporting path:
o Undertakings report to NSAs
o Then NSAs exchange between themselves and EIOPA
• Not mandatory between undertakings and NSAs
2
Preparing for Solvency II
• Consultation on guidelines published on the 27/3:
o Open until 19 of june 2013
o 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
3
The taxonomy timeline
Publication of
Solvency II DPM
Analyses
Preconsultation SII
Taxonomy
Jul-2011
2011
Jul
Sep
Jan
2012
Nov
Sep-2012
XBRL SII
Seminar in
Tallin
XBRL Week in
Madrid
Mar-2012
Jun-2012
Mar
May
Oct-2012
Publication of
PoC
Webinar
Presenting
PoC and DPM
analyses
Jul
XBRL Week in
Frankfurt
Sep
Dec-2012
2012
Nov
Jul-2012
Publication of the DPM
and Taxonomy for the
Preparatory phase
Publication of the SII
Preparatory Taxonomy
Final Report No
11/009 and 11/011
Nov-2013
Mar-2013
Final
Version
of
Preparatory
Package
First Internal draft full
set SII templates
XBRL Conf. in
Dublin
Jun-2013
Dec-2013
2013
Jan
Feb
Mar
Apr
May
Mar-2013
Publication of the SII
Preparatory GL
CP-13/010
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2013
Today
Nov-2013
Publication of the
Preparatory GL
4
The Tool for Undertakings Goals
Internationalization:
Languages, data
formats, currencies,
etc.
Distribution
license for all
Europe.
Preferable
EUPL license
Easy to use for
administrative
staff with limited
IT knowledge
Easy to deploy
2nd level
support
Using 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
update when
the taxonomy
changes
Open source,
reusable
XBRL syntax
and formula
validation at
client side
Good
performance
with large
amounts of
data
Multiplatform
Note that these requirements are under
discussion and not final
5
Tool for Undertakings Timeline
Phase 1 (First
8.3 Weeks
analysis)
Phase 2 (Analysis, design and
PoCs)
12.9 Weeks
Phase 3 Core functionalities
construction&testing
Phase 3 Non-core functionalities
construction&testing
Internal project timeline
13.3 Weeks
22.3 Weeks
Phase 3 Testing &
training
12 Weeks
Legend
TfU contractor's
analyses starts
Internal
milestone
External
milestone
IT&DC
First
Beta
TfU
First PoC TfU
18-10
30-5
27-12 First
30-12
version of
the TfU
BoS
2013
May
24-3
Publication of
the SII
Preparatory GL,
the DPM and
Taxonomy
Jul
Sep
Nov
Jan
1-11
Mar
May
2014
27-12
Publication of Publication of the
the
release candidate
Preparatory
of SII
GL and
Preparatory
Preparatory
Reporting
Taxonomy
Package
External
milestones
2013
6
Keeping up to date
https://eiopa.europa.eu/publications/eu-wide-reportingformats/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 Main.
[email protected]
9
DPM and XBRL Taxonomy
Development process and relationships
information requirements
§
business
templates
decisions
legal acts
data
analysis
data model
annotated
templates
breakdowns
and members
taxonomy
views
(rendering)
all/logical
combinations
and general
rules
$total = sum($components)
$v1 = +/- $v2
declarations,
relationships and
documentaion
data
storage
data
exchange
valid combinations
business rules
and error
messages
$v1 = $v2 + $v3
$v1 ≥ $v2
...
Phase
XBRL taxonomy development
process
Process
Analysis
Normalisation, labelling, data points,
metrics and dimensional
characteristics identification,
grouping and classification
MDPM
Analysis
Data and metadata modelling
Output
HDPM
Input
Mapping layer
Quality assurance
Internal testing and
review, public review
Feedback
Improvements
Updates
Data Point
Model
HDPM XBRL
Taxonomy
RTs and LOGs
MDPM
architecture
L2 (Final advice)
HDPM
architecture
L1 (Directive)
Participant
Encoding and
application of
architectural
principles and rules
MDPM XBRL
Taxonomy
Annotated
templates
Product
Taxonomy development
Regulators and businesses
EIOPA Business Experts
EIOPA Advisors
EIOPA Business Experts
EIOPA
Advisors
EIOPA Business Experts
EIOPA Advisors
EIOPA Advisors