IXEuropeanBankingSupervisorsXBRLWorkshopSURFI.ppt

Banque de FranceSecrétariat général de la Commission bancaire IX European Banking Supervisors XBRL Workshop  SURFI : Unified FInancial Reporting System Presentation overview 1. Commission bancaire IT strategy 2. Focus on SURFI - strategic and functional aspects - building of the taxonomies - the present “BAFI” system - SURFI IT project 1. Commission bancaire IT strategy Main IT strategy elements : Implement the new COREP and FINREP reports in compliance with the European harmonized framework Follow the CEBS recommendation to adopt XBRL in order to foster harmonization Change our reporting framework, promote harmonization and streamlining, launch the SURFI project Modernize our banks rating system and IT studies system 1. Commission bancaire IT strategy In this framework, progressive, but complete change of our reporting system… …in 3 stages: COFINREP project implementing COREP et FINREP specifications: beginning of 2006 – mid 2008; MODEC project modernizing the civil status data gathering: June 2007 – 1st semester 2010; SURFI project modernizing and streamlining regulatory data gathering: April 2008 – June 2010 1. Commission bancaire IT strategy COFINREP project It permitted the implementation of the Basel II and IFRS impacts on the regulatory reports… … following the CEBS recommandations about the use of the XBRL standard for harmonized European COREP et FINREP reports. Launched in 1993, the present BAFI system, using a proprietary data format, couldn’t be upgraded to reach the new specifications. A finished project : New functionalities since September, dedicated to the supervision staff (e.g. specific reports); Next improvment : the implementation of the ? tolerance margin ?. 1. Commission bancaire IT strategy MODEC project Offering to the banking industry a state-of-the-art interactive software dedicated to civil status processes ; Being able to get live data transmission from banks and give them feedback ; Taking i