XBRL within Dutch Banks VIII European Banking Supervisors XBRL Workshop Amsterdam November 6, 2007
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Getting you there.
XBRL within Dutch BanksVIII European Banking Supervisors XBRL Workshop
AmsterdamNovember 6, 2007
Fortis | FIRE³ | 21 April 2023 | 2
Introduction
XBRL within Fortis
Adoption of XBRL within Dutch banks
Agenda
Fortis | FIRE³ | 21 April 2023 | 3
Introduction
Paul Rothwell
KPMG, Manager Financial Services
Email: rothwell.paul@kpmg.nl
Phone: +31 20 656 8095
Alexander Carp
Director Fortis Integrated Reporting Enablers³
Email: alexander.carp@fortis.com
Phone: +31 30 2263863
Fortis | FIRE³ | 21 April 2023 | 4
Introduction
XBRL within Fortis
Adoption of XBRL within Dutch banks
Agenda
Fortis | FIRE³ | 21 April 2023 | 5
15/12/07 15/04/08 15/05/08 15/06/0801/10/07
Design Build QANL Q1 08GO LIVE
FinRep NL (XBRL not mandatory)
Design Build QALU Q1 08GO LIVE
FinRep LU GO LIVE
Design Build QABE Q1 08GO LIVE
FinRep BE+ Pillar II BEGO LIVE
15/03/08
FR Q4 07GO LIVE
Design Build QAFinRep FR GO LIVE
Functional requirements - regulatory deadlines
Fortis | FIRE³ | 21 April 2023 | 6
Which tool for which reporting ?
Reporting Level of reporting Production XBRL output
Statutory FRS FRS FINREP
Consolidated Magnitude UBMatrix Statutory
COREP Consolidated
Fermat Fermat
Central Bank Statutory Magnitude UBMatrix
Fortis | FIRE³ | 21 April 2023 | 7
Scope - architecture
Magnitude
Taxonomy DesignerReport Builder
FinRep (BE – LU – FR – NL) + Pillar II (BE)
Regulators (BE – LU – FR – NL)
Download taxonomies and report templates
Fortis | FIRE³ | 21 April 2023 | 8
FINREPReport
FinancialData
FinancialData
EntréeAppuiemploi
EntréeAccompagnementpersonna
lisévers
l'emploi
EntréeAccès à
laformation
Entrée
Accompagneme
ntpersonnalisé
avecappuisocia
l
Totalentrées
Juill. 1999
EntréeAppuiemploi
EntréeAccompagnementpersonna
lisévers
l'emploi
EntréeAccès à
laformation
Entrée
Accompagneme
ntpersonnalisé
avecappuisocia
l
Totalentrées
Août 1999
Jeunes à 6 mois hors RMI
Adultes à 12 mois hors RMI
Jeunes CLD à 12 mois
Adultes CLD à 24 mois
Bénéficiaires du RMI
Autres publics
Total Publics menacés par exclusion
TOTAL Public
ALEMACON
1 0 0 0 1 2 0 0 0 2
5 9 2 0 16 4 1 1 0 6
0 1 0 0 1 0 0 0 0 0
21 29 3 2 55 11 24 2 2 39
3 8 1 2 14 2 12 3 2 19
0 10 2 0 12 2 3 0 2 7
23 38 3 4 68 13 32 4 4 53
29 57 7 4 97 21 36 5 6 68
Taxonomies and report templates
XBRL Database
Scope - next step
Magnitude
ETL layer
External reports
Fortis | FIRE³ | 21 April 2023 | 9
FINREPReport
FinancialData
FinancialData
EntréeAppuiemploi
EntréeAccompagnementpersonna
lisévers
l'emploi
EntréeAccès à
laformation
Entrée
Accompagneme
ntpersonnalisé
avecappuisocia
l
Totalentrées
Juill. 1999
EntréeAppuiemploi
EntréeAccompagnementpersonna
lisévers
l'emploi
EntréeAccès à
laformation
Entrée
Accompagneme
ntpersonnalisé
avecappuisocia
l
Totalentrées
Août 1999
Jeunes à 6 mois hors RMI
Adultes à 12 mois hors RMI
Jeunes CLD à 12 mois
Adultes CLD à 24 mois
Bénéficiaires du RMI
Autres publics
Total Publics menacés par exclusion
TOTAL Public
ALEMACON
1 0 0 0 1 2 0 0 0 2
5 9 2 0 16 4 1 1 0 6
0 1 0 0 1 0 0 0 0 0
21 29 3 2 55 11 24 2 2 39
3 8 1 2 14 2 12 3 2 19
0 10 2 0 12 2 3 0 2 7
23 38 3 4 68 13 32 4 4 53
29 57 7 4 97 21 36 5 6 68
Taxonomies and report templates
XBRL Database
Interactions - possible future architecture
Magnitude
Operational Risk
COREPReport
Other systems
MarketRisk
Fermat
ETL layer
Project scope
BI systemsData Warehouse
FRAS
External reports
Crew
Fortis | FIRE³ | 21 April 2023 | 10
Introduction
XBRL within Fortis
Adoption of XBRL within Dutch banks
Agenda
Fortis | FIRE³ | 21 April 2023 | 11
Round table discussion2 November 2007
• Participants• Fortis
• ABN AMRO
• Rabobank
• ING
• SNS REAAL
• De Nederlandsche Bank (DNB)
• Autoriteit Financiële Markten (AFM)
• XBRL Nederland
• Nederlandse Vereniging van Banken (NVB)
• KPMG
• Objectives• Exchange experiences with XBRL
• Discuss the potential business case for banks
• Explore possibilities for working together
Fortis | FIRE³ | 21 April 2023 | 12
Current status of XBRL within banks
• General conviction that an overall information/data standard is required, XBRL could be it
• Many banks have considered XBRL and have decided to await further development
• No actions planned by banks to further explore potential unless mandatory
• Banks remain very interested in future national and international developments that could renew interest in XBRL and fuel the business case
Fortis | FIRE³ | 21 April 2023 | 13
Scenario’s for using XBRL within banks
• Annual reports commercial clients
• Efficiency & speed
• Accuracy of risk assessment
• Client driven• Invoicing
Commercial banking
Banks & Customers
• Total information requirements
• Performance&compliance driven
• (Sub)Group & functional level
• Multi-dimensional
+
Master Data Management
Banks (internal)
• COREP/ FINREP
• IFRS/ US GAAP
• Tax & statistics
+
Reporting
Banks & Supervisors
Fortis | FIRE³ | 21 April 2023 | 14
• COREP/ FINREP
• IFRS/ US GAAP
• Tax & statistics
+
Reporting
Banks & Supervisors
• Total information requirements
• Performance&compliance driven
• (Sub)Group & functional level
• Multi-dimensional
+
Master Data Management
Banks (internal)
• Annual reports commercial clients
• Efficiency & speed
• Accuracy of risk assessment
• Client driven• Invoicing
Commercial banking
Banks & Customers
• DNB can receive XBRL
• AFM will provide support
• NTP for Dutch GAAP, tax & statistics
+
Reporting
Banks & Supervisors
• XBRL not powerful for multi-dimensional
• Reporting vs. data standard
• Mapping master data to taxonomies
+
Master Data Management
Banks (internal)
• NTP for companies
• Credit Taxonomy
• Endorsed by software suppliers & accountants
Commercial banking
Banks & Customers
Current status of the scenarios
Fortis | FIRE³ | 21 April 2023 | 15
Strengths International standard for reporting that is
gaining momentum Endorsed by the Dutch government Someone is keeping the fire alive
Threats E-Line already fills the gap that XBRL
is trying to fill Master Data is a strategic asset for
banks Difficult to discuss subject at Senior
Management level Not a strong business case XBRL is not mandatory
Opportunities Banks are following developments to build-
up knowledge XBRL for operational efficiency when
receiving company data Opportunity for insurers who are at the
beginning of their regulatory ‘revolution’ Local authorities see the benefits
Weaknesses Financing the implementation, who will
pay, who will benefit? Timing: already many costly initiatives
that must be implemented Limited depth of taxonomies, not
suitable for multi-dimensional data (storage and retrieval)
National standardization is perceived as only going half-way
SWOT analysis XBRL from the banking industry’s perspective
XBRLXBRL
Fortis | FIRE³ | 21 April 2023 | 16
Conclusions
• Less haste, less waste: how to obtain a truly international standard (i.e. taxonomy) for reporting?
• As long as it is not mandatory, banks and authorities alike will remain hesitant to adopt it
• Business case is only evident on the receiving side of the information chain, but no material advantages are expected soon
• Who should take the lead? Everyone is waiting for each other to start
• General conclusion: structure and standardization is good thing and XBRL could play an important role
Fortis | FIRE³ | 21 April 2023 | 17
Next steps
• The participating banks have agreed to meet again in half a year time to discuss these developments and their response
• Other departments (not only reporting) should be involved where the business case is more evident: front-office
Fortis | FIRE³ | 21 April 2023 | 18
Whose sweet is this anyway?
Fortis | FIRE³ | 21 April 2023 | 19
“The train is riding, but not as fast as we thought”
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