Multi-Currency Reporting in FINREP|COREP Taxonomy 2.5
The new EBA taxonomy version 2.5 will be used for reference dates from 31 December 2016 onwards. The updated taxonomy (published on March 8) includes minor corrections to all the EBA's XBRL reporting structures and one major change: Multi-Currency Reporting, meaning that the values reported should be expressed in their “currency of denomination”.
The Multi-Currency Reporting is relevant for reporting templates containing values that must be reported separately according to the currency denomination. Affected tables are part of the COREP Liquidity Coverage Ratio (LCR) and COREP Large Exposure (LE), have already existed in the previous version of the taxonomy. The Filing Rules, which represent a collection of additional rules and guidance specifically applicable to the banks, have prohibited the use of more than one currency in one instance so far. In general, monetary values in an instance had to be expressed in the same (“Single Reporting”) currency, i.e. values had to be converted to that currency (e.g. EUR).
With the taxonomy 2.5 the Filing Rule 3.1 is adapted to allow multicurrency reporting: the values reported are expressed in their “currency of denomination”. The AMANA XBRL Portal and the SmartNotes Eurofiler support you in creating multi-currency reports by automatically determining and setting the currency based on the selected dimension.
A further change is that the “Particular approach for position risk in CIUs” has been removed from the tables C 18.00 and C 21.00 and added in three rows to the table C 02.00 “Capital Adequacy – Risk Exposure Amounts”.
In addition, the table C 09.03 “Geographical breakdown of relevant credit exposures for the purpose of calculation of the institution-specific countercyclical buffer” has been replaced by the table C 09.04 (“Breakdown of credit exposures relevant for the calculation of the countercyclical buffer by country and institution-specific countercyclical buffer rate”). While in the table C 09.03 there was only one cell for the risk exposure, it has been replaced by 12 cells in the new table C 09.04.
In the tables C 07.00.a and b (Credit and counterparty credit risks and free deliveries) a row (015) has been added for every risk type.
In the FINREP taxonomy the fields for interest receivable and credit interest have been added to F 02.00.
The taxonomy version 2.5.0.1 can be downloaded from the EBA website (the German taxonomy including extensions can be downloaded from the Bundesbank website). The COREP and FINREP taxonomies are also available on the AMANA XBRL Cloud, including the converted into Excel reporting forms. Compliance with the new Filing Rules for Multi-Currency Reporting can be easily validated on the AMANA XBRL Cloud by uploading the XBRL instance document.
A detailed list of changes can be found in the Release Notes, which are available for download on the EBA website.
For more information on the FINREP|COREP visit AMANA XBRL Portal.