XBRL REPORTING FOR THE
EUROPEAN BANKING AUTHORITY (EBA)

The national supervisors inside the European Union (EU) has been delivering financial reporting data to the European Banking Authorities (EBA) for more than three years now in the XBRL format. Furthermore we have seen a lot of the EU countries transferring the adoption of XBRL down to the individual reporting entities. This means that a lot of companies inside the banking and financial industry as of today does their financial reporting to their local authority in the XBRL format.

How to report XBRL to EBA (or local authority)

There is a number of possibilities on how to report COREP, FINREP etc. to EBA. Usually the reporting entity uploads XBRL data to their local authority (FSA), who will collect, validate and deliver the reports to EBA. The types of solutions we typically see can be divided into the following:

  • End-to-end reporting package solutions – which covers the full value chain from the raw data input to the final XBRL reports. Often we see these solutions at larger banks and financial companies, where there has been a long preparation and implementation period. These kind of solutions links data sources directly into a reporting software package that can generate, calculate and produce reports. The insolvent of consultants in these scenarios are typically permanent.
  • Semi-automated reporting solutions – is based on some kind of manual or semi-automated user input. This is a common used solution in the middle segment inside financial reporting. The solutions rely on the reporting entity inputting the values in the different reports, which typically is calculated and inserted by the entity themselves. We also see larger financial companies, that makes their own calculating solutions in-house in databases or similar platforms which is transferred to e.g. Excel that makes the source data that’s inserted into a input based reporting solution. Input based reporting solutions is often based on Excel, which in some kind of extend is converted into XBRL.
  • Manuel input based reporting solutions – is often seen in online solutions where users input their values manually into the designated reports, which then will be converted to XBRL. Next time reporting has to be done, the user usually will start over, which means that none of the data or links can be re-used.
EBA reporting types

Asset Encumbrance (AE)

Financial Reporting (FINREP)

Liquidity Coverage Ratio (LCR)

Common Reporting (COREP)

Large Exposures (LE)

Net Stable Funding Ratio (NSFR)

You may also have heard the EBA reporting being mentioned as the Capital Requirement Directive (CRD IV) or the Capital Requirements Regulation (CRR). This is the name for the official directive stated by the EU, approved by the European Parliament.

ParsePort offering on EBA reporting

ParsePort offers all varieties of XBRL reporting solutions for EBA. We service large financial companies, where the XBRL process is automated and integrated into their systems. In these kind of solutions the XBRL engine part is provided by ParsePort.

ParsePort also offers the ability for reporting entities to use Excel as the reporting input tool. This enables entities to either link data into Excel through formulas, database lookups etc. But users can also insert their data manually or by copying it from other sources. Once the reports are ready, users simply click a button in Excel, and the report is now being validated instantly and converted into XBRL in real-time – all within seconds.

All ParsePort solutions has the ability to extract, convert, validate, generate and show XBRL files, including XBRL files for EBA.

Auditors use XBRL

In some countries auditors also review and sign off on the XBRL files for financial companies. In these cases the need of an XBRL reader and validator is viable. Furthermore to ensure that the XBRL files are unchanged an algorithm calculates a long hashkey, which can be compared to a DNA string. If anything is changed in the XBRL file, the hashkey will also change. This way the auditor can review and sign off on a specific XBRL file with a specific hashkey.

ParsePort offers this service among with a lot of other smart functionalities to auditors across the EU.

Let's talk about XBRL

XBRL REPORTING FOR THE
EUROPEAN BANKING AUTHORITY (EBA)

The national supervisors inside the European Union (EU) has been delivering financial reporting data to the European Banking Authorities (EBA) for more than three years now in the XBRL format. Furthermore we have seen a lot of the EU countries transferring the adoption of XBRL down to the individual reporting entities. This means that a lot of companies inside the banking and financial industry as of today does their financial reporting to their local authority in the XBRL format.

How to report XBRL to EBA (or local authority)

There is a number of possibilities on how to report COREP, FINREP etc. to EBA. Usually the reporting entity uploads XBRL data to their local authority (FSA), who will collect, validate and deliver the reports to EBA. The types of solutions we typically see can be divided into the following:

  • End-to-end reporting package solutions – which covers the full value chain from the raw data input to the final XBRL reports. Often we see these solutions at larger banks and financial companies, where there has been a long preparation and implementation period. These kind of solutions links data sources directly into a reporting software package that can generate, calculate and produce reports. The insolvent of consultants in these scenarios are typically permanent.
  • Semi-automated reporting solutions – is based on some kind of manual or semi-automated user input. This is a common used solution in the middle segment inside financial reporting. The solutions rely on the reporting entity inputting the values in the different reports, which typically is calculated and inserted by the entity themselves. We also see larger financial companies, that makes their own calculating solutions in-house in databases or similar platforms which is transferred to e.g. Excel that makes the source data that’s inserted into a input based reporting solution. Input based reporting solutions is often based on Excel, which in some kind of extend is converted into XBRL.
  • Manuel input based reporting solutions – is often seen in online solutions where users input their values manually into the designated reports, which then will be converted to XBRL. Next time reporting has to be done, the user usually will start over, which means that none of the data or links can be re-used.
EBA reporting types

Asset Encumbrance (AE)

Financial Reporting (FINREP)

Liquidity Coverage Ratio (LCR)

Common Reporting (COREP)

Large Exposures (LE)

Net Stable Funding Ratio (NSFR)

You may also have heard the EBA reporting being mentioned as the Capital Requirement Directive (CRD IV) or the Capital Requirements Regulation (CRR). This is the name for the official directive stated by the EU, approved by the European Parliament.

ParsePort offering on EBA reporting

ParsePort offers all varieties of XBRL reporting solutions for EBA. We service large financial companies, where the XBRL process is automated and integrated into their systems. In these kind of solutions the XBRL engine part is provided by ParsePort.

ParsePort also offers the ability for reporting entities to use Excel as the reporting input tool. This enables entities to either link data into Excel through formulas, database lookups etc. But users can also insert their data manually or by copying it from other sources. Once the reports are ready, users simply click a button in Excel, and the report is now being validated instantly and converted into XBRL in real-time – all within seconds.

All ParsePort solutions has the ability to extract, convert, validate, generate and show XBRL files, including XBRL files for EBA.

Auditors use XBRL

In some countries auditors also review and sign off on the XBRL files for financial companies. In these cases the need of an XBRL reader and validator is viable. Furthermore to ensure that the XBRL files are unchanged an algorithm calculates a long hashkey, which can be compared to a DNA string. If anything is changed in the XBRL file, the hashkey will also change. This way the auditor can review and sign off on a specific XBRL file with a specific hashkey.

ParsePort offers this service among with a lot of other smart functionalities to auditors across the EU.

Let's talk about XBRL

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