XBRL News: DRR, G-SII & SDMX

Here is our pick of the 3 most important XBRL news stories this still slow summertime week.

1 Digital Regulatory Reporting Rules 

Have you been involved in a regulatory reporting project for OTC (ISDA) products? In my career I took responsibility for implementing EMIR reporting for a well known UK CCP, so I have first hand experience on the trials in delivering data. 

Regtech is a growing application space for XBRL et al. Given the transaction values (and risks) involved, OTC derivatives are a domain worth while investigating in order to reduce fat fingers and / or high latency reporting. The FCA project page the report links to has been moved here btw.

2 EBA updates data used for the identification of G-SIIs

The European Banking Authority (EBA) published 12 indicators and updated the underlying data from the 37 largest institutions in the EU, whose leverage ratio exposure measure exceeds EUR 200 bn. This end-2019 data contributes to the internationally agreed basis on which a smaller subset of banks will be identified as global systemically important institutions (G-SIIs), following the final assessments from the Basel Committee on Banking Supervision (BCBS) and the Financial Stability Board (FSB).

EBA is acting as the EU data hub towards BCBS. They are also providing the Legal Entity Identifier to facilitate identification of institutions for the first time. The granularity of information made available to the public leaves room for improvement, though.

3 The business case for SDMX

The purpose of this document is to introduce the business case for SDMX. The expected audience for this document is senior and middle management as opting for SDMX is a critical business choice rather than a technical choice.

Our interest in SDMX is due to the fact that this reporting format is in use with some international organisations and the Swiss National Bank, which requires its use by Swiss banks for reporting purposes. The document we link to thrilling as it gives rise to cognitive dissonance on two accounts: One – Although the title contains the words “business case”, there’s little business in it. Two – While SDMX is an up-to-date data format, the document’s typography reminds us a bit of the 1980ies – in the best way possible, of course!

 

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Christian Dreyer CFA is well known in Swiss Fintech circles as an expert in XBRL and financial reporting for investors.

 We have a self-imposed constraint of 3 news stories each week because we serve busy senior leaders in Fintech who need just enough information to get on with their job.

 For context on XBRL please read this introduction to our XBRL Week in 2016 and read articles tagged XBRL in our archives. 

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