# Presentation: 190077

## XBRL in the New Call Reporting ProcessXML Working Group Wednesday, April 21, 2004 

## What is the CDR? 

- CDR = Central Data Repository ~ *a storage facility*
- Share data rather than copy data
- Uses Internet-based business reporting language
- Standard language for expressing content
- Supports a real-time data dissemination process
- Leverages existing resources
- Internal – meta-data
- External – technologies and industry standards

## CDR Objectives

- Increase the efficiency of collecting Call Report data from respondents and releasing the data to users (FFIEC, other government entities, and the public)
- Enhance the FFIEC’s ability to quickly incorporate new business requirements into the Call Report process
- Adopt a collaborative, interagency approach to collecting, validating, processing, and distributing Call Report data
- Enhance Call Report data integrity, accuracy, and consistency

## Why use XBRL?

- Provides a database-like structure, using text files
- Defines a collection of financial facts for a specific report, industry, and jurisdiction (taxonomy)
- Facilitates the data exchange between proprietary systems
- Promotes the re-use of data with far less effort

**Notes:**
Taxonomy is an XML vocabulary defined by the set of tags and attributes established for it.

##  Why use XBRL for Call Reports?

- Call Report data is a key input for bank oversight and industry analysis
- Call Report data structures are well-documented and broadly used
- More than 8,400 institutions report quarterly
- Currently collect 2,000 data fields
- Nearly 400 pages of instructions
- 1,500 edit formulas to promote data quality
- Used for bank supervision, deposit insurance assessments, industry analysis, and other purposes
- XBRL promotes effective data exchanges across legacy systems without significant re-programming

##  Benefits for Bankers and Vendors

- XBRL can help lower long-term costs
- Little or no impact on bank legacy systems
- Improved data quality and timeliness
- Vendor products easier to maintain and leverage
- XBRL frameworks are “extensible”
- Developing additional frameworks can be simplified when data requirements are shared
- Many institutions report similar data items to federal, state, and local governments
- Potential to consolidate efforts in the future

## XBRL in the New Call Report Process

- Publish business rules (meta-data) electronically through the CDR
- XBRL taxonomies for content, instructions, edits, etc.
- Open standard facilitates use by disparate Call Report preparation software products
- Historical data to support data validation available from CDR

## Call Report Meta-Data

- The set of documents that describe a Call Report
- Report Instructions
- Concept Definitions
- Business Rules
- Validation Criteria
- Agencies will use XBRL to describe the same information

## Meta-Data Repository

**Meta**
**Data**

**Dictionaries**
***XBRL Schemas***

**Concept Definitions **
**& Presentation**

**Reporting**
**Instructions**

**Quality**
**Assurance**

**System**
**Specifications**

**Data Access**
**Rules**

**Business**
**Rules**

## Dictionaries

- Standard data naming convention
- FRS’s Micro Data Reference Manual
- Standard used for all data series
- Standard customer information
- FRS’s National Information Center
- Standard customer ID
- FRS’s ID_RSSD
- Begin and End dates ~ *version control*

## Concepts

- Call Report represents one of 60+ data series collected from financial entities by the agencies
- Current Call Report series
- FFIEC 031 ~ *banks with domestic *&* foreign offices*
- FFIEC 041 ~ *banks with domestic offices only*
- Content
- Unique data name
- Line number
- Line description
- Begin and End dates ~ *version control*

## Reporting Instructions

- General Instructions
- Schedule Instructions
- Line-by-line instructions
- Include
- Exclude
- Begin and End dates ~ *version control*
- Currently PDF

## Quality Assurance

- Technical ~ format
- Accuracy ~ mathematical
- Business ~ comparisons & relationships
- Consumes meta data
- Provides standard
- Error messages
- Exceptions, classifications, and remarks
- Begin and End dates ~ *version control*

## Business Rules

- Reporting basis
- Averaging techniques
- Growth rates
- Annualization rates
- Income derivation
- Merger adjustments
- Tax-equivalency adjustment

## XBRL Components/Terminology

**XBRL Components/Terminology**

**XBRL-Taxonomy**

**XBRL- Instance**

**XSL - Style Sheet**

**XBRL-Specification**

**Schema and**
**Linkbases**

**Schema: dictionary of terms**
**Linkbases: set of links to manage references, labels and relationships **

**Framework**

**1 or more taxonomies =**

**Rules to govern creation of XBRL-compliant files and conformance to the specification**

**A collection of financial facts for a certain period of time for a reporting entity.  By purpose, industry, and jurisdiction.**

**‘****Output’ from tagging data using one or more taxonomies**

**Presentation or transformation of tagged data**

## XBRL Global Taxonomy Structure

**(USA)**

**Global Common Document**

**CI**

- FinancialReporting

**XBRL Global Taxonomy Structure**

**IAS**
**(International)**

- Tax/KPI Reporting

- Nation A

- Nation B

**CI**

**US GAAP****CI**

**Insurance**

**Banks &****Savings**

**EDAP**

**PFS**

## What Is a Taxonomy?

- Definition: a division into ordered groups or categories
- An XBRL taxonomy is a description and classification system for the contents of financial statements and other business reporting documents
- Taxonomies represent up to hundreds of individual business reporting concepts, mathematical and definitional relationships

## North American XBRL GAAP Framework and US Bank Regulatory Framework

**Global** **Common Document**

- NAFR
**General Concepts**

**NAFR**
**Primary Terms**

**Bank & Savings**
**Institutions**

**U.S. Bank Regulatory Framework**

## US Financial Reporting (USFR) Taxonomy Framework

**Primary Terms****(usfr-pt)**

**Company Extension**

**Management Report****(usfr-mr)**

**General Concepts****(usfr-gc)**

**Instance Document**

**Global Common ****Document****(int-gcd)**

**Accountants****Report****(int-ar)**

**SEC Certification****(usfr-sec-cert)**

**Notes and Management****Discussion and Analysis**** (usfr-namda)**

**US Financial Reporting (USFR) Taxonomy Framework**

**Financial Services Terms****(usfr-fst)**

**US GAAP BASI ****(us-gaap-basi)**

**Company Extension**

**Instance Document**

**Notes:**
int-gcd:  Document and Entity Information
Int-ar:  Accountants Report
usfr-gc:  Assets, Liabilities, Owners Equity, Income/Revenue, Expense, Revenue (SFAS 6)
usfr-pt:  Cash, Accounts Receivable, Accounts Payable, Land, Buildings
us-gaap-ci:  US GAAP C&I – Commercial and Industrial industry-specific concepts
usfr-sec-cert:  Results of recently-passed SEC mandate to have officers of public companies sign off on financial statements
usfr-namda:  Notes to the Financial Statements, Management Discussion and Analysis (MD&A)
Usfr-mr:  Management assertion about financial information
Company Extension:  Deposits,  Deferred Revenue, Investment Income

## XBRL Concepts

- XBRL is an extension of XML
- For Call Report use it will be defined as a set of files referred to as an XBRL framework
- For Example:
- Validation Criteria
- Report Instructions
- Business Rules
- FFIEC 031 and 041 Presentation
- FRB Micro Data Reference Manual
- Consists of XML files and XSD files
- Utilizes the concept of linkbases which provides the ability to link XML files together

## XBRL Detail Concepts

- XBRL Taxonomies
- Defines a set of business report concepts that can be used in the exchange of financial information.  The concept types are further defined in an XSD file.

- <XBRLTags>
- 	<Tag name=”***Name***”\>
- 	<Tag name=”***Address***”\>
- 	<Tag name=”***Revenue***”\>
- 	<Tag name=”***Expense***”\>
- 	<Tag name=”***SubmissionPeriod***”\>
- </XBRLTags>

## XBRL Detail Concepts

- Instructions
- Instructions can be associated with each XBRL tag element that is defined.

- <Instructions>
- 	<Instruction tag=”***Name***”>
- 		Enter the business name
- 	</Instruction>
- 	<Instruction tag=”***Revenue***”>
- 		Enter the revenue for the current period
- 	</Instruction>
- 	<Instruction tag=”***Expense***”>
- 		Enter the expense for the current period
- 	</Instruction>
- </Instructions>

## XBRL Detail Concepts

- Business Rules
- Business Rules can be defined for business reports and forms by using a syntax language that refers to XBRL tags and predefined functions.  Examples of functions, validations, or edits could be:
- Expense > 0
- Revenue > PREVIOUS(Revenue)

- <Calculations>
- 	<Calculation tag=”***Name***” function=”**MustExist(*****Name*****)**”
- 		error=”Name must exist”/>
- 	<Calculation tag=”***Revenue***” function=”**PREV(*****Revenue*****)** < ***Revenue***”
- 		error=”Revenue must increase”/>
- 	<Calculation tag=”***Expense***” function=”***Expense > 0***”
- 		error=”Expense must be greater than zero”/>
- </Calculations>

## XBRL Detail Concepts

- Instance files
- Instance files contain data for a business form or report.

- <InstanceData>
- 	<Data tag=”***Name***” value=”First Union Bank” />
- 	<Data tag=”***Period***” value=”2002-03-31” />
- 	<Data tag=”***Revenue***” value=”13893288” />
- 	<Data tag=”***Expense***” value=”293388” />
- </InstanceData>

## XBRL Detail Concepts

**Putting it all together:**
- The files can be linked together to create the complete picture of a business report or form.

## Transport Mechanism

- Web Services
- SOAP
- WSDL
- Security
- WS-I
- SSL
- Connectivity requirements
- Adequate bandwidth with Internet connectivity