Secrétariat général de la Commission bancaire
Direction de la Surveillance Générale du Système Bancaire
SURFI
Unified FInancial Reporting System
Banque de France’s financial data
collecting system in XBRL
19th XBRL International Conference
June 23th, 2009
Jean-Luc Menda
Deputy Director
Sylviane Delarue
Head of IT department
Commission bancaire
Banque de France
Presentation overview
1. A new Information System
2. Building the SURFI taxonomy
3. SURFI IT Project
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
1. A new Information System
Main IT strategy elements :
– Implement the new COREP and FINREP reports in compliance
with European harmonized framework
– Follow the CEBS recommendation to adopt XBRL in order to
foster harmonization
– Change our reporting framework, promote harmonization and
streamlining, launch the SURFI project
Banque de France – direction de la Communication
– Modernize our banks rating system and IT studies system
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
1. A new Information System
In this framework, progressive, but complete change of
our reporting system…
…in 3 stages:
•
COFINREP project implementing COREP et FINREP specifications:
beginning of 2006 – mid 2008;
•
MODEC project modernizing the civil status data gathering: June 2007
– 1st semester 2010;
•
SURFI project modernizing and streamlining regulatory data
gathering: April 2008 – June 2010
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY
SENSITIVITY LEVEL
LEVEL :: PUBLIC
PUBLIC
1. A new Information System
MODEC project
SURFI project
COFINREP project
MODEC project
Go live
SURFI project v.1
SURFI project v.2
SURFI Business study
Banking industry consultation
Taxonomies
building
Financial Agents Information System Upgrade
Beginning of 2006
Mid-2007
April 2008
End of 2008
SURFI Taxonomy
finalization
June
2010
Dec.
2010
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
1. A new Information System
COFINREP Project
• Allowed the implementation of the Basel II and IFRS impacts on the
regulatory reports…
• … following the CEBS recommandations about the use of the XBRL
standard for harmonized European COREP et FINREP reports.
• Launched in 1993, the present BAFI system, using a proprietary data
format, couldn’t be upgraded to reach the new specifications.
• A finished project :
– New functionalities since September, dedicated to the supervision
staff (e.g. specific reports);
– Next improvment : the implementation of the « tolerance margin ».
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
1. A new Information System
MODEC project
• Offering to the banking industry a state-of-the-art interactive software
dedicated to civil status processes ;
• Being able to get live data transmission from banks and give them
feedback ;
• Taking into account the new European regulatory requirements :
–
integrate new categories of banks, in compliance with european
directives,
–
and reinforce the disclosures (the directive on « Systems of
payment » requires the creation of an on-line registered bank
database »
• Allowing the 80 IT systems of BoF to have an easy real-time acces to
this system of reference (WEB site, WEB services, WEBSPHERE,
ORACLE)
• End of the project : 1st semester 2010 (this system of reference is
necessary for SURFI)
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
1. A new Information System
Present data collection system : BAFI
– Reporting entities : 910 MFIs – according to the French banking
law, id. broad definition -, and 156 investment firms
– 840 end-users within the Commission bancaire and the Banque
de France
– Coverage : data for statistical as well as prudential purposes,
but BoP data partially out of the scope
– Same database, but limited harmonization of concepts and
reporting formats, generating double collection of data
– On the technical side, database system based on a proprietary
system developed in 1993, therefore somewhat mature
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
1. A new Information System
Modernizing the reporting system
– Result of a discussion process with the banking industry
following the introduction of COREP and FINREP
– The industry requested :
• a significant reduction of the reporting burden
• the elimination of double collection of data for supervisory
and statistical purposes
• a better coordination in the definition of new reporting
requirements between Banque de France departments
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
1. A new Information System
Launched in June 2007, the main objectives of the project
– Harmonize data collection for supervisory and statistical purposes, in
eliminating double collection of data
– Alleviate the reporting burden through the streamlining of the entire
present reporting system
– Take fully into account the ECB statistical revision package and
articulate our own schedule
– Switch from a template centered approach to a data centrix approach,
capitalizing on our XBRL experience for COREP and FINREP.
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
1. A new Information System
Simplified scope of the project
(Tier 1) French Gaaps
( Tier 2) French Gaaps
(Tier 3) IFRS or French Gaaps
Monetary statistics
=France (1)
Prudential data
=France + branches abroad
=social accounts (2)
Consolidated
Prudential data (3)
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
1. A new Information System
Main results in terms of harmonization
– Broad harmonization between tier 1 and tier 2 data, relying on the same
accounting standards (French Gaaps) ;
– Limited between tiers 1 and 2 on the one side, and consolidated data
established either on IFRS or French Gaaps, depending on the
institution
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
1. A new Information System
Potential links between counterpart breakdowns
– Find bridges between the different reporting schemes (ESA95,
FINREP and COREP)
– Make it easier for MFIs to manage counterparty breakdowns
– Build a table allowing to bridge ESA95 counterpart sectors with SURFI
counterparts, as well as COREP and FINREP
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
1. A new Information System
Other achievements of the project
– Elimination of double collection of data : every data will be sent
once either for statistical or prudential purpose
– A significant reduction in the volume of data
– A more risk-based oriented system consisting of core information
sent by every institution, complemented by information sent
depending on the level of activity in different areas (thresholds
for interbank operations, financial instruments, credit…)
– Release the global taxonomy…
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
Presentation overview
1. A new Information System
2. Building the SURFI taxonomy
3. SURFI IT Project
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
2. Building the SURFI taxonomy
– The Commission Bancaire has followed a specific
method to build its SURFI taxonomy.
• to facilitate the collaboration between business-oriented staff
and IT specialists,
• and accelerate the global development process.
– This method is based on four main stages :
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
2. Building the SURFI taxonomy
1st stage
– Design of the SURFI future templates revised by three working
groups :
• the presentation rules have been determined
• regarding the format and the header, use of a specific colour
code to identify dimension names and their values, facts,
forbidden data, presentation labels
• the elements and dimensions codification will be
implemented at the same time.
– Templates validation by Monetary departments, banking
commission, ultramarine departments : just finalized.
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
2. Building the SURFI taxonomy
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
2. Building the SURFI taxonomy
2nd stage
– implementation of the working principles of the SURFI
taxonomy : building of «primary taxonomies and
dimensions».
– « primary taxonomies» elements come from :
– elements from the « accounting class data tree »
– other elements resulting directly from the
templates
– each element has its own concept name, label,
hierarchical links with other elements, regulatory
references .
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
2. Building the Surfi Taxonomy
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
2. Building the SURFI taxonomy
• the XBRL element name was determined from the element
labels belonging to the data tree or the templates.
• the normalisation of the template presentation and the data tree
elements made easier the automatic initialization of most of the
future taxonomies via a purpose-built tool.
• SURFI templates naming rules were validated by the users.
• templates were grouped by activity blocks (associated to a
threshold or a theme).
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
2. Building the SURFI taxonomy
3rd stage
• the « dimension taxonomies », their values and
their hierarchical order were elaborated.
• for each template : design of the hypercubes.
• choice of a modularized model of taxonomy
architecture (FINREP 1.3), in accordance with the
best practices.
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
2. Building the SURFI taxonomy
• Global architecture (templates et « primaries ») :
T-CARTO2008-1231.xsd
T-SURFI-2008-1231.xsd
t-sia-2008-31-12.xsd
t-ste-2008-31-12.xsd
t-sor-2008-31-12.xsd
…
T-BLANCHI2008-12-31.xsd
Independant taxonomies
72 templates
p-sia-200812-31.xsd
p-ste-200812-31.xsd
p-s02-200812-31.xsd
p-s08-200812-31.xsd
p-s04-200812-31.xsd
p-sxx-200812-31.xsd
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
2. Building the SURFI taxonomy
4th stage
 Implemention of all the business controls :
 Determine the expected controls typology (in March),
 Select those that can be implemented in the taxonomy with
the «formulae» recommendation
 Evaluate those which will be dealt with by specific
developments
 Draw up the exhaustive list of business controls (by the end of
May)
 Set up the formulae tables and integrate them into the
taxonomy.
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
2. Building the SURFI taxonomy
4th stage
 Focus on the controls typology : data controls







Basic operation (+ - / *), AVERAGES, MIN, MAX, ABS
EQUAL, GREATER, >=, LOWER, >=…
Alternative controls : IF … THEN … ELSE …
Inter-instances / inter-taxonomy controls (between COREP,
FINREP and/or SURFI)
Inter-templates controls (into a single taxonomy) vs Intratemplates controls
Existence of mandatory facts
Controls using fixed parameters.
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
2. Building the SURFI taxonomy
4th stage
 Focus on the controls typology : trigger controls






Tolerance margin (potentially depending on the control type)
From a templates list reported by the bank
« business card » data (including civil status data)
Remittance date,
Missing facts,
After reception of all the data to be compared.
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
2. Building the SURFI taxonomy
4th stage
 Focus on the taxonomy building

Because of the deadline of the IT project and the lack of
tools, we have to generate as automatically as possible the
formulae tables
 Quite easy for :
primary item aggregation,
dimension aggregation,
(of which) checking
 Quite difficult for the others
 Some will need specific processing
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
2. Building the SURFI taxonomy
• Some figures about SURFI Taxonomy :
–
–
–
–
72 templates (some of them with sub templates)
950 elements from the data logical tree
1550 elements outside the data logical tree
23 dimensions
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
2. Building the SURFI taxonomy
Timetable:
• End of September 2008 : 1st version of the templates .
• December 2008 : release of SURFI Taxonomy version 0.1.
• Beginning of April 2009 : release of version 0.2 (first
optimization)..
• End of June 2009: release of SURFI Taxonomy version 1.0
• June 2009 : 1st part of formulae links table building
• BUT : Supply of a technical paper, enclosing EXCEL
sheets describing all the required controls
• September 2009 : complete formulae links table building
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
Presentation overview
1. A new Information System
2. Building the SURFI taxonomy
3. SURFI IT Project
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
Current situation of IT system
BAFI
Civil statuts data
Financial
Institution
Information
System
Prudential and accounting
Reporting
Input
Output
Configuration
Accreditation
Bâle II
Inside
applications
CB/BDF
SIGNECB
COREP Instances
IFRS
FINREP Instances
Data
Control
and
management
Data
mining
XBRL
Taxonomy management
Accreditation
COFINREP
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
Focus on SURFI - IT part of the project
IT project milestones :
•
•
•
•
•
•
•
•
•
Launch of the project : beginning of June 2008
Requirements document created during the summer 2008
Open tender publication on the 31st of October 2008
Kick off with the chosen supplier at the end of February 2009
Global design validation en May 2009
Detailed studies are in progress
Opening of the tests platform for the external actors in January 2010
Opening of the 1st version of the SURFI portal in July 2010
Opening of the 2nd version of the SURFI portal in December 2010
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
General process of the SURFI project
Online Form
Fill in
Oracle
DB
BdF Portal
Instance
document
OneGate
XBRL files
Instance
document
DB storage
XBRL Processor
Taxonomy
Ubmatrix XPE
Output
Processor
Rendering Processor
INVOKE
SURFI
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
Scope of the IT Project
• « infrastructure » module
•
•
•
•
Easy navigation
Access rights management
Business Rules engine
Static data management
• « storage » module
•
•
•
•
•
ONEGATE (BDF Portal) exchange
XBRL & business controls (via formula or specific processing)
Storage in ORACLE DB (XBRL files & facts by facts)
Instances aggregation
Exceptions management
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
Scope of the IT Project
• « monitoring » module
•
•
•
•
Reporting duties defining (varying by threshold or activities)
Remittance monitoring
Mistakes or late data sending
Exceptions management
• «data use » module
• Operating monitoring
• Exporting to other IT systems
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
Scope of the IT Project
•
« reporting » module
• Design of :
• Regulation templates
• Synthesis (mono or multi-agents, mono or multi periods)
• Complex reporting (with different sources of information)
• « taxonomies management » module
• No solution today : It remains to be done
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
Main orientations
• Use of formula as well for FINREP & COREP
• Acceptance of partial data delivery (according to the SURFI rules of
data remittance)
• Instances delivery based on the SURFI master taxonomy, with
notification of the related templates
• Data aggregation and intra-instance controls will be immediately
processed
• Other control reports will be processed by night batch
• Use of external taxonomies will be possible ( e;g; COREP HOST)
• Small credit firms will be able to type their data into specific internet
pages (instead of sending an XBRL file)
• The retrieval of COFINRP data must be done
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC
Thank you for your attention !
Surfi: Unified Financial Reporting System
Banque de France – Secrétariat général de la Commission bancaire
SENSITIVITY LEVEL : PUBLIC