The Capital Requirements Regulations (CRR) came into force in January 2014 - this includes the implementing technical standards (ITS) for reporting, ie the guidance, templates, technical standards and validation required for reporting COREP and FINREP to supervisors.
Validation and filing rules
Validation rules for CRD IV are defined by the EBA. See their website for the validation rules that apply to each version of the taxonomy, including their severity:
- EBA Blocking rules will be set as ERROR in Gabriel (ie rejection of the file)
- EBA Non-blocking rules will be set as WARNING (warnings will be accepted, but firms should look to investigate the cause and resolve them for future submissions)
- EBA Deactivated rules will be set as DISABLED (ignored)
In addition to validation rules, we also apply filing rules based on the EBA published rules and additional rules exclusively for UK filers. Our list of filing rules lists the rules we will apply, illustrates what each rule verifies and what error message will be received if a rule is not passed. Please use this guide to resolve any issues before contacting us with queries.
FCA Filing Manual
The Filing Manual contains the rules and guidance for firms and software vendors when creating XBRL instance files for COREP and FINREP reporting.
Data point model and taxonomy
To ensure the ITS on supervisory reporting requirements are implemented consistently, the templates described in the Annexes have been translated into a data point model (DPM) which in turn is used to generate the taxonomy.
The DPM is a structured representation of the data, identifying all the business concepts and its relationships, as well as validation rules and the taxonomy is the vehicle that enables data to be shared in line with the DPM structure.
These are artefacts that are developed by the EBA and along with the accompanying documentation, contain all the relevant technical specifications necessary for developing an IT reporting solution. Firms should ensure they keep abreast of any changes to these artefacts by the EBA.
See the EBA website for the current versions of these items.
Taxonomy entry point mapping to Gabriel
For information on how to build a connection to the Gabriel direct submission gateway for COREP and FINREP reporting, and how to format an XBRL instance for both direct submission and web upload, please refer to our updated technical information page.