GLEIF published the semantically correct model in the form of a taxonomy relevant to integrating the Legal Entity Identifier (LEI) into eXtensible Business Reporting Language (XBRL). XBRL, which is the open international standard for digital business reporting, is managed by XBRL International, a global not-for-profit consortium. GLEIF has initiated work, together with other organizations that are using the LEI as an element in their standards and standard frameworks, to develop semantically correct models of LEI data records relevant to the integration of LEI into other key standards.
The purpose of the project is to represent the LEI in a standard way in key standards and to make available the same documentation, in terms of context, text, and element descriptions, regardless of the differing graphical representations or syntax of the LEI in other standards. The initiative also facilitates providing the LEI in machine-readable form to enable its inclusion in the technical representations of other standards. This will result in correct and consistent usage of the semantic representation of the LEI and its reference data by each organization. Consequently, stakeholders will have one semantically correct model in each standard for the LEI and its reference data. GLEIF establishes and participates in the relevant formal groups for development work on the semantic representations of the LEI and its reference data with the standards organizations.
Keywords: International, Banking, Insurance, Securities, XBRL, Taxonomy, LEI, Semantically Correct Model, XBRL International, GLEIF
EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.
EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.
MAS published the guidelines on individual accountability and conduct at financial institutions.
APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.
SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.
FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.
ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.
OSFI published the key findings of a study on third-party risk management.
FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.