FASB is consulting on the XBRL US Data Quality Committee (DQC) Rules Taxonomy (DQCRT) and an accompanying technical guide. The DQCRT is used in connection with submission of filings to SEC and for public review as well. The comment period on the consultation ends on November 18, 2019. The DQCRT will be updated based on changes made to the taxonomy during, and after, the public comment period and before the formal SEC approval of the release of the 2020 taxonomy. A final version of DQCRT will be issued with the final taxonomy and will be included in the 2020 US GAAP Financial Reporting Technical Guide. The purpose of the accompanying technical guide is to provide technical details for the XBRL US DQCRT.
XBRL US DQC Rules are proposed to be included in the DQCRT with the taxonomy to improve exposure to and compliance with the DQCR rules. This initial implementation is limited to three rules. Over time, additional rules are likely to be included. The DQC rules are XBRL US published validation rules for XBRL filings with SEC. The DQCRT includes the DQC rules in a derivative form that identifies the concepts the rules apply to, with necessary information for software and human readers to understand the rule and the elements it applies to. The proposed DQCRT is built on the 2019 taxonomy because the 2020 taxonomy is not yet available for use. Therefore, all file and URI references in this document are to the 2019 taxonomy and a proposed “2019 DQCRT.” Both will be updated to 2020 at final release. The potential changes include additions for new elements as well as deletions for elements deprecated in the 2020 taxonomy.
The intended audience for this document is a technical user familiar with XBRL, other specifications, and modules of XBRL, XML Schema, XSLT stylesheets, and so forth. Business users may be interested in this document and it is written such that a business user familiar with the technologies (XBRL, XML Schema, XSLT, and so forth) will be comfortable with this document. The guidance to conform to SEC XBRL filing requirements is available in SEC EDGAR Filer Manual and other information provided on the SEC website.
- Notification (PDF)
- Proposed Update
- Proposed XBRL US Rules Taxonomy
- Proposed DQCRT (ZIP)
- Proposed Technical Guide (PDF)
Comment Due Date: November 18, 2019
Keywords: Americas, US, Banking, Insurance, Data Quality, DQCRT, XBRL, Taxonomy, Technical Guide, Reporting, SEC, FASB
The European Commission (EC) published the Delegated Regulation 2021/1527 with regard to the regulatory technical standards for the contractual recognition of write down and conversion powers.
The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to provide guidance to authorized deposit-taking institutions on the interpretation of APS 120, the prudential standard on securitization.
The Single Resolution Board (SRB) published a Communication on the application of regulatory technical standard provisions on prior permission for reducing eligible liabilities instruments as of January 01, 2022.
The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to clarify the regulatory capital treatment of investments in the overseas deposit-taking and insurance subsidiaries.
The European Banking Authority (EBA) published the final report on the guidelines specifying the criteria to assess the exceptional cases when institutions exceed the large exposure limits and the time and measures needed for institutions to return to compliance.
The Prudential Regulation Authority (PRA) issued the policy statement PS20/21, which contains final rules for the application of existing consolidated prudential requirements to financial holding companies and mixed financial holding companies.
The European Banking Authority (EBA) revised the guidelines on stress tests to be conducted by the national deposit guarantee schemes under the Deposit Guarantee Schemes Directive (DGSD).
The European Commission (EC) announced that Nordea Bank has signed a guarantee agreement with the European Investment Bank (EIB) Group to support the sustainable transformation of businesses in the Nordics.
The Hong Kong Monetary Authority (HKMA) issued a circular, for all authorized institutions, to confirm its support of an information note that sets out various options available in the loan market for replacing USD LIBOR with the Secured Overnight Financing Rate (SOFR).
The Office of the Comptroller of the Currency (OCC) issued a new "Problem Bank Supervision" booklet of the Comptroller's Handbook. The booklet covers information on timely identification and rehabilitation of problem banks and their advanced supervision, enforcement, and resolution when conditions warrant.