PRA published a public working draft of Version 3.4.0 of the banking XBRL taxonomy, along with the related technical artefacts. This version of the taxonomy is intended to support collection of Capital+, financial statements, and ring-fencing reporting. The taxonomy, data point model (DPM) dictionary, annotated templates, and validation rules represent the requirements within the consultation paper CP5/21 on implementation of Basel standards. PRA is inviting feedback, particularly from firms and software vendors, by May 03, 2021. This public working draft should not be used for reporting. PRA aims to publish the final version of the taxonomy and DPM by July 2021.
The taxonomy is aligned to the EBA Taxonomy 3.0 Phase 1 and PRA will adopt the EBA filing rules as published on the EBA website. In cases of minor discrepancies compared to the templates in the PRA Rulebook, PRA has consulted and will finalize the corresponding amendments to the PRA Rulebook templates at a later date. The release notes detail the changes introduced in this public working draft of the taxonomy and contain tables listing the changed and unchanged entry points. The notes state that table codes for Financial Statements reporting have been amended within this update to ensure a common pattern for table codes is used across all frameworks. To align an additional element was added to the Financial Statements table codifications. Within Taxonomy 3.0, EBA has moved to four-digit codes for some reporting templates by adding a leading zero. Where the base EBA template has seen this amendment, four-digit codes have also been reflected in the BoE taxonomy 3.4.0 public working draft. The template FS 701.00.02 has been restructured to improve the way the data modeling principles have been applied.
Additionally, BoE has refined the data model and taxonomy generation processes to ensure updates are made in a robust and automated manner. This public working draft has been produced using these refined generation processes; thus, there are some cosmetic differences in the outputs being published. Key differences are outlined below:
- Additions, deletions, and modifications are no longer highlighted according to the previous color convention. Instead, this information is provided in the new change log being published and this includes increased traceability on changes made to validation rules.
- Within the data dictionary, the domain owner has been added as a prefix to the worksheet names.
Comment Due Date: May 03, 2021
Keywords: Europe, UK, Banking, Reporting, DPM, Taxonomy, Version 3.4.0, Capital+, Ring Fencing, Validation Rules, Basel, Taxonomy 3.0, EBA, BoE, PRA
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