The Central Bank of Ireland (CBI) has recently informed of a newly published XBRL Taxonomy 2.3 that introduces new XBRL versions of a number of existing returns for Fund Service Providers and Investment Firms.
In 2021, firms in the jurisdiction began reporting to the CBI using a new XBRL reporting format . This change aligns the CBI with other European regulators who have also transitioned from Excel-based reports to XBRL.
For those of you unfamiliar with XBRL – it stands for eXtensible Reporting Business Language. The main purpose for moving to this reporting format is that it means that information can be in a machine-readable format (albeit illegible to anyone not trained in code) and therefore be disseminated globally, regardless of the country it’s reported in.
In the updated version of CBI XBRL Taxonomy 2.3, two new frameworks for XBRL reporting have been introduced for entities:
CBI Asset Disclosures (CBIAD)
It consists of 3 business rules, 3 tables and the following modules:
- QADÂ Non-Irish Authorised Funds Quarterly Assets Disclosure
(NIAF Non-Irish Authorised Funds Quarterly Returns) - ACDÂ Asset Concentration Disclosure
CBI Capital Requirements (CBICR)
It consists of 298 business rules, 37 tables, and the following modules:
- OFRÂ Own Fund Requirements Fund Administrator
- CASÂ Capital Adequacy Statement
- MCRÂ Minimum Capital Requirement
- MCR_DÂ Minimum Capital Requirement Depository
- MCR_MGRÂ Minimum Capital Requirement AIFMs and UCITS Managers.
Built to address the scale of changes required for the entire CBI reporting framework.
- Create reports based on CBI XBRL taxonomies for submission in XBRL format.
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- Test models and rules on sample reports.
- Level up your reporting practices with the support of all CBI Conversions including PRISM, FINREP PLUS, QSFR, Quarterly Assets Under Management, Monthly Monitoring Metrics and others. See the full list here.
- Ensure ultimate compliance with the latest CBI reporting requirements using automated data validation and consistency checks.
- Identify and fix data issues with interactive validation navigation that guides you directly to the root of any data quality problems.
- Experience the simple & secure way of working with the Desktop application or Web version of the tool.
