BOE Banking XBRL Taxonomy

Since the end of 2016, Bank of England decided to collect additional data on regulatory reporting of CRD IV (COREP and FINREP) and in 2018 the Prudential Regulation Authority (PRA) released an extended version of the Bank of England Banking XBRL taxonomy which incorporates “Pillar 2 liquidity data” and “MREL reporting”

The PRA regulated CRD IV firms (banks, building societies and designated investment firms) need to report Cash Flow Mismatch Risk (PRA 110) from 1 July 2019 and firms notified by the Bank of England need to report MREL data (MRL001-MRL003) on an individual basis from January 2019 at the earliest, in XBRL format.

Solution

Invoke, the European leader in regulatory reporting has already supported clients in processing and production of CRD IV reports for PRA. Hence, to enable CRD IV firms in the UK to respond rapidly and regularly to new reporting requirements, Invoke has extended its Bank of England (BoE) taxonomy product line to PRA110 and MREL reports in XBRL.

Already tried and trusted in 30 countries to meet European and Domestic regulatory requirements in the Banking and Insurance sectors, Invoke’s solution manages production of CRD IV (COREP, FINREP) and the BoE taxonomy within a single solution.

Minimal impact in the event
of regulatory changes

Full maintenance of the complete standard configuration, coupled with an optimised application architecture, guarantees unrivalled lead times when regulations change.

An easy-to-use
business-oriented solution

Simple and easy-to-use solution thanks to a 5 key step workflow process: data collection, display, control, validation and XBRL generation.

A standard package for quick implementation

The standard multi-regulation platform encapsulates all CRD firms’ data (COREP, FINREP and Bank of England taxonomy) in a single solution and reduces the cost of implementation. Invoke maintains and guarantees all standard features with every regulatory change.

Formulas included in the templates based on XBRL validations

Comparing to XBRL Utility (XBRL-enabled Excel worksheet), the solution provides better data quality as it integrates formulas in the templates based on validations.

our clients
EBA
Direct Line Group
Amundi
Swiss_Re
Canaccord
Oaktree
The Carlyle Group
BNP
about_us
With offices in Paris, London, Luxembourg, Lisbon and Stockholm, Invoke provides financial, regulatory and tax reporting solutions. It is a regulatory technology partner of choice to supervisory bodies worldwide (European Banking Authority (EBA), ACPR-Banque de France, Deutsche Bundesbank, Bank of Israel, ...), as well as to financial institutions who fall under the scope of complex regulatory imperatives such as CRD IV, Solvency II, FATCA, CRS/AEoI or CbCR reporting. Incorporating next-generation technology, advanced data-governance, collaborative workflow and disclosure management features, Invoke software solutions associate a decade of technical expertise with extensive domain knowledge.