FINREP XBRL reporting

​The Financial Supervisory Authority (FIN-FSA) will change to an EU-harmonised XBRL format for the FINREP reporting starting from the reporting date of 30 June 2016. Investment firms’ and fund management companies’ financial reporting continues in CSV format.

For the FINREP reporting by banks, FIN-FSA changes to the XBRL format established by the European Banking Authority (EBA). The change will simplify FIN-FSA’s reporting management. In connection with the changeover, the national items in the FINREP reporting will be left out. After the change, all XBRL reporting established by the EBA will be implemented in the same way (COREP, FINREP, AE, FP) and FIN-FSA’s XBRL reporting application can also be used for FINREP reporting. The reporting application will be launched in June 2016. In April the instructions for FINREP reporting in electronic form will be disclosed to the reporting institutions who report directly from their own systems.

The reporting of financial statement information by investment firms and fund management companies will continue in CSV format. The reporting contents will comprise

a) a small part of FINREP contents established by the EBA without the previous national domestic/foreign distinction and

b) the additional data (tables FA and FT) required for the national supervision.

A separate supervision release will be published on the reporting institution level contents of both reporting groups, 1) banks and 2) investment firms and fund management companies.

For additional information, please contact

• Mikko Koutaniemi, Chief Systems Analyst, tel. +358 10 831 5223 or mikko.koutaniemi(at)fiva.fi
• Sinikka Taskinen, Analyst, tel. +358 10 831 5239 or sinikka.taskinen(at)fiva.fi