xBReeze™ Compliance Reporting Edition for COREP/FINREP
reporting
Basel II is the second of the Basel Accords – recommendations
on banking laws and regulations issued by the Basel
Committee on Banking Supervision. Basel II uses a "three
pillars" concept - (1) minimum capital requirements,
(2) supervisory review and (3) market discipline - to
promote greater stability in the financial system. The
Committee of European Banking Supervisors are supporting
the use of XBRL in reporting FINREP (Financial Reporting)
and COREP (COmmon solvency ration REPorting framework)
in order to meet the new requirements of Basel II as
well as the International Finance Reporting Standards
(IFRS).
For banking institutions, required to submit
COREP/FINREP reports in XBRL under looming deadlines,
there is a solution. xBReeze™ Compliance Reporting
Edition for COREP/FINREP reporting is a packaged solution
that reduces the time and effort of complying with these
new requirements. With xBReeze, your compliance reporting
team is relieved of the need to learn XBRL.
The solution combines pre-built and tested Excel-based
templates with UBmatrix Report Builder, a plug-in application
for Microsoft® Excel. Once reporting information has
been imported or filled out in the template, Report
Builder validates the data and produces the XBRL document
required for compliance. As compliance rules change,
UBmatrix provides the necessary updates through the
xBReeze on-demand server. At the beginning of each reporting
period, users can download the latest template from
xBReeze server and begin assembling their report.
Click
here to find out more about xBReeze™ Compliance
Reporting Edition for COREP/FINREP reporting.
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