The Challenge

The European Union has transposed the Basel III regulatory framework for banks into European law, commonly called “CRD IV” (Capital Requirements Directive, version 4). CRD IV also applies to some investment firms. For most of them, providing these regulatory reports implies a high administrative burden. To support this process, the solution must be capable of:

  • Creating the XBRL reports; these are the files that are actually exchanged with the national competency authorities, built according to the specifications defined in the so-called ‘EBA taxonomies’
  • Entering and changing the values in a user-friendly way
  • Applying validation rules as defined by the EBA and the national competency authorities
  • Adapting easily to the evolution of these EBA taxonomies
  • Offering a workspace to each bank and investment firm where to manage its data safely and independently
  • Offering a comprehensive solution to cover all the reporting needs
  • Offering a framework for integrating XBRL production into their IT infrastructure

The Solution: Arelle, EBA Edition (AREBA)

AREBA is a light, standalone User Interface that supports the edition and validation processes of EBA XBRL instances in a safe and user-friendly manner. For instance, whenever the user is supposed to enter a code, he/she can choose it from a drop-down list where user-readable labels are shown instead of the codes.
The user focusses on what he/she should transmit to the national competency agency and not on how he/she should encode it to meet the EBA specifications.

AREBA applies all available quality checks published by the EBA and by the CSSF, the national competency agency for the Grand-Duchy of Luxembourg. The user gets an immediate feedback on the figures that do not pass the tests and he/she can immediately take a corrective action.

AREBA is an open source solution, based on Arelle, the XBRL open source project. No need to pay for the license, payment is only required for support. 
AREBA is an open solution and can be adjustable to any organization. 
Whenever the EBA issues a new version of the taxonomy or when the filing rules change, the ACSONE staff will update AREBA to make sure that the latest rules are properly handled.

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