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The European Insurance and Occupational Pensions Authority (EIOPA) publishes updated information on the Data Point Model and XBRL taxonomy design that have been developed in accordance with EIOPA Guidelines on Submission of Information to national competent authorities.
The updates are implemented in the Data Point Model (Solvency II DPM Dictionary, Solvency II Annotated Templates and validations file) and in the XBRL Taxonomy files.
Principles, rules and design approaches used in the current publication are still under consideration and subject to further changes.
In the first quarter of 2015, EIOPA intends to publish the release schedule for the XBRL Taxonomy and the Filing Rules. The latter will be applicable both for the preparatory and full phases of the Solvency II implementation.
Harmonised EU-wide reporting formats are crucial to ensure a consistent implementation of the European regulatory and supervisory frameworks. They support EIOPA’s goal to improve convergence and efficiency of supervision of financial institutions’ practices across Europe.