CEBS conference on digital reporting

07 June 2005

XBRL and the Committee of European Banking Supervisors (CEBS) will host a conference to discuss internet-based reporting that enables better, faster, and more cost-effective business reporting in the financial sector. XBRL (eXtensible Business Reporting Language) is a two-year project financed by the European Commission within the 6th Framework Programme to speed up the use of the eXtensible Business Reporting Language.

The European banking industry is being confronted with increasing requirements regarding reporting processes, both in their relationships with clients to whom they extend credit and with supervisory authorities to whom they are accountable. New technical and regulatory developments are changing the way these reporting requirements are met. Introduction of digital reporting, based on open standards, allows for more frequent and more detailed reporting at lower costs and results in increased insight and transparency.

Press release
 

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