XBRL

What is XBRL?  

XBRL (eXtensible Business Reporting Language) is a standardized language used for transmitting and analyzing financial data. It is a royalty-free open data standard developed by the XBRL International consortium, a not-for-profit group of companies and agencies. It aims to simplify the exchange of information between different systems and organizations.  

It is utilized in over 60 countries worldwide, in almost 220 XBRL reporting implementations, largely for regulatory and supervisory purposes. 

XBRL consists of two document types: 

• XBRL Taxonomy, is a digital dictionary that defines business concepts used in reporting. These taxonomies provide metadata such as labels, definitions, references, and validation rules, enabling software to accurately interpret and process reported data. The “X” in XBRL stands for “eXtensible,” meaning that it is possible for a company, depending on the framework in which it operates, to extend a taxonomy so that it best reflects its own unique activity. 
• XBRL Instance Document, is a business report that includes fact values for concepts linked to a taxonomy and associated with a context that determines the identity of the declaring entity, as well as the date or period of each fact. XBRL instance documents come in various formats: XML, CSV or JSON. 

What are iXBRL and OIM?   

iXBRL - Inline XBRL  

iXBRL is part of the XBRL Standard, enabling a single document to provide both human-readable and structured, machine-readable data.  iXBRL is used by millions of companies around the world to prepare financial statements in a format that delivers the structured data that regulators and analysts require, while also allowing preparers to retain full control over the layout and presentation of their reports. 

In practical terms, an iXBRL report is a webpage (HTML or xHTML) that presents a business report whose declared facts are attached to a taxonomy through its code using tags. 

OIM – Open Information Model 

The OIM is a strategic initiative by XBRL International aimed at simplifying and modernizing important aspects of the XBRL Standard. This innovative approach provides new and simpler ways to work with XBRL data. It defines a model that represents the meaning of the XBRL Standard, without referencing syntax specifics. It then defines multiple interchangeable formats that can be added to over time. 

Today, three distinct formats are supported:  

• XBRL-CSV to collect huge quantities of granular data 
• XBRL-JSON to make XBRL data simpler to use 
• XBRL-XML for traditional approaches 

Why is it important to use XBRL for financial regulatory reporting? 

XBRL plays a pivotal role in financial regulatory reporting by standardizing the data format, streamlining data exchange, enhancing data precision and transparency and enabling effective analysis of financial information. 

• Improved reporting efficiency
  By converting data to XBRL at the point of capture, financial institutions can automate the entire reporting process, from data collection to report submission. Adopting a unified and open global data standard streamlines the consolidation of different (often Excel-based) reports from individual and/or siloed business units to centralized teams within the organization. It also enables firms to deploy flexible out-of-the-box software that can be applied to data immediately without customization, improving efficiency and reducing the overall cost, implementation time and maintenance burden. 
• Increased data consistency and comparability
  In XBRL, items of data are tagged using a hierarchy of labels defined in a taxonomy. These labels can be in multiple languages, enabling the standard to be leveraged seamlessly across multiple jurisdictions. Data can be tagged multidimensionally, making it simple to filter information by a wide range of criteria. In addition, taxonomies contain coherency checks and rules regarding the treatment of data, so inconsistencies can be flagged at the point of input or conversion to XBRL. Data validation checks are embedded in the reporting templates, and any inconsistencies or anomalies can be identified before submission to the regulator.  
• Enhanced transparency
  By providing machine-readable data, XBRL enhances the comparability and accessibility of financial information, making it easier to prepare reports at the level of data granularity required by regulators. 

XBRL and Data Point Modelling

Data Point Modelling (DPM) is a methodology used by the European Banking Authority (EBA) and other European supervisory authorities to define, structure and organize regulatory reporting data. It provides a clear and unambiguous definition of each datapoint required for reporting, ensuring consistency and comparability. DPM and XBRL are closely linked: DPM provides the structured representation of reporting requirements, while XBRL enables those requirements to be represented, exchanged and validated in a machine-readable format

In 2020, the EBA and European Insurance and Occupational Pensions Authority (EIOPA) launched the joint DPM Refit project to modernize and harmonize the DPM methodology. The initiative resulted in DPM Standard 2.0, published in June 2023, designed to accommodate the increasing volume, granularity and complexity of regulatory data while reducing complexity, duplication and maintenance costs.

DPM has since continued to evolve. In March 2024, the EBA, EIOPA and European Central Bank (ECB) established the DPM Alliance to jointly govern the standard, with the Single Resolution Board (SRB) participating as an observer. The Alliance is now developing DPM 2.1, which builds on DPM 2.0 and supports greater convergence across supervisory, resolution and statistical reporting.

The relationship between DPM and XBRL remains central to metadata-driven regulatory reporting: DPM provides a structured representation of reporting requirements, while XBRL supports standardized data exchange and validation.

The evolution of DPM also supports the broader move towards integrated reporting, including the ECB's Integrated Reporting Framework (IReF). DPM 2.1 introduces capabilities designed to support the integration of ECB statistical data, including IReF, with existing prudential and resolution reporting frameworks

The move to XBRL-CSV 

As part of its transition to DPM 2.0 and Taxonomy Architecture 2.0, the EBA has progressively introduced XBRL-CSV across its reporting framework. For reports with reference dates from 31 March 2026, submissions and resubmissions to the EBA are required in xBRL-CSV format, with certain newer reporting requirements having adopted the format earlier.

The transition to DPM 2.0 has now progressed across the EBA reporting framework, replacing the previous parallel implementation language that applied during the transition period. 

XBRL-CSV is a modern, scalable evolution of the traditional XBRL format, optimized for handling large volumes of structured, granular data through CSV files supported by JSON-based metadata. An XBRL-CSV report is a structured package linked to an XBRL taxonomy, where metadata defines the layout, context, and validation rules. This architecture allows for significant file size reduction, while enabling faster processing, easier automation, and more flexible integration with regulatory systems.  

Regnology XBRL-certified solutions 

Regnology has successfully completed the XBRL certification tests for three of our solutions. Each one has proved its full compliance with industry standards. 

Below are details on the solutions and modules for which we are certified: 

• Validating Processor: Regnology XBRL Engine 
• Review and Consumption Software: Regnology Supervisory Hub - Data Collection 
• Report Creation Software: Regnology ESEF