Rapid deployment team accelerates Asset Encumbrance filing in XBRL for large international investment bank

Asset Encumbrance (AE) reporting seems to have taken a few financial firms by surprise. It is one of the quarterly XBRL reports that must be submitted by all organisations reporting under the CRD IV COREP mandate, and must be filed in XBRL format.

With less than a week to go to the first Asset Encumbrance reporting deadline on 12th February, a large international investment bank requested help from CoreFiling to file their first AE report in due time. Our True North® XBRL processor immediately came to the rescue.

Continue reading “Rapid deployment team accelerates Asset Encumbrance filing in XBRL for large international investment bank”

Asset Encumbrance – how ready are you?

There’s not much time left to organise your Asset Encumbrance reporting. The first reference date is 31st December, 2014, with a reporting deadline of 11th February, 2015. All firms subject to COREP reporting under the CRD IV mandate will have to submit an Asset Encumbrance report and, in common with all COREP disclosures, the new Asset Encumbrance report must be submitted as an XBRL document.

The EBA defines Asset Encumbrance as follows: “An asset shall be treated as encumbered if it has been pledged or if it is subject to any form of arrangement to secure, collateralise or credit enhance any transaction from which it cannot be freely withdrawn”. Therefore, the number of templates required will depend upon the size and nature of the reporting entity, but at least one template must be filed on a quarterly basis.

The good news is that CoreFiling’s cloud-based Seahorse® XBRL disclosure management product already contains all the required templates, reducing the stress for firms that now find they have to submit these new filings.