The most significant, long-standing XBRL programs in the U.S. are regulatory implementations, mandated by the U.S. Securities Exchange Commission (SEC) and the Federal Financial Institutions Examination Council (FFIEC).
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FDIC ReportingThe FFIEC program, initiated in 2005, requires over 6,000 banks to provide their call report financial data in XBRL format.The FFIEC now also collects FDIC Summary of Deposit data from 5,000 banks as well. Bank regulators have recognized significant benefits from the use of standards and continue to expand on this program into other areas for public and for internal use. |
SEC ReportingThe SEC requires XBRL for reporting by public companies, credit rating agencies and mutual funds. XBRL US developed the initial releases of the US GAAP Financial Reporting Taxonomy which is now managed by the Financial Accounting Standards Board (FASB). Public companies have been reporting in XBRL since 2009 and XBRL US provides education and training programs to help filers. XBRL US has also initiated a data quality program designed to address issues that have been raised by investors about the quality and consistency of the reported data. This program involves the creation of a Data Quality Committee which develops guidance and validation rules that can prevent or detect inconsistencies or errors in XBRL data filed with the SEC. |
From the News from the SEC's Office of Structured Disclosure
- Draft 2024 Daily Market Data Report (DMDR) Schema and Renderer - April 1, 2024
- Draft 2024 Security-Based Swap (SBS) Taxonomy - March 27, 2024
- 2024 XBRL Taxonomies Update - March 19, 2024
- Cash Flow Statement Data Element Presentation - March 8, 2024
- 2024 Filing Fee Disclosure (FFD) Taxonomy - January 29, 2024
From the Federal Register
- Adoption of Updated EDGAR Filer Manual - April 19, 2024
- The Enhancement and Standardization of Climate-Related Disclosures for Investors - March 28, 2024
- Special Purpose Acquisition Companies, Shell Companies, and Projections - February 26, 2024
- Regulatory Flexibility Agenda - February 9, 2024
- Adoption of Updated EDGAR Filer Manual - January 24, 2024
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