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).
The 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.
The 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.
- 2023 Share Repurchase (SHR) Taxonomy - September 19, 2023
- SEC Interactive Data Test Suite Update 67d-230901 - September 12, 2023
- Draft 2024 SEC Taxonomies - September 7, 2023
- FASB Technical and Other Improvements for 2024 SEC Reporting Taxonomy - September 7, 2023
- Tagging Allowance for Credit Loss Write-Offs and Credit Quality Indicator in Notes to the Financial Statements - August 11, 2023
From the Federal Register
- EDGAR Filer Access and Account Management - September 22, 2023
- Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews - September 14, 2023
- Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure - August 4, 2023
- Money Market Fund Reforms; Form PF Reporting Requirements for Large Liquidity Fund Advisers; Technical Amendments to Form N-CSR and Form N-1A - August 3, 2023
- Adoption of Updated EDGAR Filer Manual - July 18, 2023