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.
- 2021 XBRL Taxonomies Update - March 23, 2021
- OSD Website to No Longer Support Transport Layer Security Versions 1.0 and 1.1 - March 18, 2021
- SEC Interactive Data Test Suite Update 57d-210219 - March 2, 2021
- FASB Issues Proposed Taxonomy Implementation Guides for 2021 U.S. GAAP Financial Reporting Taxonomy - February 24, 2021
- No Proposed Update to U.S. GAAP Financial Reporting Taxonomy for Accounting Standards Update on Goodwill Impairment - January 8, 2021
From the Federal Register
- Market Data Infrastructure - April 9, 2021
- Commission Information Collection Activities (FERC Form Nos. 2 and 2-A); Comment Request; Extension; Errata Notice - April 6, 2021
- Holding Foreign Companies Accountable Act Disclosure - April 5, 2021
- Revisions to the Filing Process for Commission Forms; Notice of Eforms Updates, Termination of Visual Foxpro Filings, and Extension of Filing Deadlines - March 30, 2021
- Modernization of Delegations of Authority to Commission Staff and Division and Office Descriptions - February 16, 2021