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.
- Draft 2019 SEC XBRL Taxonomies - November 30, 2018
- Proposed Update to Future* U.S. GAAP Financial Reporting Taxonomy - November 27, 2018
- Inline XBRL Requirements in Draft EDGAR Filer Manual (Volume II) EDGAR Filing (Version 49) - November 26, 2018
- Draft 2018 Order Routing and Handling Data Schema and Report Renderer for Broker-Dealers - November 21, 2018
- Custom Tag Rates in IFRS XBRL Exhibits Submitted in 2017 and U.S. GAAP XBRL Exhibits Submitted in 2011 and 2017 - November 20, 2018
From the Federal Register
- Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts - November 30, 2018
- List of Rules To Be Reviewed Pursuant to the Regulatory Flexibility Act - November 27, 2018
- Proposed Collection; Comment Request - November 26, 2018
- Disclosure of Order Handling Information - November 19, 2018
- Regulatory Flexibility Agenda - November 16, 2018