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XBRL US submitted a comment letter to the Small Business Administration (SBA) regarding the collection of data for the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The XBRL US letter recommends that the SBA and other regulators administering large relief fund programs like the CARES Act, leverage data standards to vastly increase efficiency, improve […more]
The Securities and Exchange Commission (SEC) published the final rule for Update of Statistical Disclosures for Bank and Savings and Loan Registrants. The rule amends disclosures required to be reported, and codifies certain disclosures in a new Subpart 1400 of Regulation S-K. The original proposed rule asked whether the disclosures should be included in the […more]
The Small Business Administration (SBA) published a request for comment regarding the collection of information related to the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Comments are solicited on 1) whether information collected is necessary for the agency to perform its functions; 2) whether burden estimates are accurate, 3) whether there are ways to […more]
The Financial Accounting Standards Board (FASB) published proposed technical improvements for the 2021 SEC Reporting Taxonomy in a set of Release Notes for a review and comment period that ends November 2, 2020. Interested parties may provide comments on the proposed technical and other conforming improvements by emailing their comments to xbrl@fasb.org or by sending […more]
Every U.S. bank submits financial call report data to the Federal Deposit Insurance Corporation (FDIC) in machine-readable format. Banks have been reporting this way since 2005. Watch this video for a conversation with Mark Montoya, Senior Business Analyst of Data Strategy at the FDIC, who was one of the founders of the XBRL FDIC data […more]
The Securities and Exchange Commission published the draft 2021 SEC Taxonomies. The draft taxonomies are out for a public review and comment period to end November 2, 2020.
The Sustainability Accountability Standards Board (SASB) published two governance documents: Conceptual Framework and Rules of Procedure, for a public review and comment period set to end November 30, 2020. The Conceptual Framework sets out the basic concepts, principles, definitions, and objectives that guide the Standards Board and technical staff in the SASB’s approach to setting sustainability disclosure […more]
XBRL US submitted a comment letter in response to the SEC’s draft Closed-End Fund (CEF) Taxonomy which has been prepared to support the SEC rule for Securities Offering Reform for Closed-End Investment Companies. We recommended that the Commission: Rely on the XBRL International Data Type Registry in determining data types. Consider structuring the DEI Taxonomy, […more]
XBRL US submitted a comment letter in response to the SEC’s Extension of Data Collection of Form 6-K. We recommended that Form 6-K filers be required to prepare cover pages for 6-Ks using Inline XBRL, in the same way that Form 8-K cover pages must be prepared with the passage of the FAST Act. Investors […more]
To aid service providers and XBRL software providers, the FASB published Extensible Enumerations 2.0 Implementation Impact on Service Providers and XBRL Creation Software – Are You Ready? which addresses the implementation of Extensible Enumerations 2.0 in the 2021 US GAAP Taxonomy. Read the impact study.
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