In the first such move by a central bank worldwide, the Bank of England (BoE) has stepped up its calls for financial institutions to take action on climate change with the release of a set of proposed supervisory rules.
A new Prudential Regulatory Authority (PRA) report examines how climate change poses financial risks to banks and how they are responding.
Using a big data approach to drive analytics of large quantities of XBRL data, with necessary data structuring, aggregation, ordering and filtering controlled directly from the XBRL taxonomy (the business-led data definitions) has been something of a holy grail for regulators and other large scale users of the standard for many years.
Chairman of the global Financial Stability Board and Governor of the Bank of England, Mark Carney, was just one of the leading regulators around the world to call for new measures to reign in cryptocurrencies this week. Mr Carney warned that a range of crypto assets are exhibiting the “classic hallmarks of bubbles”. In a speech […]
Perhaps more noteworthy than the recent launch of a new polymer £10 note [very droll – Ed] , the Bank of England published a public working draft (PWD) of its ring-fencing taxonomy to govern reporting around the UK regulator’s requirement to split retail and investment banking. The PWD follows the release of Policy Statement 3/17 – […]
The UK’s central bank has opened up applications for a new round of its FinTech accelerator program and one of the areas it would like to explore is big data storage of XBRL. According to the regulator, 70%-80% of its regulatory data is in XBRL format and they are interested in new ways to realise […]
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
