“XBRL - The eXtensible Business Reporting Language ”

US regulator reports major success from XBRL banking project

8/15/2011 3:39:04 PM   Bron: XBRL.org

The use of XBRL for regulatory bank reporting in the US has achieved major success, according to the FFIEC (Federal Financial Institutions Examination Council).  The FFIEC said its XBRL-based solution, which went live in October had achieved measurable benefits, with an increase from 66% to 95% in data cleanliness, 70% to 100% in accuracy, weeks to hours in timeliness and a 15% rise in the productivity of analysts. 

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