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Using XBRL to Reengineer a Data Collection and Collaboration Process

Presenter 1
Linda Powell
Federal Reserve Board

In 2003, three U.S. banking regulatory agencies combined resources to revolutionize the collection, editing, storage, and dissemination of Commercial Bank Reports of Income and Condition. The regulatory agencies relied heavily on web-based technology and the XBRL transmission protocol. This paper will review the creation of an interagency data collection and dissemination facility. It will focus on the business problem that needed to be solved, the evolution of the technology that enabled the project, and what is XBRL and why was it selected as the transmission protocol. The paper will also review the challenges and benefits associated with using a standard transmission protocol versus creating a customized XML transmission facility.

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