With the taxonomy 2.9 reporting framework, the European Banking Authority (EBA) has introduced a new classification for its validation rules. The previous categories have been replaced by two classifications: “error” and “warning”.

Both classifications entail different processing steps. The “error” category corresponds to the previous procedure for a breach of “blocking” errors: i.e. in the event that an error occurs at initial validation, the XBRL rules with a severity of “error” result in the report being rejected (similar to the previous “blocking” category). A correction report is mandatory in this case.

In the case of “warnings”, a new procedure has to be applied since the rule breach does not necessarily lead to a rejection of the report and resubmission. The Bundesbank has augmented the current reporting procedure by providing a technically supported application specifically designed for submitting explanations for “warning” rules. This will be available for reporting institutions to use when submitting ITS reports in accordance with taxonomy 2.9 as of the 31 March 2020 reporting reference date.