EBA publishes draft version of its revised taxonomy architecture

EBA has announced that it has published a draft version of its revised taxonomy architecture, which will be used to implement improvements introduced by the DPM Refit.
The revisions aim to simplify the structure by removing unnecessary artifacts, such as normative codes for taxonomy frameworks, while also introducing historisation of certain concepts. The revisions have been produced jointly by the EBA, the EIOPA, and Eurofiling.
The revised taxonomy architecture will remain compliant with normative XBRL specifications and use functionalities provided by the standard.
The release of the revised taxonomy architecture is expected to improve the efficiency of the DPM Refit project and simplify the representation of the model. It is hoped that the new architecture will unify the architectures of the EBA and EIOPA taxonomies, which have previously required vendors to make customizations to their tools.