XBRL regulatory reporting to the Securities Commission of

XBRL regulatory reporting to the Securities Commission of Spain José M. Alonso Comisión Nacional del Mercado de Valores (CNMV)

Financial Reporting Supply Chain Issuers Markets Broker- Dealers & Brokers Investors Official Registers & internal Applications Website Publications CD-ROM Settlement Entities& CSD Collective Investment Schemes FTP CII Management Firms Data Vendors Other Government Entities

Documents submission to the CNMV Supervised entities can submit documents to the CNMV: On paper or CD-ROM By electronic means using an e-administration service called CNMV on-line The CNMV on-line allows its users to send documents (several types of files are admitted) to the CNMV from any computer connected to the Internet. The files are previously encrypted and electronically signed by the user with a software application (CIFRADOC) provided by the CNMV free of cost. The encrypted files are attached to an e-mail addressed to a specific CNMV’s mail-box. The documents submitted by this means are as valid as the paper documents presented at the CNMV offices. More than 1, 100 entities are currently using this service

Issuers supervision ISSUE DATA Ø Issuing prospectuses Ø Listing prospectuses Ø OPV & OPA prospectuses Ø Placement information Ø Securitization information Listed Companies ISSUER DATA Ø Audit reports Ø Significant corporate events Ø Major holdings notifications Ø Public Periodic Information (IPP) (Quarterly & semi-annual reports) Ø Treasury stock information Ø Annual Corporate Governance Report Official Registers & internal Applications

IPP reporting to the CNMV (before 1/7/05) Listed companies Semiannual Report Creation template Quarterly Report creation template Data extracted from the report and incorporated to CNMV’s databases XML Signature validation and File decryption INTERNET XML The XML file was encrypted and electronically signed with CIFRADOC XML The encrypted XML file was sent by email to the CNMV

IPP Taxonomy • The IPP Taxonomy facilitates the listed companies’ regulatory reporting of Public Periodic Information to the CNMV, to fulfill the requirements of the CNMV’s official letter published in January 2005 • Four different models of report, depending on the type of entity, can be prepared with the IPP Taxonomy. - Insurance Companies Credit institutions Portfolio Management Companies General (Utilities, Telecommunications, transportation, . . ) Each model of report covers data on the individual entity and on its consolidated group, when the reporting entity is part of an economic group

Structure of the IPP reports COMMON DATA ELEMENTS Issuer identification Changes in the consolidated economic group Basis for presentation and valuation policies INSURANCE CO CREDIT INSTITUTIONS PORTFOLIO MANAGEMENT CO GENERAL Balance Sheet Profit and Loss statement Comparative Consolidated Balance Sheet Breakdown of the net turnover by activity Number of employees Business Development Issues, Reimbursements and Cancellations of debentures Dividends distributed Significant events Explanatory appendix relating to Significant events Operations with linked parties Special Audit report

IPP Taxonomy DGI IFRS-GP import IPP-MAS-PAT IPP-COMUN Common concepts to all type of reports Common concepts per type of entity import IPP-GEN import ES-BE-SF import IPP-SEG IPP-SOC import IPP-GEN-IND IPP-ENC IPP-SEG-IND IPP-SOC-IND import IPP-ENC-IND IPP-GEN-CON Specific concepts IPP-SEG-CON IPP-SOC-CON IPP-ENC-CON

Current IPP reporting to the CNMV XBRL files are published at the CNMV's website Listed companies Instance creation template (EXCEL) provided by the CNMV Soft XBRL INTERNET The XBRL file is encrypted and electronically signed with CIFRADOC IPP Taxonomy XBRL file is validated against the IPP taxonomy Information reported is incorporated to the CNMV’ databases Signature validation and File decryption XBRL The encrypted XBRL file is sent by e-mail to the CNMV

System architecture Soft XBRL IPP Template Access channels SMTP Interface CIFRADOC / Decrypt and sign checking Instance validation XBRL processor Storage Publishing of a significant event and updating of several web pages Data extracted from instance and loaded to databases. . . Internal application Alerts Publishing of reports XBRL reports

IPP Template Features • One single template to prepare all models of report • Storage of an unfinished report in a temporary file • Printout of the report in the official form (CNMV Official letter 1/2005)

XBRL, a working reality at the CNMV: - More than 9000 instances received at the CNMV and published on the website, submitted by 441 entities. Next step - In 2007 a new version of the IPP taxonomy to adapt the taxonomy to upcoming changes in regulation. - A new taxonomy to be used by the CII management firms to file with the CNMV the quarterly report that they provide to the mutual funds shareholders.

Possibility of using XBRL in the European regulatory reporting (1) Two EU Directives, TD (Transparency Directive) and Mi. FID (Markets in Financial Instruments Directive), to be implemented in 2007 contain requirements of reporting: • TD: Requires each EU country to have at least one Officially Appointed Mechanism to store regulated information (major holdings, significant events, financial statements…) on the issuers with securities admitted to trading on a regulated market. This information must be accessible to all European investors. Issuers XBRL OAM XBRL Investors

Possibility of using XBRL in the European regulatory reporting (2) • Mi. FID: Article 25 requires investment firms, markets and trading venues in general, which execute transactions in financial instruments admitted to trading on regulated markets to report details of such transactions to the appropriate Competent Authority (regulator) for the firm. The Competent Authorities shall establish the necessary arrangements in order to ensure that the Competent Authority of the most relevant market in terms of liquidity for those financial instruments also receives this information. Trading venues XBRL Local CA XBRL CA in terms of liquidity