The Federal Financial Institutions Examination Council's has rolled out a new call-reporting modernization project based on the use of Extensible Business Reporting Language.
XBRL is a technology that tags financial information through disparate applications and carries it through the business reporting chain, can lower costs and provide enhanced analytical capabilities for users, preparers and consumers of financial statements . The Securities and Exchange Commission is working on efforts to standardize the language's use for the filing of public company and investment company financial reports.
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