XBRL Used in the Global Capital Markets

XBRL International's New XML-based Specification Now Being Used by World's Leading Financial Services Institutions, Government Regulators and Software Developers

Michael Sanderson, CEO of Nasdaq Europe, Addresses Importance of XBRL Use in the Capital Markets

Berlin, Germany. March 5, 2002,

XBRL International announced today that adoption and use of XBRL is gaining momentum worldwide. During its 4th International conference in Berlin, NASDAQ Europe CEO Michael Sanderson addressed delegates from more than 20 countries on the importance of XBRL (eXtensible Business Reporting Language) as a means to unclog the information pipeline between companies and investors, analysts, and regulators.

Preparers and users of financial information can now exchange financials across all software and technologies to provide greater efficiencies in the global capital markets using the specification.

In addition to hosting the international meeting in Berlin, the German jurisdiction announced that XBRL taxonomy for German Accounting Principles has been released. German companies can now use XBRL as they move forward with implementation to obtain straight-through reporting efficiencies.

Deutsche Bank, one of the world's largest financial services institutions, has begun using XBRL to process loan information and streamline its credit analysis process. Deutsche Bank's adoption of XBRL follows closely on the announcement by Bank of America that it has begun to pilot XBRL for the same purpose in the U.S. For banking institutions, XBRL is designed to facilitate straight-through reporting of loan and credit analysis information between credit applicants and the lender while significantly reducing errors and shortening the amount of time needed to process the information.

"XBRL will helps us achieve straight-through reporting of financial information in our lending process, streaming data directly from our clients' general ledgers to our credit analysis database," said Norbert Flickinger, Vice President, Credit Risk Management, Deutsche Bank. "XBRL allows us to spend more time on analysis and less time gathering data. XBRL also gives banks the ability to provide businesses with benchmarking data they can use to position their operations more effectively in the marketplace."

The Australia Prudential Regulation Authority (APRA) recently became the first banking regulator in the world to use XBRL to monitor the financial well being of 12,000 Australian super funds, insurers and banks required to report to APRA on a regular basis. APRA is sharing this aggregated data with the Australian Bureau of Statistics and the Reserve Bank of Australia for benchmarking and trend analysis. In the United States, the Federal Deposit Insurance Corporation (FDIC) recently announced its desire to use XBRL for regulatory reporting for U.S. banks in the near future.

"We're pleased to see the high level of involvement with the XBRL initiative from market leaders in the financial services, software, government and accounting sectors," said Walter Hamscher, Chair of the XBRL International Steering Committee. "The release of the XBRL specification along with the IASB, UK, German and General Ledger taxonomies means that companies can now begin leveraging XBRL in more efficiently preparing, analyzing and distributing financial information to investors, analysts and other stakeholders. Financial services companies and regulators are anticipated to quickly adopt XBRL to more effectively meet their lending and regulatory processing needs."

In other adoption news, Reuters and Microsoft announced that they have published their financial statements using XBRL. By publishing financial statements in XBRL, Reuters and Microsoft provide easier access to their company's financial data and more efficient analysis capabilities to investors, analysts, accountants, regulators and others on the financial information supply chain.

In addition, the London-based International Accounting Standards Committee Foundation (IASC Foundation), an XBRL member, is expected to announce this week that the Core IASC Foundation taxonomy of XBRL for Financial Statements has been released. The IASC Foundation taxonomy, which is based on the Bound Volume of the International Accounting Standards, will help many countries, including Germany and those in Europe and Asia, to develop and implement XBRL for financial statements using a common set of data tags that will correspond to specific line items within a company's chart of accounts. Once financial information has been tagged in XBRL it allows straight-through reporting; greater interoperability; more powerful analysis across all software formats.

About XBRL International

XBRL International is a global consortium of more than 140 of the world's largest accounting, technology, government and financial services bodies devoted to developing and promoting the adoption of XBRL. More information about XBRL can be found at www.xbrl.org.

Prepared by Robin Cover for The XML Cover Pages archive. References in "Extensible Business Reporting Language (XBRL)." See also "XBRL Standard for Capital Markets Enjoys Growing International Adoption."

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During its 4th International conference in Berlin, NASDAQ Europe CEO Michael Sanderson addressed delegates from more than 20 countries on the importance of XBRL (eXtensible Business Reporting Language) as a means to unclog the information pipeline between companies and investors, analysts, and regulators. Preparers and users of financial information can now exchange financials across all software and technologies to provide greater efficiencies in the global capital markets using the specification. In addition to hosting the international meeting in Berlin, the German jurisdiction announced that XBRL taxonomy for German Accounting Principles has been released. German companies can now use XBRL as they move forward with implementation to obtain straight-through reporting efficiencies. Deutsche Bank, one of the world's largest financial services institutions, has begun using XBRL to process loan information and streamline its credit analysis process. Deutsche Bank's adoption of XBRL follows closely on the announcement by Bank of America that it has begun to pilot XBRL for the same purpose in the U.S. For banking institutions, XBRL is designed to facilitate straight-through reporting of loan and credit analysis information between credit applicants and the lender while significantly reducing errors and shortening the amount of time needed to process the information. "XBRL will helps us achieve straight-through reporting of financial information in our lending process, streaming data directly from our clients' general ledgers to our credit analysis database," said Norbert Flickinger, Vice President, Credit Risk Management, Deutsche Bank. "XBRL allows us to spend more time on analysis and less time gathering data. XBRL also gives banks the ability to provide businesses with benchmarking data they can use to position their operations more effectively in the marketplace." The Australia Prudential Regulation Authority (APRA) recently became the first banking regulator in the world to use XBRL to monitor the financial well being of 12,000 Australian super funds, insurers and banks required to report to APRA on a regular basis. APRA is sharing this aggregated data with the Australian Bureau of Statistics and the Reserve Bank of Australia for benchmarking and trend analysis. In the United States, the Federal Deposit Insurance Corporation (FDIC) recently announced its desire to use XBRL for regulatory reporting for U.S. banks in the near future. "We're pleased to see the high level of involvement with the XBRL initiative from market leaders in the financial services, software, government and accounting sectors," said Walter Hamscher, Chair of the XBRL International Steering Committee. "The release of the XBRL specification along with the IASB, UK, German and General Ledger taxonomies means that companies can now begin leveraging XBRL in more efficiently preparing, analyzing and distributing financial information to investors, analysts and other stakeholders. Financial services companies and regulators are anticipated to quickly adopt XBRL to more effectively meet their lending and regulatory processing needs." In other adoption news, Reuters and Microsoft announced that they have published their financial statements using XBRL. By publishing financial statements in XBRL, Reuters and Microsoft provide easier access to their company's financial data and more efficient analysis capabilities to investors, analysts, accountants, regulators and others on the financial information supply chain. In addition, the London-based International Accounting Standards Committee Foundation (IASC Foundation), an XBRL member, is expected to announce this week that the Core IASC Foundation taxonomy of XBRL for Financial Statements has been released. The IASC Foundation taxonomy, which is based on the Bound Volume of the International Accounting Standards, will help many countries, including Germany and those in Europe and Asia, to develop and implement XBRL for financial statements using a common set of data tags that will correspond to specific line items within a company's chart of accounts. Once financial information has been tagged in XBRL it allows straight-through reporting; greater interoperability; more powerful analysis across all software formats. About XBRL International XBRL International is a global consortium of more than 140 of the world's largest accounting, technology, government and financial services bodies devoted to developing and promoting the adoption of XBRL. More information about XBRL can be found at www.xbrl.org. Prepared by Robin Cover for The XML Cover Pages archive. References in "Extensible Business Reporting Language (XBRL)." See also "XBRL Standard for Capital Markets Enjoys Growing International Adoption."