The standard is widely used throughout Europe for Banking and Insurance supervision. 

Regulation and supervision are gradually centralised on the European level, first with the creation of European Superviory Authorities (ESA) such as the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) and subsequently with the setup of the Banking Union and the Single Supervisory Mechanism (SSM).

These European authorities have issued XBRL frameworks for the regular collection of supervisory data, where the use of the XBRL standard is mandatory to report from National Competent Authority (NCA) to ESA, and where the taxonomies are gently offered to be used by NCA for their own data collection purposes.

The National Bank of Belgium, in its role as NCA for the Belgian banking and insurance sector, has adopted these XBRL taxonomies as sole digital format for entities to use in the context of supervisory reporting.