Question
Regarding the quantitative reporting template S.33.01 for the preparatory phase I would appreciate a confirmation on the following issue:
If one of the entities that meet the requirements to be reported in this template has 2 Ring-Fenced Funds (RFF #1 being the most material RFF), how should I report this entity in terms of this QRT?
a) One line only, indicating cell R1 = "Entity Level"
b) One line for RFF #1, indicating cell R1="RFF"
One line for RFF #2, indicating cell R1="RFF"
One line for Remaining Part, indicating cell R1="Remaining Part"
One line for Entity level, indicating cell R1="Entity Level" [this line would include both RFFs and Remaining Part]
c) One line for RFF #1, indicating cell R1="RFF"
One line for RFF #2, indicating cell R1="RFF"
One line for Remaining Part, indicating cell R1="Remaining Part"
EIOPA answer
In this case the following should be reported under preparatory phase:
- One line for RFF #1, indicating cell R1="RFF"
- One line for Remaining Part, indicating cell R1="Remaining Part" [this line would include RFF 2 if not material]
- One line for Entity level, indicating cell R1="Entity Level" [this line would include both RFFs and Remaining Part]
For future Solvency II the reporting would be the same if the RFF 2 is not material. In case RFF 2 is also material then the reporting in future SII should be:
- One line for RFF #1, indicating cell R1="RFF"
- One line for RFF #2, indicating cell R1="RFF"
- One line for Remaining Part, indicating cell R1="Remaining Part"
- One line for Entity level, indicating cell R1="Entity Level" [this line would include both RFFs and Remaining Part]