Question ID: 1052
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Status: Final
Date of submission: 03 Mar 2017
Question
C0050 states "If the frequency is lower than yearly...". This seems to mean: "if we calculate cashflows at intervals less frequently than yearly e.g. every two years, then ..."
But the request doesn't seem to make sense until we get to rows R0310:R0330 where the periods are greater than one year.
So we are assuming it means "if your cashflows are calculated at intervals more frequently than yearly, e.g. monthly, then..."
So if in any year we have 8 months where inflows are greater than outflows, then we will put the difference in column C0050. For the remaining 4 months of that year where outflows are greater than inflows, then we will put the difference in column C0060. So in many rows, there will be non-zero values in both columns C0050 and C0060.
This interpretation will also mean we have the following relationship for each row:
C0050 - C0060 = C0040 - (C0020 + C0030)
Is this interpretation correct?
EIOPA answer
The frequency lower than one year adresses the frequency of the cash-flows projections and assessment of the mismatches. This columns (C0050 and C0060) adress the mismatches over the last year and the interpetration is correct, positive mismatches are summed and reported in C0050 and the negative mismatches are also summed and reported in C0060.
However we do not share your view regarding the relation between the columns as C0020, C0030 and C0040 reflect the projection of the future cash-flows calculated at the reference date and C0050 and C0060 adress the mismatches over the last year.