Question ID: 1713
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Status: Final
Date of submission: 13 Nov 2018
Question
The definitionsfor the call and Put option swaptions in Annex VI have been interpreted differently by our asset managers. We have used EIOPA's definitions, but the asset manager is stating that a Put swaption owner pays the fixed leg (EIOPA states that this is the definition of a Call). and that a Call swaption owner receives the fixed leg (EIOPA states that this is the definition of a Put).
EIOPA answer
EIOPA confirms that the information reported under template S.08.01 and S.08.02 shall comply with the Annex VI - Definitions of the CIC Table regardless the source of the information. Insurance and reinsurance undertakings are responsible for compliance even in the cases where outsourcing is used, in this case to an asset manager.