Question ID: 1876
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Template: S.02.02
Status: Final
Date of submission: 12 Apr 2019
Question
According to the information provided in the General Comment of the report S.02.02, it need to report the matieral currency sperately and the currency is considered as "material" if it represent more than 90% of Assets and of liabilities: Information reported by currency shall at least represent 90% of the total assets and of the total liabilities.
It could be interpreted in 2 ways different:
- 1st: the currency reported should represent not only more than 90% of the total assets but also more than 90% of the total liabilities
- 2nd: the currency reported represent more than 90% of the total assets or more than 90% of the total liabilities.
EIOPA answer
EIOPA confirms that S.02.02 is not required to be reported if one single currency represents more than 90 % of assets and also of liabilities. In your example it is the 1st way of interpretation e.g. it is the USD currency that represents more than 90% in both total assets and total liabilities.