Question ID: 2121
Regulation Reference: (EU) No 2015/2011 - lists of regional governments & local authorities, exposures to be treated as to central government
Topic: Legal Entity Identifiers (LEIs)
Article: NA
Status: Final
Date of submission: 23 Mar 2020
Question
In previous Q&A for question 1225 EIOPA has answered the following" The provision set out in Article 109a(2) Solvency II cannot be applied to entities which are not included in the list set out in Commission Implementing Regulation (EU) 2015/2011. Neither French metropoles nor intercities are currently included in the Regulation and exposures to them can therefore not be treated as exposures to the French central government. "
However, we are unsure how to treat Belgian Cities, they are muncipalities, but get the name City, for example City of Ghent. For example the following Bond ISIN:BE624963421 (Issuer: BE0207451227 LEI 549300HJ1DDDKEOO9B33). These are not Metropoles. Can we thus consider them CIC 14?
Background of the question
Belgian Cities CIC code designation
EIOPA answer
Based on the definitions in the CIC Table in Annex V of the SII reporting instructions "Bonds issued by local authorities, including cities, provinces, districts and other municipal authorities" qualify as "Local Authorities bonds with CIC 14".