Question ID: 2280
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Topic: Reporting Templates
Article: N/A
Template: S.06.02
Status: Final
Date of submission: 16 Apr 2021
Question
QRT S.06.02 chartfield "C0280 Currency" requires submitting entities to "Identify the ISO 4217 alphabetic code of the currency of the issue." In respect to Exchange Traded Funds ("ETFs") we are looking to confirm the appropriate currency to populate chartfield C0280. From a general ledger reporting standpoint the SOL II reporting Entity reports ETFs using the Trade Currency (sourced from the appropriate exchange). Taking into consideration ETFs can often be traded on multiple exchanges, resulting in Trade Currencies differing from the Base Currency of the ETF; can you please confirm our understanding that it is appropriate (in order to satisfy Solvency II Taxonomy for S.06.02 chart-field C0280 Currency) to report the relevant Currency Traded by the Entity rather disclosing the ETF Base Currency.
Background of the question
Revised Annex 3 of the ITS on Reporting_2019. S.06.02 C0280 Currency. Confirm understanding that Exchange Traded funds are to be disclosed on the QRT S.06.02 C0280 using the Currency Traded by the SOL II reporting Entity and not the underlying ETF Base Currency.
EIOPA answer
In S.06.02 C0280 "Currency", the currency of the issue is to be reported.
Also for ETF it is the currency in which the ETF is issued that has to be reported. It is not appropriate to report instead the currency in which the reporting entity is trading the asset.