Question ID: 23
Regulation Reference: Guidelines on submission of information to NCAs (Preparatory phase)
Article: 35
Status: Final
Date of submission: 02 Dec 2014
Question
I have a question regarding calculation of new cell "A14 - Total amount of Notional SCR for remaining part".
This is supposed to be a Standard Formula calculation.
What is to be calculated in this cell?
- Is it an revaluation of cell A8+A9+A17 (Remaining part of the SCR calculated using a partial internal model) with standard formula of notional SCR?
- Is it more a net SCR in FS (rather than notional SCR?)?
- Something else?
What is the technical standard to follow for the calculation?
EIOPA answer
Cells A14B and A14 are to be filled in by undertakings that have RFF, when reporting at entity level, for information only. Undertakings with RFFs have to report S.25.01.b regarding the entity as a whole and S.25.01.l for the most material RFF (in the preparatory phase only the biggest one and when Solvency 2 is applicable, after 1 January 2016, each material RFF) and for the remaining part.
Cell A14 in S.25.01.b should be equal to cell A31 of S.25.01.l regarding the remaining part and it represents notional SCR for the remaining part. It is not related to the calculation done with the standard formula or with partial internal models.