Question ID: 2654
Regulation Reference: (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
Topic: Reporting Templates
Article: N/A
Template: S.06.02
Status: Final
Date of submission: 26 May 2023
Question
Regards the updates within 2.8 taxonomy and the associated LOG guidance (in the draft business package supporting SII taxonomy 2.8.0) for the new data point C0295. Can EIOPA please confirm that C0295 should always not be empty (there are no applicability conditions given in the guidance)? Further, EIOPA indicated in Q&A #2377 that cryptocurrencies should be assigned CIC09. Is there any relationships that EIOPA would expect to hold between the value of C0295 and C0290 (CIC)? For example, if C0295 is “1 – Electronic money token” (being a cryptocurrency we believe) then should C0290 be CIC 09? Moreover, can EIOPA confirm for some of the most commonly held crypto-assets (e.g. Bitcoin) which C0295 value you would expect?
EIOPA answer
Yes, we can confirm that in the SII 2.8.0 taxonomy, the field C0295 from template S.06.02 should always be completed.
EIOPA has not implemented any validations on crypto field C0295. However, following the Q&A, if C0295 has been completed with 1-4, then CIC code should be 'XX09'
For Bitcoin, we expect it to be classified as 'Other crypto-assets'.