Question ID: 2658
Regulation Reference: (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
Topic: Reporting Templates
Template: S.14.01
Status: Final
Date of submission: 30 May 2023
Question
Regards the new datapoints added to S.14.01 in 2.8 taxonomy, and the associated LOG guidance (in the draft business package supporting SII taxonomy 2.8.0). Can EIOPA please advise if the following relationships are expected to always hold. For the same row in S.14.01: 1. C0260, C0261 and C0280 must either all be empty or must all be non-empty i.e. either there is no guarantee iro interest rate and thus all three of these cells are empty, or there is some guarantee and hence all three are not empty. Further, for the purposes of these tests, in the case of C0280 a value of 0 is also considered like empty. 2. If C0200 is not empty and not 0 then C0270 must not be empty, and vice-versa.
EIOPA answer
1.As a general rule, when a contract has a guaranteed rate – in various forms - C0260 (Annualised guaranteed rate), C0261 (Yearly interest rate guarantee for the reporting year) and C0280 (Amount on which interest rate is guaranteed) shall be populated. Conversely, if a contract does not have any sort of guaranteed rate, these fields—C0260, C0261, and C0280—should remain empty.
As outlined in the (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision available at eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:L:2023:120:FULL, if a guaranteed interest rate is reported in C0260, then C0280 shall also be reported with a value greater than zero. Conversely, if no guaranteed rate is reported in C0260, a zero in C0280 will be treated as empty.
2. As a general rule, If a contract includes applicable surrender options at the reference date of the reporting, C0200 (Surrender value) and C0270 (Exit conditions at reporting date) shall be populated. Conversely, if a contract has no surrender options or there are not applicable at the reference date of the reporting, C0200 and C0270 should remain empty.