Question ID: 2962
Regulation Reference: (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
Topic: Validations
Article: N/A
Template: S.08.01
Status: Final
Date of submission: 24 Jan 2024
Question
In the 2.8.0 Solvency II taxonomy, there is the column "Notional amount of the derivative" (C0130) in the S.08.01.01.01 table. The monetary value in this column has to be reported in a currency given in the S.08.01.01.02 table in column "Currency" (C0370). The XBRL taxonomy does not include a reference to the AF dimension with member s2c_CA:x1, besides of some LABEL in the DPM dictionary of the metric mi2822. But your filing rules (page 13, paragraph "3.1 - One explicit currency") clearly say that "Such facts are associated to the member "Expressed in currency of denomination (not converted to reporting currency)" of the dimension "Currency Conversion Approach"." How should this association look like, if the taxonomy does not give this dimensional dependency? Could you please provide an example what to write in the XBRL instance? (The sample instances on your download page are only in EUR, unfortunately, and do not include this case.)
Background of the question
The regulator rejected an XBRL instance for QES reporting. The error message is not fully clear to us, but it looks like it is because this association to the AF dimension is missing.
EIOPA answer
EIOPA is aware of the described inaccuracy and would like to inform that the XBRL Filing Rules rule 3.1 (One explicit currency) has been amended.
The 2.8.0 release introduced changes to the S.08.01 requiring update to the filling rules and the inclusion of the open table column scenario. As these columns are modelled using MD metrics with no dimensions, the multicurrency facts have the information about the “Currency Conversion Approach” (s2c_dim:AF) dimension with “Expressed in currency of denomination (not converted to reporting currency)” (s2c_CA:x1) embedded in the MD metric declaration and carried in their label and MD metric details. Furthermore, this modelling applies only to the specified column, instead of the entire table. Therefore, information on the currency in which values of this column are denominated is provided by another column of this or other table, which is documented and checked using dedicated value assertion. For example, in Solvency 2.8.0 such multicurrency reporting applies for template S.08.01 C0131 “Notional amount of the derivative” whose currency is reported in column C0370 “Currency”. Therefore, the local name of xbrli:unit / xbrli:measure of the fact reported in column C0131 must match the local name of member provided in column C0370. This relation is checked by TV1002.