Question ID: 328
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Template: S.10.01
Status: Final
Date of submission: 06 Nov 2015
Question
S.10.01 – Securities lending and repos (D5) - General
We understand that during EIOPA’s recent Stakeholder meeting (held on 22nd of January 2015), a question on the scope of S.10.01 (Securities lending and repos ) template was raised. Can EIOPA confirm the following:
• The requirement in this template is to report only securities lending and repo contracts open at the end of the reporting period.
• If the template captures both open and closed contracts, for quarterly reporting (financial stability purpose reporting) of closed contract, the requirement is to report only contracts closed during the quarter rather than cumulative position (e.g. in Q2 we should report the contract closed in Q2 only and contracts closed during Q1 will not be included in Q2 report).
EIOPA answer
No, actually the template should include all contracts that were open during the reporting period. The Instructions clarified this situation: “All contracts that are on the balance sheet or off balance sheet shall be reported. The information shall include all contracts in the reporting period regardless of whether they were open or closed at the reporting date. For contracts which are part of a roll-over strategy, where they substantially are the same transaction, only open positions shall be reported.”
The Final Report on public consultation No. 14/045 on Guidelines on reporting for financial stability purposes does not include the requirement of quarterly reporting of this template.