Question ID: 480
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Template: S.09.01
Status: Final
Date of submission: 07 Dec 2015
Question
Currently 2 different interpretations of the instructions for the fields C0100 and C0110 in the s09.01 QRT exist.
Difference in interpretation lays in that utilization of clean or dirty acquisition values in the calculations of Net Gains and Losses and Unrealized Gains and Losses.
Interpretation 1 utilizing clean values
Interpretation 2 utilizing dirty values
Implication of this interpretation is that the s,09.01 C0100 and C0110 definitions becomes conflictive.
Could you confirm if either interpretation 1 or interpretation 2 is correct?
EIOPA answer
In template S.09.01 we are requesting the returns on investments. For this we differentiate between dividends/interests and rents and gains and losses.
For the proper use of information it is important to guarantee that amounts are not duplicated.
In the Instructions is now clear that in the column of interests the interests received and accrued should be reported (interest received less accrued interest at the start of the period plus accrued interest at the end of the reporting period).
In the Instructions of the gains and losses, in fact it was not made so clear the treatment of accrued interests, mainly by the use of the solvency II value. In fact we consider “Solvency II value” as including accrued interests. However for the purposes of this template this values have to be deducted from the accrued interests to avoid the same amounts being reported twice.
This means that when we refer in C0100 and C0110 to acquisition value, selling/maturity value or value according to article 75 of Directive 2009/138/EC at the end of the (prior) reporting year, those values need to be without interests accrued.