Question ID: 822
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Status: Final
Date of submission: 22 Sep 2016
Question
I would like to ask you three questions regarding the assets qrt.
1. S06.02, C0320 - "External rating", the instruction to this is: "Only
applicable to CIC categories 1, 2, 5 and 6. Rating of the asset at the
reporting reference date issued by the nominated credit assessment institution
(ECAI)."
No internal model is in use.
Question: Does it mean, that there is only an issue-rating/rating of the
emission to report rather than an issuer-rating/rating of the issuer?
If an asset has no issue-rating but an issuer-rating, than this field/asset
has to be reported as "not rated".
2. Annex VI, Country-ISO vs. XV and "Namensschuldverschreibung" as XT Could
you please confirm if I am right with my following understandig of the
Instructions:
For example: A Bond is listed in Frankfurter Börse/Germany but we are using
Bloomberg/Six-Telekurs/Reuters as a price provider.
Bloomberg/Six-Telekurs/Reuters deliver us with the price (without any change)
which match exactly with the price from Frankfurter Börse/Germany.
Question: is it correct that for the example above this bond gets "XV"? or
should it be "DE"??
3. "Namensschuldverschreibung" as XT
"Namensschuldverschreibungen" (NSV) or "Schuldscheindarlehen" which are common
in Germany. They are not listed and are not tradeable in my opinion. Am I
right, that those CIC should start with XT?
EIOPA answer
Only Q&A submitted through EIOPA Q&A tool are published in EIOPA website.
1. You are correct. In the S.06.02.C0320 only rating of the issue must be reported. If the issue has no rating you should not replace this by
the rating of the issuer.
2. Correct, when assets are listed in one or more countries and the undertaking uses for valuation purposes a price provider which is not one of
the regulated markets or multilateral trading facility where the asset is listed in assets should be classified as "XV".
3. Only assets that by its nature could never be subject to negotiation on a regulated market or on a multilateral trading facility should be classified as
"XT". If in your opinion it is not tradable than you can attribute "XT" code. The contracts you refer are very specific of a particular market so in case of doubt the NSA should be contacted. The items mentioned in your specific case (Namensschuldverschreibungen, Schuldscheindarlehen) should be calssified „XL“ unless you possess information that they could in no case be listed.