Question ID: 843
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Status: Final
Date of submission: 20 Feb 2017
Question
We still struggle with the valuation method we should use on CIC 7 (and the subcatagory within). In one of the first CIC tables there was an explicit note that "XT" should be used for CIC 7, 8 and 9. Unfortunately in the latest version(s) there isn't such a note. Is the former note still in force? And should we therefore use XT7#?
For the valuation of CIC 7 we couldn't find explicit guidance. With the help of Google we found MSFA saying that EIOPA recently gave guidance that CIC71 should have valuation method 1 "Quoted market price in active markets for the same assets". Only we can't find it on EIOPA's site. And this would be in contrary with the Category "XT". Our own choiche of valuation and category would be "XT" and valuation method 3 (AVM) for CIC7#. Could you give use the right anwers and when there is a different within de subcatagory than per sub?
EIOPA answer
Please note that this question has been updated by adding the last sentence in relation to the CIC code. Q&A 729 as published in Answers to questions on the Final report on the ITS on the templates for the submission of information to the supervisory authorities (CP-14-052) clarifies EIOPA view on the valuation method to be reported in C0150, and in fact Option 1 is indicated. In relation to the first 2 digits of the CIC, "XT" should still be used for CIC7.