Question ID: 87
Regulation Reference: Guidelines on submission of information to NCAs (Preparatory phase)
Article: 35
Template: S.06.02
Status: Final
Date of submission: 06 Jun 2014
Question
S06.02 Country of Custody
ISO 3166-1 alpha-2 code of the country where undertaking assets are held in custody. For identifying international custodians, such as Euroclear, the country of custody will be the one corresponding to the legal establishment where the custody service was contractually defined.
What if there are multiple custodians? Following options are possible:
1) Multiple lines?
2) Biggest custodian is reported?
IIM will investigate if option 2 is possible. But when custodian is not available, is custodian for each instrument (CIC) type required?
EIOPA answer
In the case of multiple custodians the country of the biggest custodian have to be reported. Country of custody is mandatory to CIC categories 1 to 6.
EIOPA will clarify this when drafting the Reporting Technical Standard.