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European Insurance and Occupational Pensions Authority

945

Q&A

Question ID: 945

Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities

Article: 35

Template: S.02.02

Status: Final

Date of submission: 27 Jan 2017

Question

Some insurance companies are contacting us in order to know the potential consequences of non following the indicated threshold provided by the EIOPA and by alway providing detailed informations rather than aggregated.
for instance, in QRT S.02.02 they would prefer to provide the full breakdown by currency rather than only providing the detail for the TOP 5 currencies.

In case an insurance company will provide additional informations, will EIOPA accept the declaration as it will offer more detailed information to analyze or will EIOPA reject the submission as it's not consistent with the ITS?

EIOPA answer

In fact only the material ones should be reported. The main reason is the fact that the modelling approach is to explicitly state in DPM where are material vs. not material currencies. If we allow for reporting non-material currencies in container dedicated for material ones (one-by-one) then conceptually it would be messy as they would anyway be modelled as material.