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Re answer to question no. 16 of section III. Market risk assessment (Annex II, Part 1), A. Product categories: Does the NAV calculation have to be based on current property prices? Or is it possible to use property prices for the NAV calculation that are determined, for example, only once a quarter by a property valuer and are constantly estimated for a period of three months using interpolation?“

I am interested in a legal question regarding the Delegated Regulation (EU) 2017/653. It concerns the question of whether an open-ended real estate fund in the form of a PRIIP must state the risk in its key information document as category 6 (MRM class 6) or whether it may state a lower MRM class such as 2 or 3. In the case of the open-ended real estate fund in question, the value of the properties is not calculated or determined on a monthly basis, but on a quarterly basis. There is also no separate benchmark and no separate proxy. Delegated Regulation (EU) 2017/653 states: “(4) Category 1 includes the following: (a) PRIIPs where investors could lose more than the amount invested; (b) PRIIPs falling within one of the categories set out in points 4 to 10 of Section C of Annex I to Directive 2014165/EU of the European Parliament and of the Council (' ) (c) PRIIPs or underlying investments of PRIIPs which are not priced at least monthly or which do not have an appropriate benchmark or proxy or whose appropriate benchmark or proxy is not priced at least monthly. [...] B. The MRM class for Category 1 PRIIPs is 7, with the exception of the PRIIPs referred to in point 4(c) of this Annex, where the MRM class is 6.” I am mainly concerned with the understanding of a particular word, namely the word “price” in Annex II Part 1 point 4. c). I would be interested to know whether “price” means the issue or redemption price of a unit certificate of an open-ended real estate fund, which revaluates the net assets of the real estate fund on each trading day, or does “price” mean that the value of the real estate itself must be determined monthly? An answer in the Q&A of the Joint Committee (there III.A.16) sounds as if the issue or repurchase price is not to be understood as such. What is the legal quality of the Q&A and who answers the questions posed there? Are the answers in the Q&A binding? May or must they even be used when interpreting the text of the regulation?

I would like to inquire whether it is possible to purchase a PEPP (Pan-European Personal Pension Product) in Poland, even though I am currently residing in Germany. I have found information on the EIOPA website stating that PEPP can be purchased from another EU Member State when it is not available …

Could you please confirm if an insurance bond issuer is allowed to reclassify the excessive available basic own funds (bonds) beyond the quantitative limit into another tier? For example, when the amount of Restricted T1 bonds issued by an insurer surpasses the 25% of Unrestricted T1, can the issuer…

Background and Request for Clarification – Market Concentration Risk under Solvency II

We are assessing the application of the Market Concentration Risk module under Solvency II for two insurance undertakings, A and B, both with total assets exposed to the Market Concentration Risk module amounti…

IBIPs Performance feesIs Q&A n.2 published on July,4 2017 (also present in page 48 of Q&A published on December 17 2021) – representation of performance fees and carried interested in IBIPs - still valid, given that point 68 Annex VI part 1 has been revisited?

Will EIOPA publish risk corrected spreads used for the calculation of the volatility adjustment or is it up to each insurance company to calculate risk corrected spreads in phase with their business?

We have noticed that Bloomberg does not provide data for Bulgarian government bonds due to the currency change (to EUR) in Bulgaria. In your latest document, the same RIC (0#BGXZ=R) is specified as applicable for Bulgarian government bonds after 01-01-2026, as previously, and also it should be used …

In the new report S.22.07, C0046/R0020 'Risk-corrected spread calculated on the basis of the undertaking's portfolio of investments in debt instruments for the currency euro/all countries'
You ask to report 'calculated nominator of the undertaking-specific adjustment to the risk-corrected spread'
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