EBA · 2013_70 Final Q&A

FINREP: Reporting of insurance subsidiaries

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
99, para. 5
Topic
Supervisory reporting - FINREP (incl. FB&NPE)
Submitted by
Credit institution
Submitted
2013-07-19
Answered
2014-02-14
Answer provided by
ESAs (EBA, ESMA, EIOPA)
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Question

According to new Finrep instructions templates F 1.1/1.2/1.3 should be reported according to the CRR scope of consolidation and template F17 according to the IFRS scope of consolidation. 1)Does this mean all tables (except template F17) should be reported according to CRR scope (which excludes insurance subsidiaries)? 2)CRR scope: Although insurance subsidiaries should not be consolidated according to the instructions, we assume the investments in and intercompany positions with insurance subsidiaries and the related P&L components with/from these subsidiaries should be reported somewhere in the consolidated figures. Is that correct? If yes, which lines in templates F 1.1-1.3 (balance sheet) and template F2 (P&L) should we use for this purpose?

Background

We are not sure how to report insurance subsidiaries in FINREP.

Answer

1) Yes, all templates should be reported according to the CRR scope of consolidation except template F 17 and F 40, which shall be filled in under the accounting (IFRS) scope of consolidation. Article 18(1) of the Regulation (EU) No. 575/2013 (CRR) defines the methods for prudential consolidation. According to this, institutions shall carry out a full consolidation of all institutions and financial institutions that are its subsidiaries. However, according to paragraph 2 of the same Article 18, the competent authorities may on case-by-case permit proportional consolidation. 2) When insurance (and other) subsidiaries are not included in the CRR scope of consolidation, amounts related to them shall be reported in templates F 01.01, F 01.03 and F 02.00 in those items related to investments in subsidiaries, joint ventures and associates.

Original source: European Banking Authority, Q&A ID 2013_70

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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