EBA · 2019_4727 Final Q&A

Funding plan validation error v6223_m

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
99
Topic
Supervisory reporting - Funding Plans
Submitted by
Credit institution
Submitted
2019-05-17
Answered
2020-05-08
Answer provided by
ESAs (EBA, ESMA, EIOPA)
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Question

Can a credit institution submit a funding plan with having an actual reverse repurchase agreement starting position and no projected positions in view of validation error v6223_m (template P01.03)?

Background

Template P01.01 requires the submission of the actual asset position as at reporting date (31 December 2018), and projected/planned position in 6 months, 1 year, 2 year and 3 years’ time. The Bank received a validation error (v6223_m) for reverse repurchase agreements since it had an actual position at 31 December 2018, but then submit nil values in all of the projected years. When preparing budgets, the Bank does not typical project such items within its forecasts.

Answer

V6223 is a completeness/consistency check. The assumption behind this check is that all actual asset positions with a positive value reported as of the current reference date are expected to also have a positive value at future reference dates. V6223 is defined as a validation rule with the severity ‘warning’. Warnings may neither be applicable to all reporters nor to all reference dates. Hence, if the bank indeed planned to have a reverse repo position of zero in future years, the validation rule (warning ) will not hold but will be explained (Annex XV, spreadsheet “Explanations”).

Original source: European Banking Authority, Q&A ID 2019_4727

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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