EIOPA · 1713
1713
- Regulation
- (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
- Article
- 35
- Submitted
- 2018-11-13
- Answered
- 2019-10-11
Question
The definitionsfor the call and Put option swaptions in Annex VI have been interpreted differently by our asset managers. We have used EIOPA's definitions, but the asset manager is stating that a Put swaption owner pays the fixed leg (EIOPA states that this is the definition of a Call). and that a Call swaption owner receives the fixed leg (EIOPA states that this is the definition of a Put).
Answer
EIOPA confirms that the information reported under template S.08.01 and S.08.02 shall comply with the Annex VI - Definitions of the CIC Table regardless the source of the information. Insurance and reinsurance undertakings are responsible for compliance even in the cases where outsourcing is used, in this case to an asset manager.
This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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