EIOPA · 1876
1876
- Regulation
- (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
- Article
- 35
- Submitted
- 2019-04-12
- Answered
- 2019-10-15
Question
According to the information provided in the General Comment of the report S.02.02, it need to report the matieral currency sperately and the currency is considered as "material" if it represent more than 90% of Assets and of liabilities: Information reported by currency shall at least represent 90% of the total assets and of the total liabilities.It could be interpreted in 2 ways different:- 1st: the currency reported should represent not only more than 90% of the total assets but also more than 90% of the total liabilities- 2nd: the currency reported represent more than 90% of the total assets or more than 90% of the total liabilities.
Answer
EIOPA confirms that S.02.02 is not required to be reported if one single currency represents more than 90 % of assets and also of liabilities. In your example it is the 1st way of interpretation e.g. it is the USD currency that represents more than 90% in both total assets and total liabilities.
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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