EIOPA · 2469

Reporting Templates, Validations

Regulation
(EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article
35 of SII Directive
Topic
Reporting Templates, Validations
Submitted
2022-07-29
Answered
2023-07-24

Question

Due to the validation rules BV783 and BV784, we still have a problem with our Asset QRTs and the prices that we have to send in the columns Unit SII price (pct). Prices have to be unique for an Asset ID Code. However the prices we are using are not totally unique, as we have the same investment held in different currencies, countries and time zones, and therefore we take an average price in order to deliver only one price per Asset ID Code. The current tolerance level provided with validation rules BV783 and BV784 does not allow us to satisfy the tolerance in ABACUS as it is far too low. To solve this issue we propose that either unit SII price (pct) should be a position field that doesn’t have to be unique per Asset ID Code or that a different approach tolerance level is adopted – we have tested various levels and our findings show that a tolerance level of 1% of the total SII amount would solve this issue. Please can either of these two solutions be implemented?

Answer

In the EIOPA filing rules (https://dev.eiopa.europa.eu/Taxonomy/Full/2.8.0/Common/EIOPA_XBRL_Filing_Rules_2.8.0.pdf#page=22) there is a clear description for asset quoted in multiple currencies. In such case it is possible to provide multiple rows for both S.06.02.nn.01 and S.06.02.nn.02 table for a single Asset ID Code. Moreover, at present, the relationships described in the validations are defined with the assumption of exact equality, or an approximation defined by interval arithmetic. EIOPA implementation of this mechanism is described in more detail in XBRL Taxonomy Documentation – section VII.3.6.6 Evaluation of validation rules and interval arithmetic (https://dev.eiopa.europa.eu/Taxonomy/Full/2.7.0/Common/EIOPA_XBRL_Taxonomy_Documentation_2.7.0.pdf).

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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