EIOPA · 2923
Reporting Templates
- Regulation
- (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
- Article
- N/A
- Topic
- Reporting Templates
- Submitted
- 2023-12-07
- Answered
- 2023-12-21
Question
C0270 Exit conditions at reporting date - We ask to clarify the meaning of the expression "notice required". Amount on which interest rate is guaranteed - C0280: Clarification is requested as to what is intended with "monetary value at the reference date", especially regarding the amount to which the guaranteed interest rate is to be applied (insured benefit, mathematical reserve, other?).
Answer
The term “Notice required referred to whether there is a lag of time between the request from the policyholders to surrender and the actual pay out.
The value provided in C0280 need to be linked to the guaranteed rate in C0261. The monetary value is therefore the value to which the guaranteed rate is applied. Conceptually, the percentage in C0261 multiplied with the value in C0280 is the amount that the undertaking need to allocate to the product in the next year to fulfil its guaranteed interest.
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.
Similar Q&As
More Q&As on this topic
📋 Track EU financial regulation continuously
Forseti monitors EU financial regulation and delivers personalised alerts anchored to verified official sources.
14-day free trial. No credit card required.