699

The movements on a regular bank account, held in the bank which belongs to the same group, should not be reported as an IGT between the insurance undertaking and the bank. Such transactions should however be reported as IGT between the insurance undertaking and other entity to whom the payment from the bank account was made (if above the threshold or determined as a type of IGT which needs to be reported in each case). The outstanding amount of deposits made by the insurance undertaking at a bank which belongs to the same group should be reported as IGT, if all relevant conditions are met. The relevant conditions should be assessed by considering the sum of open positions at each moment (i.e. if the outstanding amount of deposits meet the conditions at any point in time of the reference period, even if not at the end of the period). Such deposits should be reported in S.36.01.01 and in C0100 they should be identified as “Other asset transfer – others”.