738

EIOPA and the SII regulation is not specific on the treatment of Futures on the SII balance sheet. Further Guidance is needed. A specific CIC code is created for futures (CIC main category A). As futures consist of  multiple elements (e.g. Var Margins, Maintenance margins, Margin Account, expectations on future movements) guidance is needed on the presentation on the balance sheet. E.g. Assuming a future value of 0 (as the result of daily clearing) inflates the Margin Account, which based on possible interpretation can be assumed a deposit? This would mean that all movents in the futures would solely be reflected in the Deposit (different CIC code?). Or does EIOPA expect to treat the complete value of the future as the total initial amount at inception?IFRS is also not explicit in this, thus further specific guidance would be extremely welcome.