EIOPA · 89
89
- Regulation
- Guidelines on submission of information to NCAs (Preparatory phase)
- Article
- 35
- Submitted
- 2014-07-04
- Answered
- 2019-10-29
Question
S08.01 Premium paid/received to dateThe payment received (if sold) or paid (if bought), for options and also up-front and periodical amounts paid / received for swaps, since inception.Options: original cost valueSWAPS: can only be calculated on transactional data.. Since inception is including history, are all transactions available?how we should interpretate “since inception”
Answer
The instructions intend to explain that it includes all the cash-flows paid and received as premiums under the contract, at the transaction date (since the day it was entered into by the undertaking) and during its life (cell A17 in S.08.01 different variants) . Examples: For OTC swaps probably the full amount of premiums is paid/received at inception only. For traded swaps it will probably be the cash-flows paid / received related to premiums since the day it was entered into by the undertaking until the reporting date; this might also encompass amounts that count as premiums that are exchanged after the inception of the swap.
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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