ESA Joint Committee · priips-76 Final

Point 15 of Annex IV of the Delegated Regulation states that for Category 2 PRIIPs for which there is not an appropriate benchmark with sufficient history, performance scenarios shall be calculated in

Regulation
PRIIPs
Answered
2022-11-14
Answer provided by
ESAs (EBA, ESMA, EIOPA)
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Question

Point 15 of Annex IV of the Delegated Regulation states that for Category 2 PRIIPs for which there is not an appropriate benchmark with sufficient history, performance scenarios shall be calculated in accordance with the method for Category 3 PRIIPs using 15 years of historical data of the PRIIP or the benchmark. If 15 years of historical data are available for the PRIIP or the benchmark, why are cases 1 or 2 not applicable? Or does this situation refer to a very long term PRIIP?

Answer

In accordance with point 5 of Annex IV of the Delegated Regulation, the historical data needs to be 5 years longer than the recommended holding period (as well as at least 10 years). Point 15 of Annex IV addresses the situation that more than 15 years of historical data would be needed to follow the methodology set out in points 7 to 11 of Annex IV, given that, for PRIIPs with a recommended holding period longer than 10 years, more than 15 years of historical data is needed.
View original on ESA Joint Committee (EBA, ESMA, EIOPA) ↗

This Q&A is published by ESA Joint Committee (EBA, ESMA, EIOPA) and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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