ESA Joint Committee · priips-88 Final

Point 35 of the Annex IV on Performance Scenarios states that ‘the values to be shown for the intermediate periods for the unfavourable, moderate and favourable scenarios shall be calculated in accord

Regulation
PRIIPs
Answered
2025-05-05
Answer provided by
ESAs (EBA, ESMA, EIOPA)
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Question

Point 35 of the Annex IV on Performance Scenarios states that ‘the values to be shown for the intermediate periods for the unfavourable, moderate and favourable scenarios shall be calculated in accordance with points 5 to 14 of this Annex, using the time period specified in point 6, but based on the outcomes achieved over the intermediate holding period.’ In order to evaluate unfavourable, moderate, and favourable scenarios over 1 year and over half of the RHP, should the length of the correspondent intermediate period for the fixed sub-interval be used, and similarly for the decreasing sub-interval?

Answer

Yes, when the calculation is performed for the intermediate holding periods, then the duration of the intermediate holding period should be used as the length of the fixed sub-interval (i.e. the sub-interval referred to in point 7(a) of Annex IV of the PRIIPs Delegated Regulation). This is also the case for the decreasing sub-interval (i.e. the sub-interval referred to in point 7(b) of Annex IV of the PRIIPs Delegated Regulation), but this is only relevant for intermediate holding periods that are longer than one year.
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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