Resources › EU Financial Regulatory Q&A Database EU Financial Regulatory Q&A Database Official Q&As published by EBA, ESMA, EIOPA and the ESA Joint Committee. Non-binding but treated
as authoritative guidance by national competent authorities across the EU.
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All regulations Alternative Investment Fund Managers Directive (AIFMD) Directive 2011/61/EU Benchmarks Regulation (BMR) - Regulation 2016/1011 Central Securities Depositories Regulation (CSDR) Regulation (EU) No 909/2014- PTR- CSDR Credit Rating Agencies Regulation (CRAR) Regulation (EC) No 1060/2009 Directive 2002/87/EC (FiCOD) Directive 2009/110/EC (EMD) Directive 2013/36/EU (CRD) Directive 2014/17/EU (MCD) Directive 2014/49/EU (DGSD) Directive 2014/59/EU (BRRD) Directive 2014/65/EU - Markets in Financial Instruments Directive (MiFID II) Directive 2014/92/EU (PAD) Directive 2015/2366/EU (PSD2) Directive 2022/2556/EU (DORA Dir) Directive (EU) 2015/849 (AMLD) Directive (EU) 2019/2034 (IFD) EIOPA-BoS/18-114 - Information request towards NCAs regarding provision of occupational pensions information EIOPA-BoS-23-030 - Regular information requests regarding provision of occupational pensions information EMIR ESGR - Regulation (EU) 2024/3005 (EU) 2016/2341 - IORP II Directive (EU) 2016/2341 - IORP II Directive, (EU) No 2016/97 - Insurance Distribution Directive (EU) 2016/2341 - IORP II Directive, Other (EU) 2017/653 - PRIIPs Delegated Regulation for key information document (EU) 2017/653 - PRIIPs Delegated Regulation for key information document, (EU) No 1286/2014 - PRIIPs Regulation (EU) 2019/1238 - Pan-European Personal Pension Product (PEPP) (EU) 2019/1238 - Pan-European Personal Pension Product (PEPP), (EU) 2022/2454 - ITS with regard to supervisory reporting of risk concentrations and intra-group transactions (FICOD, (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision, EIOPA-BoS-23-030 - Regular information requests regarding provision of occupational pensions information (EU) 2019/2088 - SFDR (EU) 2020/852 - Taxonomy Regulation (EU) 2022/2454 - ITS with regard to supervisory reporting of risk concentrations and intra-group transactions (FICOD (EU) 2022/2454 - ITS with regard to supervisory reporting of risk concentrations and intra-group transactions (FICOD, (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision (EU) 2022/2554 - Digital Operational Resilience Act (DORA) (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision, (EU) 2023/895 - ITS for the disclosure of solvency and financial condition report (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision, (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision, Other (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision, Revised Guidelines on Contract Boundaries, Guidelines on contract boundaries (EU) 2023/895 - ITS for the disclosure of solvency and financial condition report EU Green Bond Regulation (EU) 2023/2361 (EU) No 1286/2014 - PRIIPs Regulation (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) (EU) No 2015/2011 - lists of regional governments & local authorities, exposures to be treated as to central government (EU) No 2015/2013 - standard deviations in relation to health risk equalisation systems (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities, Guidelines on reporting and public disclosure (EU) No 2015/2451 - templates and structure of the disclosure of specific information by supervisory authorities (EU) No 2015/2451 - templates and structure of the disclosure of specific information by supervisory authorities, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) (EU) No 2015/2452 - procedures, formats and templates of the solvency and financial condition report (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), (EU) No 2015/2011 - lists of regional governments & local authorities, exposures to be treated as to central government (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on application of outwards reinsurance (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on contract boundaries (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on group solvency (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on implementation of the long-term guarantee measures (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on look-through approach (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on methodology for equivalence assessments by national supervisory authorities under Solvency II (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on recognition and valuation of assets and liabilities other than technical provisions (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on valuation of technical provisions (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on valuation of technical provisions, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Other (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Risk-Free Interest Rate - General questions (EU) No 2016/1800 - allocation of Credit Assessments of external CA institutions to objective scale of credit quality steps (EU) No 2016/97 - Insurance Distribution Directive (EU) No 2016/97 - Insurance Distribution Directive, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) (EU) No 2017/1469 - standardised presentation format for the insurance product information document (EU) No 2017/1469 - standardised presentation format for the insurance product information document, Guidelines on classification of own funds (EU) No 2017/2358 - product oversight and governance requirements for insurance (EU) No 2017/2358 - product oversight and governance requirements for insurance, (EU) No 2016/97 - Insurance Distribution Directive (EU) No 2017/2358 - product oversight and governance requirements for insurance, Preparatory Guidelines on product oversight & governance arrangements by insurance undertakings & insurance distributors, (EU) No 2016/97 - Insurance Distribution Directive (EU) No 2017/2359 - info requirements and conduct of business rules applicable European Long-Term Investment Funds Regulation (ELTIF) Regulation (EU) 2015/760 European Market Infrastructure Regulation (EMIR) Regulation (EU) No 648/2012- MDP European Market Infrastructure Regulation (EMIR) Regulation (EU) No 648/2012- PTR- Derivatives European Social Entrepreneurship Funds Regulation (EuSEF) Regulation (EU) No 346/2013 European Venture Capital Regulation (EuVECA) Regulation (EU) No 345/2013 Guidelines on application of life underwriting risk module Guidelines on application of outwards reinsurance Guidelines on basis risk Guidelines on classification of own funds Guidelines on classification of own funds, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) Guidelines on contract boundaries Guidelines on financial stability reporting Guidelines on financial stability reporting, Guidelines on reporting for financial stability purposes Guidelines on group solvency Guidelines on health catastrophe risk sub-module Guidelines on look-through approach Guidelines on loss-absorbing capacity of technical provisions and deferred taxes Guidelines on own risk and solvency assessment Guidelines on recognition and valuation of assets and liabilities other than technical provisions Guidelines on reporting and public disclosure Guidelines on reporting for financial stability purposes Guidelines on ring-fenced funds Guidelines on submission of information to NCAs (Preparatory phase) Guidelines on supervision of branches of third-country insurance undertakings Guidelines on supervisory review process Guidelines on system of governance Guidelines on the Forward looking assessment of own risks Guidelines on treatment of related undertakings, including participations Guidelines on use of internal models Guidelines on valuation of technical provisions Market Abuse Regulation (MAR) Regulation (EU) No 596/2014 - Market Intergrity Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- MDP Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014 - Investor Protection and Intermediaries Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- MDP Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets MiCA Other Packaged Retail and Insurance-based Investment Products Regulation (PRIIPS) Regulation (EU) No 1286/2014 PRIIPs Prospectus Regulation 2017/1129 Regulation 2020/1503 - European crowdfunding service providers for business Regulation 2021/23 - recovery and resolution of central counterparties (CCPRRR) Regulation 648/2012 - OTC derivatives, central counterparties and trade repositories (EMIR) - CCPs Regulation (EU) 2015/847 (WTR) (recast) Regulation (EU) 2019/2088 - Sustainable Finance Disclosure Regulation (SFDR) Regulation (EU) 2022/2554 - The Digital Operational Resilience Act (DORA) Regulation (EU) 2022/858 - DLT Pilot Regime Regulation (DLTR) Regulation (EU) 2023/1113 (WTR II) Regulation (EU) 2024/886 (IPR) Regulation (EU) No 2017/2402 (SecReg) Regulation (EU) No 2019/2033 (IFR) Regulation (EU) No 2022/2554 (DORA Reg) Regulation (EU) No 2023/1114 (MiCAR) Regulation (EU) No 575/2013 (CRR) Regulation (EU) No 648/2012 (EMIR) Regulation (EU) No 909/2014 (CSDR) - only RTS 2017/390 Revised Guidelines on Contract Boundaries Revised Guidelines on valuation of technical provisions Revised Guidelines on valuation of technical provisions, (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) Revised Guidelines on valuation of technical provisions, (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) Risk-Free Interest Rate - Credit and currency adjustments Risk-Free Interest Rate - Deep, Liquid and Transparent maturities Risk-Free Interest Rate - Extrapolation Risk-Free Interest Rate - Extrapolation, Risk-Free Interest Rate - Financial market data Risk-Free Interest Rate - Extrapolation, Risk-Free Interest Rate - General questions, Risk-Free Interest Rate - VA calculations Risk-Free Interest Rate - Financial market data Risk-Free Interest Rate - General questions Risk-Free Interest Rate - Matching adjustment Risk-Free Interest Rate - Matching adjustment, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) Risk-Free Interest Rate - VA calculations Risk-Free Interest Rate - VA calculations, Risk-Free Interest Rate - VA representative portfolios Risk-Free Interest Rate - VA representative portfolios Securities Financing Transactions Regulation (SFTR) Regulation (EU) 2015/2365- MDP Securitisation Regulation (EU) 2017/2402 SFDR Short Selling Regulation (SSR) Regulation (EU) No 236/2012 Symmetric adjustment of the equity capital charge Transparency Directive (TD) Directive 2004/109/EC Undertakings for Collective Investment in Transferable Securities Directive (UCITS) Directive 2009/65/EC
7,005 Q&As · page 3 of 141
Template Z08.01: Validation rules contradict ITS requirements
Directive 2014/59/EU (BRRD) · Art. 11
EBA Final Q&A
Answered 2026-04-03
Reporting of key values for open sheet tables starting with Z 07.01
Directive 2014/59/EU (BRRD) · Art. 11
EBA Final Q&A
Answered 2026-04-03
Résolution 1 - how liabilities have to be reported on column 0056 of Z11.00
Directive 2014/59/EU (BRRD) · Art. 7
EBA Final Q&A
Answered 2026-04-03
ITS (Annex II: Instructions), II.20.4, p. 64 II. 20 Z 08.01— Relevant services (SERV 1) II.8.1; General instructions
Directive 2014/59/EU (BRRD) · Art. Annex II: Instructions, I.20.4, p. 64 II.
EBA Final Q&A
Answered 2026-04-03
Reporting Framework 4.2 - Z_09.02 - FMI services - Mapping to Critical and Essential FMIs
Directive 2014/59/EU (BRRD) · Art. 4
EBA Final Q&A
Answered 2026-04-03
Amount to be reported as MREL eligible amount and amount qualifying as Own Funds non-CET1 instruments, taking into account phase-out as applicable
Directive 2014/59/EU (BRRD) · Art. Article 45b
EBA Final Q&A
Answered 2026-04-03
Reporting of unused prior permission amounts with no specification of subordination
Directive 2014/59/EU (BRRD) · Art. 45i
EBA Final Q&A
Answered 2026-04-03
Trading status for on halt/suspended instruments
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets
ESMA Answer Published
Answered 2026-04-01
Consolidated Tape Provider (CTP)
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets
ESMA Answer Published
Answered 2026-04-01
Consolidated Tape Provider (CTP)
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets
ESMA Answer Published
Answered 2026-04-01
Consolidated Tape Provider (CTP)
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets · Art. Article 22 of MiFIR
ESMA Published Answer Updated
Answered 2026-04-01
Consolidated Tape Provider (CTP)
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets · Art. Article 22 of MiFIR
ESMA Published Answer Updated
Answered 2026-04-01
Consolidated Tape Provider (CTP)
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets
ESMA Answer Published
Answered 2026-04-01
Consolidated Tape Provider (CTP)
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets · Art. Article 22 of MiFIR
ESMA Answer Published
Answered 2026-04-01
Consolidated Tape Provider (CTP)
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets · Art. Articles 5, 6 and 12(1) of Commission Delegated Regulation (EU) 2025/1155
ESMA Answer Published
Answered 2026-04-01
Solvency Capital Requirement (SCR)
(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 140
EIOPA
Answered 2026-03-31
Reporting Templates
(EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision · Art. N/A
EIOPA
Answered 2026-03-31
Reporting Templates
(EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision · Art. N/A
EIOPA
Answered 2026-03-31
Risk Free Rate (RFR)
Risk-Free Interest Rate - General questions
EIOPA
Answered 2026-03-31
Reporting Templates
(EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
EIOPA
Answered 2026-03-26
Own Risk and Solvency Assessment (ORSA)
Guidelines on the Forward looking assessment of own risks
EIOPA
Answered 2026-03-25
Solvency Capital Requirement (SCR)
(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 168
EIOPA
Answered 2026-03-24
Reporting Templates
(EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
EIOPA
Answered 2026-03-24
Reporting Templates
(EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
EIOPA
Answered 2026-03-24
Definitions (Art. 2 IDD)
(EU) No 2016/97 - Insurance Distribution Directive · Art. 2
EIOPA
Answered 2026-03-24
3521
(EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
EIOPA
Answered 2026-03-23
Reporting Templates
(EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
EIOPA
Answered 2026-03-23
Reporting Templates
(EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
EIOPA
Answered 2026-03-23
Solvency Capital Requirement (SCR)
(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. Article 192
EIOPA
Answered 2026-03-23
Exemption for SPO providers
ESGR - Regulation (EU) 2024/3005
ESMA Answer Published
Answered 2026-03-18
ESG ratings used for internal purposes or in-house financial services
ESGR - Regulation (EU) 2024/3005
ESMA Answer Published
Answered 2026-03-18
COREP Additional Liquidity Monitoring Metrics - technical implementation of DPM v4.2 for template C_67.00.a and C_67.00.w - SubCategory "new_CO4" used instead of "new_CO1"
Regulation (EU) No 575/2013 (CRR) · Art. 415
EBA Final Q&A
Answered 2026-03-13
Use of credit assessments by ECAIs not in scope of Regulation (EC) No 1060/2009.
Regulation (EU) No 575/2013 (CRR) · Art. 135
EBA Final Q&A
Answered 2026-03-13
3182
(EU) 2017/653 - PRIIPs Delegated Regulation for key information document · Art. Annex II Part 1 Point 4 lit. c
EIOPA
Answered 2026-03-09
Key information document (KID), Packaged retail and insurance-based investment products (PRIIPs)
(EU) 2017/653 - PRIIPs Delegated Regulation for key information document · Art. point 5 of Annex II of the Delegated Regulation
EIOPA
Answered 2026-03-09
Advice (Art. 34 PEPP), Freedom to provide services and freedom of establishment (Art. 14 – 16 PEPP)
(EU) 2019/1238 - Pan-European Personal Pension Product (PEPP) · Art. N/A
EIOPA
Answered 2026-03-06
Own Funds (OF)
Guidelines on classification of own funds · Art. SECTION 2 - Classification of Own Funds
EIOPA
Answered 2026-03-05
Updating the Loan Value and Security Price Fields following lifecycle events
Securities Financing Transactions Regulation (SFTR) Regulation (EU) 2015/2365- MDP
ESMA Answer Published
Answered 2026-03-03
Payment for order flow (PFOF) prohibition and client instructions for order executions
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014 - Investor Protection and Intermediaries · Art. Article 39a
ESMA Answer Published
Answered 2026-03-03
Payment for order flow (PFOF) prohibition and OTC execution of client orders
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014 - Investor Protection and Intermediaries · Art. Article 39a
ESMA Answer Published
Answered 2026-03-03
Investment firms’ use of rebates and discounts to lower fees for clients under the payment for order flow (PFOF) prohibition
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014 - Investor Protection and Intermediaries · Art. Article 39a, Paragraph 1
ESMA Answer Published
Answered 2026-03-03
Payment for order flow (PFOF) prohibition: scope for rebates or discounts on transaction fees or any other benefits for investment firms acting on behalf of retail clients or opt-in professional clients
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014 - Investor Protection and Intermediaries · Art. Article 39a, Paragraph 1
ESMA Answer Published
Answered 2026-03-03
AAR threshold calculation
Regulation 648/2012 - OTC derivatives, central counterparties and trade repositories (EMIR) - CCPs · Art. Article 7a
ESMA Answer Published
Answered 2026-02-27
AAR representativeness obligation
Regulation 648/2012 - OTC derivatives, central counterparties and trade repositories (EMIR) - CCPs · Art. Article 7a
ESMA Answer Published
Answered 2026-02-27
AAR stress testing
Regulation 648/2012 - OTC derivatives, central counterparties and trade repositories (EMIR) - CCPs · Art. Article 7a(3)
ESMA Answer Published
Answered 2026-02-27
AAR representativeness obligation
Regulation 648/2012 - OTC derivatives, central counterparties and trade repositories (EMIR) - CCPs · Art. Article 7a
ESMA Answer Published
Answered 2026-02-27
US Hard test: adequacy of considering US charge-off rates corresponding to loss rates for exposures secured by residential property or commercial immovable property situated within the territory of the US
Regulation (EU) No 575/2013 (CRR) · Art. 199
EBA Final Q&A
Answered 2026-02-27
Solvency Capital Requirement (SCR)
(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 187
EIOPA
Answered 2026-02-27
Key information document (KID)
(EU) No 1286/2014 - PRIIPs Regulation · Art. Annex VI, Art 68 (part 1)
EIOPA
Answered 2026-02-27
MiFID II remuneration rules applicable to tied agents
Directive 2014/65/EU - Markets in Financial Instruments Directive (MiFID II)
ESMA Answer Published
Answered 2026-02-23
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