EU Financial Regulatory Q&A Database

Are the redemption prices of open-ended real estate AIFs "prices" within the meaning of point 5 of Annex II of the Delegated Regulation?

PRIIPs

[Question deleted] (Revised 21 December 2022) 3. Which form and name should the ‘specific information on each underlying investment option’, referred to in Article 14 of the Delegated Regulation, tak

PRIIPs

Could you clarify for which intermediate holding periods should we show performance scenarios during the lifetime of a product? (E.g.: 1.1 years product, with remaining lifetime of 9 months). We belie

PRIIPs

It should be clarified in Annex I of the Delegated Regulation, where the name of the group should be included and whether it should be shown in bold.

PRIIPs

[Question deleted] (Revised 21 December 2022) 8. The paragraph which comes directly after the heading “Table 1” (“The person advising on or selling you this product …”) is duplicate in view to Elemen

PRIIPs

What is the meaning of ‘whether this approach includes or implies a reference to a benchmark’ in Article 2a(d) of the Delegated Regulation? A UCITS or AIF managed in reference to a benchmark index is

PRIIPs

If a UCITS, AIF or unit-linked insurance-based investment product does not yet have past performance data for one complete calendar year (and is not a UCITS or AIF which may provide simulated data for

PRIIPs

What approach should be taken for Category 2 PRIIPs for which there is not an appropriate benchmark or proxy with sufficient historical data which meets the criteria set out in point 5 of Annex IV of

PRIIPs

For Category 2 PRIIPs, is it possible to use lower percentiles of the estimated distribution of outcomes as foreseen in point 24 of the Delegated Regulation?

PRIIPs

When several versions of a benchmark are available which differ in the approach taken to reinvestment of revenues, which version should be used in the past performance chart?

PRIIPs

What is the meaning of indicating ‘the degree of freedom from the benchmark’ in Article 2a(d) of the Delegated Regulation?

PRIIPs

Can a fund with multiple share classes use the price history of an existing share class when a new share class is created rather than use the price history of a benchmark?

PRIIPs

Do the rules concerning the UCITS key investor information document (KIID) still apply?

PRIIPs

The UCITS KIID framework introduced the concept of “Absolute Return Funds”. For these types of funds, there is no need to select an appropriate risk benchmark and the UCITS SRRI is determined in its e

PRIIPs

In the Delegated Regulation, the VEV for flexible funds is determined by taking the maximum of the three following options: 1. VEV of the returns of the share class self-history, 2. VEV of the returns

PRIIPs

Is it possible to show the complete name of the PRIIP when first mentioned in the KID and then simply refer to it as “the product” or “the Fund” thereafter?

PRIIPs

What type of information should be included in the “What is this product?” section of the KID of index-tracking UCITS and index-tracking leveraged UCITS? For index-tracking UCITS, the following inform

PRIIPs

Point 52(h) of Annex VI indicates that transaction costs are included in the ‘other ongoing costs’. What does this mean in terms of where transaction costs should be included in table 2 ‘Composition o

PRIIPs

Annex VII of the Delegated Regulation, Table 2 on composition of costs: Cost elements in the “composition of costs” table are to be presented assuming a 0% annual return which is consistent with the p

PRIIPs

Should existing retail investors within a UCITS umbrella fund, who switch or exchange units in one sub-fund for units in another, be provided with the KID for the sub-fund in which they are going into

PRIIPs

In terms of the identification of sub intervals in point 7(a) of Annex IV of the Delegated Regulation are these all contained within in the time period defined in point 6 of Annex IV?

PRIIPs

Is it possible to signpost to a glossary?

PRIIPs

Maturity floor in Standard Method for CVA

Regulation (EU) No 575/2013 (CRR) · Art. 384

Valuation of ASA: financial instruments with a negative fair value

Regulation (EU) No 2019/2033 (IFR) · Art. 19

Preferential risk weight for exposures to central governments and central banks under Article 114(4) of CRR

Regulation (EU) No 575/2013 (CRR) · Art. 114

Application of Articles 52 and 54 of Regulation No. 575/2013 (CRR) at consolidated level

Regulation (EU) No 575/2013 (CRR) · Art. 52

Definition and scope of Asset Under Management

Regulation (EU) No 2019/2033 (IFR) · Art. 4

Definition of private equity exposures in articles 155(2) and 155(3)

Regulation (EU) No 575/2013 (CRR) · Art. 155

Scope of COH definition under IFR

Regulation (EU) No 2019/2033 (IFR) · Art. 4

Nature and treatment of off-balance financial leasing exposures (generated by the lag between the order of the asset and the rental starting date)

Regulation (EU) No 575/2013 (CRR) · Art. 166

Delta calculation internal models

Regulation (EU) No 575/2013 (CRR) · Art. 329

Risk weights for exposures towards Member States’ central governments and central banks denominated and funded in the domestic currency of that central government and central bank.

Regulation (EU) No 575/2013 (CRR) · Art. 114

Treatment of an institution’s investments into EU AIF managed by a non-EU AIFM and into closed-ended CIUs

Regulation (EU) No 575/2013 (CRR) · Art. 132

Reduction of own funds according to Article 78(1)(a) CRR

Regulation (EU) No 575/2013 (CRR) · Art. 78

Outsourcing

(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. EIOPA-BoS-20-002 Guidelines on outsourcing to cloud service providers

Treatment of cash on Nostro accounts – i.e., Bank’s cash held by a third party institution acting as a service provider for payment and settlement purposes

Regulation (EU) No 575/2013 (CRR) · Art. 134

Classification of a gurantees for trade finance off-balance sheet items according to annex 1.

Regulation (EU) No 575/2013 (CRR) · Art. Annex 1

Consideration of Cloud services as outsourcing arrangements

Directive 2013/36/EU (CRD) · Art. 74

Reporting Templates

(EU) No 2015/2450 - templates for the submission of information to the supervisory authorities · Art. Article 35 of SII Directive

Long Term Guarantees (LTGs)

(EU) No 2015/2450 - templates for the submission of information to the supervisory authorities · Art. Article 35 of SII Directive

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. 176

Valuation of Assets and Liabilities other than TPs

(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 · Art. Article 176 of the Delegated Regulation (EU) 2015/35

Risk Free Rate (RFR)

Risk-Free Interest Rate - Credit and currency adjustments · Art. N/A

Risk Free Rate (RFR)

Risk-Free Interest Rate - Extrapolation · Art. N/A

C 91.00: Relevant scenario for own funds requirements

Regulation (EU) No 575/2013 (CRR) · Art. 430

v7386_m and v7387_m (COREP)

Regulation (EU) No 575/2013 (CRR) · Art. 430

Inclusion of CCR into C 08.07 and CR6-A

Regulation (EU) No 575/2013 (CRR) · Art. 430

C 34.06 - Counterparty with dual Counterparty Type

Regulation (EU) No 575/2013 (CRR) · Art. 430

Reporting of gold positions in C 22.00

Regulation (EU) No 575/2013 (CRR) · Art. 1

Classification of derivative exposures in a CIU for standardised approach

Regulation (EU) No 575/2013 (CRR) · Art. 430