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 44 of 141
If a financial adviser only considers in its advisory process products which are not in scope
of Regulation (EU) 2019/2088 (i.e. shares of listed companies, corporate bonds, etc.),
should the financia
SFDR
Joint Committee Final
Answered 2022-05-17
Definitions (Art. 2 IDD)
(EU) No 2016/97 - Insurance Distribution Directive · Art. 1(6) and 2
EIOPA
Answered 2022-05-16
Review and evaluation
Central Securities Depositories Regulation (CSDR) Regulation (EU) No 909/2014- PTR- CSDR
ESMA Answer Published
Answered 2022-05-12
Solvency Capital Requirement (SCR)
(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 · Art. Article 84(1) and 84(2) of the Commission Delegated Regulations 2015/35
EIOPA
Answered 2022-05-06
Information and Communication Technology (ICT)
(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. Article 274(4) (k) and (l) of Commission Delegated Regulation (EU) 2015/35
EIOPA
Answered 2022-05-06
Definitions (Art. 2 IDD)
(EU) No 2016/97 - Insurance Distribution Directive, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) · Art. Article 13 of the SII Directive
EIOPA
Answered 2022-04-13
ASPSP restricting access for TPPs who embeds the redirect
Directive 2015/2366/EU (PSD2) · Art. 68
EBA Final Q&A
Answered 2022-04-13
Application of the exemption under Article 10 RTS and EBICS T
Directive 2015/2366/EU (PSD2) · Art. 97
EBA Final Q&A
Answered 2022-04-13
Payment Initiation Service - Batch payment / bulk payment
Directive 2015/2366/EU (PSD2) · Art. 97
EBA Final Q&A
Answered 2022-04-13
Re-engineering by TPP of the ASPSP’s redirect API and PSU customer journey
Directive 2015/2366/EU (PSD2) · Art. 97
EBA Final Q&A
Answered 2022-04-13
SCA requirements with dynamic linking for mobile initiated credit transfers (MSCTs)
Directive 2015/2366/EU (PSD2) · Art. Article 97
EBA Final Q&A
Answered 2022-04-13
Clarification of remote payment for dynamic linking
Directive 2015/2366/EU (PSD2) · Art. 97
EBA Final Q&A
Answered 2022-04-13
Technical Provisions (TPs)
(EU) No 2015/2450 - templates for the submission of information to the supervisory authorities · Art. ANNEX III
EIOPA
Answered 2022-04-07
Own Funds (OF)
(EU) No 2015/2450 - templates for the submission of information to the supervisory authorities · Art. N/A
EIOPA
Answered 2022-04-07
Reporting Templates
(EU) No 2015/2450 - templates for the submission of information to the supervisory authorities · Art. N/A
EIOPA
Answered 2022-04-05
Reporting Templates
(EU) No 2015/2450 - templates for the submission of information to the supervisory authorities · Art. N/A
EIOPA
Answered 2022-04-05
Reporting Templates
(EU) No 2015/2450 - templates for the submission of information to the supervisory authorities · Art. N/A
EIOPA
Answered 2022-04-05
Risk concentration
(EU) No 2015/2450 - templates for the submission of information to the supervisory authorities · Art. Article 335(1)f of the Delegated Regulation 2015/35
EIOPA
Answered 2022-04-05
Application of the APM Guidelines in the context of COVID-19; Paragraphs 8, 17-19, 33, 34, 41 and 43 of the APM Guidelines.
Transparency Directive (TD) Directive 2004/109/EC
ESMA Answer Published
Answered 2022-04-01
Labels used by issuers on ESG financial measures; Paragraphs 3, 4, 8, 17, 22, 33 of the APM Guidelines.
Transparency Directive (TD) Directive 2004/109/EC
ESMA Answer Published
Answered 2022-04-01
Application of the APM Guidelines to measures related to ESG matters; Paragraphs 3, 4, 17, 21, 22, 26, 33, 35, 37 and 41 of the APM Guidelines.
Transparency Directive (TD) Directive 2004/109/EC
ESMA Answer Published
Answered 2022-04-01
ESG factors reflected in the benchmark statement and methodology (ESMA70-145-114 QAs on BMR Q&A 10.1)
Benchmarks Regulation (BMR) - Regulation 2016/1011
ESMA Answer Published
Answered 2022-04-01
ESG factors reflected in the benchmark statement and methodology (ESMA 70-145-114 QAs on BMRs Q&A 10.2)
Benchmarks Regulation (BMR) - Regulation 2016/1011
ESMA Answer Published
Answered 2022-04-01
ESG factors reflected in the benchmark statement and methodology (ESMA 70-145-114 QAs on BMR Q&A 10.3)
Benchmarks Regulation (BMR) - Regulation 2016/1011
ESMA Answer Published
Answered 2022-04-01
ESG factors reflected in the benchmark statement and methodology (ESMA70-145-114 QAs on BMR Q&A 10.4)
Benchmarks Regulation (BMR) - Regulation 2016/1011
ESMA Answer Published
Answered 2022-04-01
ESG factors reflected in the benchmark statement and methodology (ESMA 70-145-114 QAs on BMR Q&A 10.5)
Benchmarks Regulation (BMR) - Regulation 2016/1011
ESMA Answer Published
Answered 2022-04-01
ESG factors reflected in the benchmark statement and methodology (ESMA 70-145-114 QAs on BMR Q&A 10.6)
Benchmarks Regulation (BMR) - Regulation 2016/1011
ESMA Answer Published
Answered 2022-04-01
Chief Risk Officer (CRO) Chairman Credit Risk Committee
Directive 2013/36/EU (CRD) · Art. 76
EBA Final Q&A
Answered 2022-04-01
Treatment of tax accounts
Regulation (EU) No 575/2013 (CRR) · Art. 416
EBA Final Q&A
Answered 2022-04-01
Classification of “Undrawn term loans” under Article 23(1)(b) LCR DA
Regulation (EU) No 575/2013 (CRR) · Art. 412
EBA Final Q&A
Answered 2022-04-01
Fulfilment of conditions reported under Article 45(a) CRR for a synthetic holding held in the banking book and with a maturity less than 1 year
Regulation (EU) No 575/2013 (CRR) · Art. 45
EBA Final Q&A
Answered 2022-04-01
Definition of short position
Regulation (EU) No 575/2013 (CRR) · Art. 45
EBA Final Q&A
Answered 2022-04-01
Transactions in the banking book where no strike is available
Regulation (EU) No 575/2013 (CRR) · Art. 36
EBA Final Q&A
Answered 2022-04-01
Client servicing in the definition of the trading book
Regulation (EU) No 575/2013 (CRR) · Art. 4
EBA Final Q&A
Answered 2022-04-01
MiFIR data reporting - LEI of the issuer
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- MDP
ESMA Answer Published
Answered 2022-03-25
MiFIR data reporting - Instrument identification code and Underlying instrument code
Securities Financing Transactions Regulation (SFTR) Regulation (EU) 2015/2365- MDP
ESMA Answer Published
Answered 2022-03-25
Reporting of Nominal value per unit and minimum traded value
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- MDP
ESMA Answer Published
Answered 2022-03-25
Reporting Templates
(EU) No 2015/2450 - templates for the submission of information to the supervisory authorities, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) · Art. Article 35 of SII Directive
EIOPA
Answered 2022-03-25
Currency for the Overview and Margin reports (Guidelines on calculation of positions in SFTs by trade repositories)
Securities Financing Transactions Regulation (SFTR) Regulation (EU) 2015/2365- MDP
ESMA Answer Published
Answered 2022-03-22
Technical Provisions (TPs)
Guidelines on valuation of technical provisions · Art. Guideline 68
EIOPA
Answered 2022-03-18
Technical Provisions (TPs)
(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) · Art. Article 17 and 28 of the Delegated Regulation 2015/35; Article 76.4 of the Solvency II Directive
EIOPA
Answered 2022-03-18
Estimation of default probability and loss given default under the internal default risk model for a trading book position, where those estimates are not available at trade date under an approved IRB approach
Regulation (EU) No 575/2013 (CRR) · Art. 325bp
EBA Final Q&A
Answered 2022-03-18
Application of the provisions described in paragraphs 10 to 12 of Article 133 (systemic risk buffer, SyRB)
Directive 2013/36/EU (CRD) · Art. 133
EBA Final Q&A
Answered 2022-03-18
Subcontractor of electronic money distributor
Directive 2009/110/EC (EMD) · Art. 3
EBA Final Q&A
Answered 2022-03-18
Interaction between 45f(3) and 45f(4) BRRD
Directive 2014/59/EU (BRRD) · Art. 45f
EBA Final Q&A
Answered 2022-03-18
Topping-up e-money accounts with voucher-based products
Directive 2009/110/EC (EMD) · Art. 2 and 3
EBA Final Q&A
Answered 2022-03-18
Fees on issuing eletronic money
Directive 2009/110/EC (EMD) · Art. 11
EBA Final Q&A
Answered 2022-03-18
Access to account for FinTech Solutions that incorporate regulated services
Directive 2015/2366/EU (PSD2) · Art. 4, 66 and 67
EBA Final Q&A
Answered 2022-03-18
Money Remittance
Directive 2015/2366/EU (PSD2) · Art. 4
EBA Final Q&A
Answered 2022-03-18
Acquisition and money remittance payment service
Directive 2015/2366/EU (PSD2) · Art. 4.12, 4.24, 4.44, 10, 87.2 and Recital 37
EBA Final Q&A
Answered 2022-03-18
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