Own funds and detailed information by tiers on own funds: two values must match (S.23.01, S.23.02, EIOPA rule BV105)

The rule in plain words

The headline gives only the template and the kind of check, because the rule is too long to say in a headline. The plain words above say all of it.

What to do if your return fails it

1. 01Open the tables below and find the cells the rule reads.
2. 02The two values must be the same. Find which of the two is right, and correct the other one.
3. 03EIOPA allows a small rounding difference, worked out from the decimals each value is reported with.
4. 04It runs only when your filing indicators mark S.23.01 and S.23.02 as reported.
5. 05This is a blocking check. A return that fails it is normally rejected, so fix it before you submit.

The cells it reads

A worked example

With simple numbers.

Which returns it applies to

Line4 Check runs it on annual group (ARG) return on EIOPA taxonomy 2.10.0. EIOPA applies it to annual group (ARG) returns, as a blocking check.

EIOPA’s own words and formula

In EIOPA’s list of validations, word for word:

The item "Total Tier 1" value of "Total initial fund members' contribution or the equivalent basic own - fund item for mutual and mutual type undertakings" reported in the template S.23.02 - Detailed information by tiers on own funds must be equal to the "Tier 1 - unrestricted" value of "Initial funds, members' contributions or the equivalent basic own-fund item or mutual and mutual-type undertakings" reported in the template S.23.01 - Own funds.

Other rules on Own funds (S.23.01)

Every Solvency II rule on S.23.01

Checks like this one, run at the point of submission, are the first step to real-time supervision. Line4 builds SupTech software for financial regulators that runs checks like these as each return arrives.