The rule in plain words
Item "Use of derivative" and "Unique Transactions Identifier" in Open Derivatives (S.08.01) must be reported
EIOPA writes it out as separate checks, one for each table or return it covers. Line4 Check runs two of them (BV1139-1 and BV1139-2), and a failure names the one that failed.
What to do if your return fails it
- 01Open the tables below and find the cells the rule reads.
- 02The check applies only when its first part holds in your return. When it does, the second part must hold too: fix the second part, or correct the first.
- 03It runs only when your filing indicators mark S.08.01 as reported.
- 04This is a blocking check. A return that fails it is normally rejected, so fix it before you submit.
The cells it reads
Open derivatives: information on positions held (S.08.01.01.01)
Columns
- C0041Unique Transactions Identifier
- C0110Use of derivative
- C0240Solvency II value
Open derivatives: information on positions held (S.08.01.04.01)
Columns
- C0041Unique Transactions Identifier
- C0110Use of derivative
- C0240Solvency II value
Which returns it applies to
Line4 Check runs it on quarterly solo (QRS), quarterly group (QRG) and quarterly branch (QRB) returns on EIOPA taxonomy 2.10.0. EIOPA applies it to quarterly group (QRG), annual group (ARG), quarterly ECB branch (QEB), quarterly ECB solo (QES), quarterly branch (QRB), quarterly solo (QRS), annual branch (ARB), annual solo (ARS), annual ECB solo (AES) and annual ECB branch (AEB) returns, as a blocking check.
EIOPA’s own words and formula
In EIOPA’s list of validations, word for word:
Item "Use of derivative" and "Unique Transactions Identifier" in S.08.01 - Open Derivatives must be reported.
Show the formulaShowHide
EIOPA's formula, for BV1139-2. Cells are written as {t: table, r: row, c: column}.
if (not(isNull({t: S.08.01.01.01, c: C0240, z: Z0001}))) then not(isNull({t: S.08.01.01.01, c: C0110, z: Z0001})) and not(isNull({t: S.08.01.01.01, c: C0041, z: Z0001})) else true()BV1139-1:
if (not(isNull({t: S.08.01.04.01, c: C0240, z: Z0001}))) then not(isNull({t: S.08.01.04.01, c: C0110, z: Z0001})) and not(isNull({t: S.08.01.04.01, c: C0041, z: Z0001})) else true()Other rules on Open derivatives (S.08.01)
- Open derivatives: the first two letters are not valid ISO3166 country code (BV1148)Blocking
- The item "Contract size" in Open Derivatives should be reported for futures and options (CIC '##A#' or '##B#' or '##C#' or ‘##F2’) (BV1071)
- Open derivatives: the format of a code or text (BV1233)Blocking
- Open derivatives: the format of a code or text (BV1243)Blocking
- Item "Swap inflow amount" should be positive or equal to zero (BV1029)
- Item "Swap outflow amount" should be positive or equal to zero (BV1028)
- The item "Maximum loss under unwinding event" in Open Derivatives should be positive or equal to zero (BV1027)
- The item "Contract size" in Open Derivatives should be positive (BV1026)
Every Solvency II rule on S.08.01
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.