The rule in plain words
"Instrument underlying the derivative (code and type of code)" (S.08.01.01.01 C0090) follows "^CAU/ISIN/*" but ISIN is invalid or currency code is invalid
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
- 01Open the tables below and find the cells the rule reads.
- 02Compare the code or text in your return with the format the rule sets out, character by character, including any prefix and any spaces.
- 03This 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
- C0060Portfolio
- C0080Derivatives held in index-linked and unit-linked contracts
- C0110Use of derivative
- C0131Notional amount of the derivative
- C0140Buyer / Seller
- C0150Premium paid to date
- C0160Premium received to date
- C0170Number of contracts
- C0180Contract size
- C0190Maximum loss under unwinding event
- C0200Swap outflow amount
- C0210Swap inflow amount
- C0220Initial date
- C0230Duration
- C0240Solvency II value
- C0250Valuation method
Open derivatives: information on positions held (S.08.01.04.01)
Columns
- C0010Legal name of the undertaking
- C0041Unique Transactions Identifier
- C0060Portfolio
- C0080Derivatives held in index-linked and unit-linked contracts
- C0110Use of derivative
- C0131Notional amount of the derivative
- C0140Buyer / Seller
- C0150Premium paid to date
- C0160Premium received to date
- C0170Number of contracts
- C0180Contract size
- C0190Maximum loss under unwinding event
- C0200Swap outflow amount
- C0210Swap inflow amount
- C0220Initial date
- C0230Duration
- C0240Solvency II value
- C0250Valuation method
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 ECB branch (QEB), quarterly ECB solo (QES), annual branch (ARB), annual solo (ARS), financial stability group (QFG), quarterly group (QRG), financial stability solo (QFS), financial stability branch (QFB), quarterly branch (QRB), quarterly solo (QRS), annual ECB solo (AES), annual ECB branch (AEB) and annual group (ARG) returns, as a blocking check.
EIOPA’s own words and formula
In EIOPA’s list of validations, word for word:
dim:IW follows "^CAU/ISIN/*" but ISIN is invalid or currency code is invalid.
Show the formulaShowHide
EIOPA's formula. Cells are written as {t: table, r: row, c: column}.
if (matches(dim({d: [s2c_dim:IW]},[s2c_dim:IW]), "^CAU/ISIN/.*")) then isinChecksum(substring(dim({d: [s2c_dim:IW]},[s2c_dim:IW]), 10, 12)) and matches(substring(dim({d: [s2c_dim:IW]},[s2c_dim:IW]), 22), "^\+(EUR|AED|AFN|ALL|AMD|ANG|AOA|ARS|AUD|AWG|AZN|BAM|BBD|BDT|BGN|BHD|BIF|BMD|BND|BOB|BOV|BRL|BSD|BTN|BWP|BYN|BYR|BZD|CAD|CDF|CHE|CHF|CHW|CLF|CLP|CNY|COP|COU|CRC|CUC|CUP|CVE|CZK|DJF|DKK|DOP|DZD|EEK|EGP|ERN|ETB|FJD|FKP|GBP|GEL|GHS|GIP|GMD|GNF|GTQ|GYD|HKD|HNL|HRK|HTG|HUF|IDR|ILS|INR|IQD|IRR|ISK|JMD|JOD|JPY|KES|KGS|KHR|KMF|KPW|KRW|KWD|KYD|KZT|LAK|LBP|LKR|LRD|LSL|LTL|LVL|LYD|MAD|MDL|MGA|MKD|MMK|MNT|MOP|MRO|MRU|MUR|MVR|MWK|MXN|MXV|MYR|MZN|NAD|NGN|NIO|NOK|NPR|NZD|OMR|PAB|PEN|PGK|PHP|PKR|PLN|PYG|QAR|RON|RSD|RUB|RWF|SAR|SBD|SCR|SDG|SEK|SGD|SHP|SLE|SOS|SRD|SSP|STD|STN|SVC|SYP|SZL|THB|TJS|TMT|TND|TOP|TRY|TTD|TWD|TZS|UAH|UGX|USD|USN|USS|UYI|UYU|UYW|UZS|VES|VND|VUV|WST|XAF|XAG|XAU|XBA|XBB|XBC|XBD|XCD|XDR|XFU|XOF|XPD|XPF|XPT|XSU|XTS|XUA|YER|ZAR|ZMK|ZMW|ZWL)$") else true()Other rules on Open derivatives (S.08.01)
- Open derivatives: the format of a code or text (BV1417)Blocking
- There is at least one derivative reported in Table 1 of S.08.01 that is not reported in Table 2 of S.08.01 (BV1283)Blocking
- There is at least one derivative reported in Table 1 of S.08.01 that is not reported in Table 2 of S.08.01 (BV1282)Blocking
- Open derivatives: the format of a code or text (BV1269)Blocking
- Open derivatives: the format of a code or text (BV1243)Blocking
- Open derivatives: the format of a code or text (BV1233)Blocking
- Open derivatives: the first two letters are not valid ISO3166 country code (BV1148)Blocking
- Item "Use of derivative" and "Unique Transactions Identifier" in Open Derivatives must be reported (BV1139)Blocking
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.