Own funds: two values must match (S.23.01, EIOPA rule BV539)

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.

EIOPA writes it out as separate checks, one for each table or return it covers. Line4 Check runs two of them (BV539-3 and BV539-4), and a failure names the one that failed.

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. 03It runs only when your filing indicators mark S.23.01 as reported.
4. 04This 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

The first of its checks, with simple numbers.

Which returns it applies to

Line4 Check runs it on quarterly solo (QRS) and quarterly branch (QRB) returns on EIOPA taxonomy 2.10.0. EIOPA applies it to quarterly ECB solo (QES), quarterly solo (QRS), quarterly ECB branch (QEB) and quarterly branch (QRB) returns, as a blocking check.

EIOPA’s own words and formula

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

The "Total" value of the "Available and eligible own funds/Total available own funds to meet the MCR" figure reported in the template S.23.01 - Own funds must be equal to the sum of the same item for "Total available own funds to meet the SCR".

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.