Open derivatives: a check on its values (S.08.01, EIOPA rule BV802)

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 (BV802-1 and BV802-2), and a failure names the one that failed.

This is a blocking check. A return that fails it is normally rejected, so fix it before you submit. It runs only when your filing indicators mark S.08.01 as reported.

The cells it reads

Which returns it applies to

Line4 Check runs it on quarterly solo (QRS), quarterly group (QRG), quarterly branch (QRB), annual solo (ARS), annual group (ARG) and annual branch (ARB) 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:

The items "Premium paid to date" and "Premium received to date" in S.08.01 - Open Derivatives are not applicable for futures and forwards (CIC ##A# and ##E#).

Other rules on Open derivatives (S.08.01)

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.