The item "Acquisition value" in List of assets should not be reported in case of CIC 7 and CIC 8 (IR.06.02, Bank of England rule IR_bv0557_01)

The rule in plain words

What to do if your return fails it

1. 01Open the tables below and find the cells the rule reads.
2. 02Remove the value from this cell where the rule applies. A 0 is a value too, so leave the cell out of the return altogether.
3. 03It runs only when your filing indicators mark IR.06.02 as reported.
4. 04This is a warning. It does not stop the return on its own, but your supervisor may ask you to explain it.

The cells it reads

Which returns it applies to

Line4 Check runs it on quarterly solo (QRS) and annual solo (ARS) returns on Bank of England taxonomy 2.2.0. The Bank of England applies it to quarterly solo (QRS) and annual solo (ARS) returns, as a warning.

The Bank’s own words and formula

In the Bank of England’s list of validations, word for word:

The item "Acquisition value" in IR.06.02 - List of assets should not be reported in case of CIC 7 and CIC 8.

Other rules on List of assets (IR.06.02)

Every Solvency UK rule on IR.06.02

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.