The rule in plain words
Item "Difference in the valuation of assets" is different from the difference between the "Solvency II value" and "Statutory accounts value" of "Total Assets" in IR.02.01
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.
This is a warning. It does not stop the return on its own, but your supervisor may ask you to explain it. It runs only when your filing indicators mark IR.02.01 and IR.23.02 as reported.
The cells it reads
Balance sheet (IR.02.01.01.01)
Row
- R0500Total assets
Columns
- C0010Solvency II value
- C0020Statutory accounts value
Detailed information by tiers on own funds: excess of assets over liabilities - attribution of valuation differences (IR.23.02.04.03)
Row
- R0600Difference in the valuation of assets
Column
- C0110Total
Which returns it applies to
Line4 Check runs it on annual group (ARG) return on Bank of England taxonomy 2.2.0. The Bank of England applies it to annual group (ARG) returns, as a warning.
The Bank’s own words and formula
The plain words above are the Bank of England’s own, word for word, from its list of validations.
Show the formulaShowHide
The Bank of England's formula. Cells are written as {t: table, r: row, c: column}.
abs({t: IR.23.02.04.03, r: R0600, c: C0110, z: Z0001}) = abs({t: IR.02.01.01.01, r: R0500, c: C0010} - {t: IR.02.01.01.01, r: R0500, c: C0020})Other rules on Balance sheet (IR.02.01)
- Balance sheet: a total must equal the sum of its parts (IR_bv0684_01)Blocking
- Balance sheet: a total must equal the sum of its parts (IR_bv0684_02)Blocking
- Balance sheet: a total must equal the sum of its parts (IR_bv0684_03)Blocking
- The item "Total assets" reported in Balance sheet should be equal to the sum of the different items reported above (IR_bv0685_01)Blocking
- The item "Total assets" reported in Balance sheet should be equal to the sum of the different items reported above (IR_bv0685_02)Blocking
- The item "Equities" reported in Balance sheet should be equal to the sum of "Equities - listed" and "Equities - unlisted" (IR_bv0674_01)Blocking
- The item "Equities" reported in Balance sheet should be equal to the sum of "Equities - listed" and "Equities - unlisted" (IR_bv0674_02)Blocking
- The item "Equities" reported in Balance sheet should be equal to the sum of "Equities - listed" and "Equities - unlisted" (IR_bv0673)Blocking
Every Solvency UK rule on IR.02.01
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.