The rule in plain words
The item "Issuer country" in List of assets (IR.06.02.01.02) should not be reported for assets with CIC '##71', '##75' or '##9#'
What to do if your return fails it
- 01Open the table 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.
- 03It runs only when your filing indicators mark IR.06.02 as reported.
- 04This is a blocking check. A return that fails it is normally rejected, so fix it before you submit.
The cells it reads
List of assets - information on assets (IR.06.02.01.02)
Columns
- C0270Issuer Country
- C0290CIC
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 blocking check.
The Bank’s own words and formula
In the Bank of England’s list of validations, word for word:
The item "Issuer country" in IR.06.02.01.02 - List of assets should not be reported for assets with CIC '##71', '##75' or '##9#'.
Show the formulaShowHide
The Bank of England's formula. Cells are written as {t: table, r: row, c: column}.
if matches({t: IR.06.02.01.02, c: C0290, z: Z0001}, "^..((71)|(75)|(9.))$") then isNull({t: IR.06.02.01.02, c: C0270, z: Z0001}) else true()Other rules on List of assets (IR.06.02)
- List of assets and collective investment undertakings - look-through approach: the format of a code or text (IR_bv0903_01)Blocking
- List of assets and collective investment undertakings - look-through approach: the format of a code or text (IR_bv0903_02)Blocking
- List of assets and collective investment undertakings - look-through approach: a conditional check (IR_bv0902_01)Blocking
- List of assets and collective investment undertakings - look-through approach: a conditional check (IR_bv0902_03)Blocking
- There should be no nominated ECAI appointed in case "no rating available" was reported for "Credit quality step" (IR_bv0872_01)Blocking
- There should be no nominated ECAI appointed in case "no rating available" was reported for "Credit quality step" (IR_bv0872_02)Blocking
- The "External rating" should not be provided whether no ECAI has been nominated and a simplification is being used to calculate the SCR (IR_bv0870_01)
- The "External rating" should not be provided whether no ECAI has been nominated and a simplification is being used to calculate the SCR (IR_bv0870_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.