The rule in plain words
Each Fund number reported in List of Assets (IR.06.02) should also be reported in Basic Information - RFF and matching adjustment portfolios (IR.01.03) for "1 - Ring-fenced fund" reported in the item "RFF/MAP/Remaining part of a fund"
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.
What to do if your return fails it
- 01Open the tables below and find the cells the rule reads.
- 02The check applies only when its first part holds in your return. When it does, the second part must hold too: fix the second part, or correct the first.
- 03It runs only when your filing indicators mark IR.01.03 and IR.06.02 as reported.
- 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
Basic information - RFF and matching adjustment portfolios: list of all RFF/MAP (overlaps allowed) (IR.01.03.01.01)
Columns
- C0050Name of ring-fenced fund, matching adjustment portfolio or remaining part
- C0060Ring-fenced fund, matching adjustment portfolio or remaining part
List of assets - information on positions held (IR.06.02.01.01)
Column
- C0170Total Solvency II amount
List of assets - information on assets (IR.06.02.01.02)
Column
- C0290CIC
Which returns it applies to
Line4 Check runs it on annual solo (ARS) return on Bank of England taxonomy 2.2.0. The Bank of England applies it to 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:
Each Fund number reported in IR.06.02 - List of Assets should also be reported in IR.01.03 - Basic Information - RFF and matching adjustment portfolios for "1 - Ring-fenced fund" reported in the item "RFF/MAP/Remaining part of a fund".
Show the formulaShowHide
The Bank of England's formula. Cells are written as {t: table, r: row, c: column}.
if ({t: IR.01.03.01.01, c: C0060} = $[s2c_PU:x96]) then not(isNull({t: IR.06.02.01.02, c: C0290, z: Z0001})) and not(isNull({t: IR.01.03.01.01, c: C0050})) and not(isNull({t: IR.06.02.01.01, c: C0170, z: Z0001})) else true()Other rules on Basic information - RFF and matching adjustment portfolios (IR.01.03)
- Basic information - RFF and matching adjustment portfolios and list of assets: a conditional check (IR_bv1775_02)
- There is at least one fund/matching portfolio reported in Table 2 of IR.01.03 that is not reported in Table 1 of IR.01.03 (IR_bv1728_01)Blocking
- There is at least one fund/matching portfolio reported in Table 2 of IR.01.03 that is not reported in Table 1 of IR.01.03 (IR_bv1728_02)Blocking
- Basic information - RFF and matching adjustment portfolios and list of assets: a conditional check (IR_bv0550_01)
- Basic information - RFF and matching adjustment portfolios and list of assets: a conditional check (IR_bv0550_02)
Every Solvency UK rule on IR.01.03
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.