QA2018-116 - Guarantees T03.02

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Feb 01, 2024
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QA2018-116

Question


When a guarantor reports in its off-balance sheet a guarantee given, the lender/securities holder (beneficiary) reports in off-balance sheet a guarantee received. Regarding this, the example given for T03.02 is confusing as it shows that it is the guaranteed entity that must fulfill the "guarantee received" template. Moreover,the guidance example is in contradiction with the answer given to question 61 in the last Q&A. We need to clarify what is the role of the entity that should report "guarantee received" in T03.02. Is it the beneficiary reporting a guarantee received in its off-balance sheet (the lender) or is it the guaranteed entity (the borrower) ?


Response


The purpose of the report is to be able to understand all the exchanges in guarantees between groups. As such, the aim of the guarantees received (T03.02) is to report the guarantees for which the entity is the obligor in a relationship with its creditors, as beneficiaries.