QA2020-147 - T03.03

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Feb 01, 2024
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QA2020-147

Question


We have a case when a bank provides a guarantee to an external counterparty to cover the risk of an internal entity. In the accounting book the guarantee is given to the third part. Should we declare this guarantee provided in T03.03 as given to the internal entity ?


Response


The SRB agrees that in the event of a guarantee provided by a parent entity on behalf of another entity within the Group to a third party, the transaction should not be reported in T03. These reports (T03.01, T03.02, T03.03) should only be used for transactions where the counterparty (e.g. beneficiary of the guarantee, or guaranteeing entity) is part of the Group, in line with the LDR Guidance on these reports.