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QA2021-32 - Scope of reporting FMI

QA2021-32 - Scope of reporting FMI

Owned by SRB Services
Feb 01, 2024
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Resolution Reporting Subject Matter Guidance
Guidance Documents FMIs
Taxonomy -
Unique Identifier

QA2021-32

Question


FMI reporting should cover all direct and indirect participations to FMIs. In connection with the FMI template guidance, in terms of how this should be applied to subsidiaries there is some ambiguity. Our interpretation for the reporting of consolidated resolution group is as follows: The scope of the FMI reporting requirements in terms of entities are only those Group entities (part of the prudential / resolution group consolidation) that perform critical functions and/or core business lines. For these entities in scope all direct and indirect participations to FMIs should be reported, regardless of whether these FMIs perform essential FMI services.


Response


On p. 6, section 1.1, the Guidance states ":Reporting is mandated for Relevant Legal Entities (RLEs), as well as other entities, identified by IRTs as falling within the scope of this exercise. Please refer to the Guidance on the Liability Data Report for the definition of RLEs."