- Question ID
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2016_2670
- Legal act
- Regulation (EU) No 575/2013 (CRR)
- Topic
- Supervisory reporting - FINREP (incl. FB&NPE)
- Article
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99
- COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
- Regulation (EU) No 680/2014 - ITS on supervisory reporting of institutions (repealed)
- Article/Paragraph
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Annex V
- Name of institution / submitter
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Nationwide Building Society
- Country of incorporation / residence
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United Kingdom
- Type of submitter
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Credit institution
- Subject matter
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FINREP Group Structure Template 40.02
- Question
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For entities which are consolidated as part of the Group, but where we do not have any legal ownership over these entities, what should be included as the Holding Company on FINREP template 40.02?
- Background on the question
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Annex V. Part 2 Paragraph 123 states “Institutions shall provide detailed information on subsidiaries, joint ventures and associates as of the reporting date. All subsidiaries regardless the activity they perform shall be reported.” Nationwide Building Society has a number of entities which are included as part of the Group consolidation where Nationwide does not have legal ownership of these entities. For example, an entity which we have significant control over, but hold no equity investment in. Currently we include such entities on both FINREP template 40.01 and 40.02, showing nil equity interest (column 110 on 40.01), and “N/A” holding company (columns 030, 040 and 050 on 40.02).
- Submission date
- Final publishing date
-
- Final answer
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Paragraph 294, Part 2 of Annex V of Regulation (EU) No 680/2014 (ITS on Supervisory Reporting), states that institutions shall provide detailed information as of the reporting date on subsidiaries, joint ventures and associates fully or proportionally consolidated in the accounting scope of consolidation as well as entities reported as “Investments in subsidiaries, joint ventures and associates” which are not fully or proportionally consolidated under the regulatory scope of consolidation, including also those entities in which investments are held for sale under IFRS 5.
In the example above mentioned the entities are consolidated in accordance with the accounting rules but the reporting entity does not have the legal ownership.
In these cases:
- the entities shall be reported in template F 40.01, which provide information on a “entity-by-entity” basis. However column 110 shall report zero;
- no information shall be reported in template F 40.02.
- Status
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Final Q&A
- Answer prepared by
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Answer prepared by the EBA.
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