Instrumentos de recogida de datos

BSI requirement FINREP “equivalent”

The following amount should be subtracted:

The difference between the carrying amount of the loans and •

their principal amount outstanding.

Notes: 1) When available, accrued interest on loans and assets in the form of deposits should be removed from this category and classifi ed on a “gross basis” under the category “remaining assets” in the BSI Regulation. However, in FINREP, accrued interest is recorded together with the underlying instrument.

2) “Loans and advances” include fi nancial assets that do not meet the defi nition of loans in the BSI Regulation (e.g. amounts receivable not related to the core business, dividends to be received and amounts receivable in respect of suspense and transit items). These fi nancial assets should be classifi ed under the category “remaining assets”. “Advances” are those “loans and advances” generally not included in the BSI defi nition of loans.

3) The defi nition of “cash” in IAS 7 “statement of cash fl ows” includes not only cash on hand (as in the BSI Regulation) but also demand deposits.

4) FINREP Table 5.C includes the amount of losses for credit risk for all “loans and advances” at fair value through profi t or loss. The amount related to “loans and advances” classifi ed as held for trading could be obtained (by differences) using the information available in this template and in Table 4.

5) Regarding items needed to reconcile the principal amount of loans and deposits with their carrying amount in IAS/IFRS, Regulation ECB/2008/32 establishes that “accrued interest” is included in “remaining assets” (“remaining liabilities”) and “impairment losses” in “capital and reserves”. The Regulation does not specify how the other items (fair value measurements, premiums/discounts in the acquisition or origination, etc.) should be classifi ed in the BSI scheme. For the purpose of its classifi cation system, the JEGR assumes that these balances are recorded under “capital and reserves”. The JEGR also recommends that the forthcoming update of the MFI Guidance Notes clarifi es this matter.

Securities other than shares

Holdings of securities other than shares or other equity (debt securities), which are negotiable and usually traded on secondary markets or can be offset in the market, and which do not grant the holder any ownership rights over the issuing institution. It particularly includes the following:

Holdings of securities which give the holder the unconditional •

right to a fi xed or contractually determined income in the form of coupon payments and/or a stated fi xed sum at a specifi ed date (or dates) or starting from a date defi ned at the time of issue;

Negotiable loans that have been restructured into a large •

number of identical documents and can be traded on secondary markets;

Subordinated debt in the form of debt securities; •

Debt securities lent out under securities lending operations •

should remain on the original owner’s balance sheet; Convertible bonds, as long as they have not been converted. •

Where separable from the underlying bond, the conversion option should be regarded as a separated fi nancial asset (derivative);

“Short selling” – the sale of a fi nancial asset not currently held •

on-balance sheet – should be recorded as a negative position in debt securities. This treatment is aimed to avoid duplications.

The following items of Table 1.1 should be added: “Financial assets held for trading – debt securities”; •

“Financial assets designated at fair value through profi t or loss – •

debt securities”;

“Available-for-sale fi nancial assets – debt securities”; •

Debt securities classifi ed as “loans and receivables – debt •

securities”, which can be traded in secondary markets (even only sporadically).

Notes: Currently, FINREP does not include guidelines to separate “loans and advances” from “debt securities”. IAS/IFRS does not solve this question as this distinction is not relevant for this accounting framework. If the BSI defi nitions of “debt securities” is adopted in FINREP (as proposed by JEGR), FINREP “loans and receivables – debt securities” would only include BSI “securities other than shares”.

“Held-to-maturity investments – debt securities”; •

Debt securities included in “non-current assets and disposal •

groups classifi ed as held for sale”.

The following items of Table 1.2 should be subtracted:

Debt securities included in “fi nancial liabilities held for •

trading – short positions”.

Table 10 includes a distinction (not included in Table 1.2) between “short positions – in equity instruments” and “short positions – in fi xed income instruments”.

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Table 2 Assets (cont’d)

BSI requirement FINREP “equivalent”

Notes: When an entity securitises a loan through a FVC but does not derecognise the loan for accounting purposes, a new liability in the form of a deposit is recognised for the consideration received. When the entity buys securities issued by the FVC, according to BSI rules, this entity has to recognise these securities as an asset; meanwhile in accordance with IAS 39, it should offset the liability to avoid the duplication of assets. Thus, the treatment in the BSI rules is different from the treatment applied in FINREP, where these securities are not recognised in the asset side but subtracted in the liability side previously recognised for the consideration received.

Money market fund shares/units

Holdings of shares/units issued by MMFs. MMFs are CIU whose shares/units are, in terms of liquidity, close substitutes for deposits and which primarily invest in money market instruments and/or in MMF shares/units and/or in other transferable debt instruments with a residual maturity of up to and including one year, and/or in bank deposits, and/or which pursue a rate of return that approaches the interest rates of money market instruments.

Parts of the following items of Table 1.1 should be added (only those parts issued by MMFs):

“Financial assets held for trading – equity instruments” issued •

by MMFs;

“Financial assets designated at fair value through profi t or loss – •

equity instruments” issued by MMFs;

“Available-for-sale fi nancial assets – equity instruments” issued •

by MMFs;

“Investments in associates, subsidiaries and joint ventures” •

issued by MMFs;

Equity instruments issued by MMFs included in “non-current •

assets and disposal groups classifi ed as held for sale”. The following items of Table 1.2 should be subtracted:

Equity instruments issued by MMFs included in “fi nancial •

liabilities held for trading – short positions”.

Table 10 includes a distinction (not included in Table 1.2) between “short positions – in equity instruments” and “short positions – in fi xed income instruments”.

Note: Those parts of “equity instruments” issued by MMFs are not separately available in FINREP.

Shares and other equity

Holdings of securities which represent property rights in corporations or quasi-corporations. These securities generally entitle the holders to a share in the profi ts of corporations or quasi- corporations and to a share in their own funds in the event of liquidation. Mutual fund shares (other than MMF shares/units) are included here. “Short selling” positions in shares and other equity should be subtracted.

Parts of the following items of Table 1.1 should be added (except parts regarding MMFs):

“Financial assets held for trading – equity instruments”, •

excluding shares/units issued by MMFs;

“Financial assets designated at fair value through profi t or loss – •

equity instruments”, excluding shares/units issued by MMFs; “Available-for-sale fi nancial assets – equity instruments”, •

excluding shares/units issued by MMFs;

“Investments in associates, subsidiaries and joint ventures”, •

excluding shares/units issued by MMFs;

Equity instruments included in “non-current assets and disposal •

groups classifi ed as held for sale”.

The following items of Table 1.2 should be subtracted:

Shares and other equity (excluding shares/units issued by •

MMFs) included in “fi nancial liabilities held for trading – short positions”.

Table 10 includes a distinction (not included in Table 1.2) between “short positions – in equity instruments” and “short positions – in fi xed income instruments”.

Table 2 Assets (cont’d)

BSI requirement FINREP “equivalent”

Fixed assets

It consists of non-fi nancial assets, tangible or intangible, which are intended to be used repeatedly for more than one year by reporting agents. They include land and buildings occupied by the MFIs, as well as equipment, software and other infrastructure.

The following items of Table 1.1 should be added: “Tangible assets”;

•

“Intangible assets”. •

Note: Tangible and intangible assets classifi ed under “non-current assets and disposal groups classifi ed as held for sale” should not be classifi ed as fi xed assets, but instead as remaining assets, due to its non-current nature (i.e. to be sold within one year).

Remaining assets

This item is regarded as the residual item on the asset side of the balance sheet, defi ned as “assets not included elsewhere”. It generally includes:

Financial derivative positions with gross positive market •

values;

Gross amounts receivable in respect of suspense and transit •

items;

Accrued interest receivable on loans and assets in the form of •

deposits;

Dividends to be received; •

Amounts receivable not related to the core business. •

Note: Contingent assets (contingencies), i.e. instruments which are contingent or conditional on the occurrence of uncertain future events, should not be recorded in the balance sheet, but instead off-balance sheet. They are for example guarantees, commitments, administered and trust loans.

The following items of Table 1.1 should be added:

“Financial assets held for trading – derivatives held for trading”; •

“Derivatives – hedge accounting”; •

Derivatives included in “non-current assets and disposal groups •

classifi ed as held for sale”. This amount is not separately available in FINREP;

“Tax assets”; •

“Other assets”. •

All non-fi nancial “non-current assets and disposal groups classifi ed as held for sale”, as they are intended to be sold within one year, as well as fi nancial assets included in “non-current assets and disposal groups classifi ed as held for sale” which are not classifi ed elsewhere (i.e. all except loans, deposit assets, debt securities and equity).

The following item of Table 6 should be added:

“Type of loans and advances – other”. This item includes •

advances that cannot be classifi ed as “loans” according to ECB/2008/32 (without regarding the IAS 39 portfolio in which they are classifi ed).

Note: Financial assets included under “loans and advances” that do not meet the defi nition of loans in the BSI Regulation (e.g. amounts receivable not related to the core business, dividends to be received and amounts receivable in respect of suspense and transit items) should be classifi ed under the category “remaining assets”.

Of which: fi nancial derivatives

Financial derivative instruments that have a market value should be subject to on-balance-sheet recording. They have a market value when they are traded on organised markets or in circumstances in which they can be regularly offset on non-organised over-the- counter markets. Derivatives should be recorded on a gross basis; therefore, derivative contracts with gross positive market values should be recorded on the asset side.

Note: Notional amounts should not be entered as on-balance-sheet items.

The following items of Table 1.1 should be added:

“Financial assets held for trading – derivatives held for •

trading”;

“Derivatives – hedge accounting”. •

Derivatives included in “non-current assets and disposal groups classifi ed as held for sale”. This amount is not separately available in FINREP.

Of which: accrued interest

Accrued interest on the category “loans”, i.e. interest that is receivable on the balance sheet reporting date, but which is not due to be received until a future date, is to be classifi ed on a gross basis under this category. Accrued interest is to be excluded from the loan to which it relates, which should be valued at the nominal amount outstanding on the reporting date.

In FINREP, accrued interest is recorded together with the underlying instrument.

A N N E X E S