New version of Solvency II Tripartite Template (TPT V6.0)
FinDatEx (Financial Data Exchange Templates) published on 10 January 2022 version 6.0 of the Solvency II tripartite template (TPT).
The Solvency II tripartite template is an EU-wide standardized data exchange format to facilitate the delivery of the portfolio composition of funds between asset managers and insurers. It provides invested insurers that are subject to the Solvency II regulation with information on fund and on single holding level with information that is needed to apply a fund look-through approach for their reporting and disclosure requirements.
New version 6.0 of the TPT
Compared with V5.0, this new version includes several but minor changes and should have a limited impact on the production process.
However two fields have been added in order to facilitate the solvency capital (SCR) calculation for insurance companies:
- Field 138_Collateral Eligibility: It indicates whether a bond has collateral, eligible under Article 176.5. The information is given by a numerical code between 0 and 4 which differs between the legislative requirements that a collateral meets but also provides the option that no or no eligible collateral is available.
- Field 139_Collateral Market Valuation in portfolio currency: It provides simply the market value of the collateral in portfolio currency. The value shall only be provided if field 138 indicates an eligible collateral, otherwise it can be left empty.
The information on collateral is optional. It helps to reduce SCR values, but it will not harm the capital requirements comparing to TPT V5.0, if it is not given.
A few minor corrections have been implemented for existing datapoints.
Furthermore the FinDatEx Solvency II technical working group issued additional guidelines to refine the description of some datapoints helping users modelling FX forwards, FX options, FX future transactions, Interest Rate Swaps, and Credit Derivatives Swaps consistently.
Implementation timeline of TPT V6.0
- V6.0 can be used with the effective start date of 31 March 2022.
- For an interim phase, in Q2 2022, V5.0 and V6.0 can be used in parallel.
- V6.0 will enter into force as of 30 June 2022 and it is recommended to only use V6.0 from this date.
How can IDS help?
IDS can assist you with your Solvency II reporting challenges. Our experts are implementing the required changes to generate both TPT V5.0 and V6.0 starting on 31 March 2022 and TPT V6.0 as of 30 June 2022.
