18-10-2022 New version MESREP Manual

Due to some important changes and clarifications in the reporting instructions for pension funds and insurers, the MESREP Manual has been updated. In addition, more generic clarifications are also included. You can find this new version (2.1) here.

The main adjustments are:

• Amended rule for the reporting of pension funds' own funds in relation to transactions and price changes.
• Addition of the relationship between the T03 and T04 forms (for insurance corporations).
• Clarification of the term 'real estate for own use', i.e. that rent to third parties is not included.
• Clarification of the term 'trade credit', i.e. that in case of services it only concerns the fees for the services provided and that it is characteristic that it is non-interest-bearing.
• Clarification that equity in the form of unlisted shares includes the full value of the shares or equity, including any reserves and undivided result/profit (attributable to the shareholders). The same applies to ‘other equity’.
• Additional explanation of the accrued interest reporting.
• Additional explanation that the market value of interest rate derivatives includes any accrued interest ('dirty prices').
• Additional notes on rental income/costs, i.e. that these must be reported separately under the specific items for domestic real estate, but must be netted under 'Other capital income' for foreign real estate.
• Removal from the profit and loss account item 'Commission and revenues from other financial and commercial services' that this income must be the main activity of the institution.

The next update of the Manual will appear in December 2022, which will then incorporate the changes in the MESREP taxonomy (see previous News item).