Regarding FinRep table 14 (analysis of financial intruments at fair value) and related guidance in annex V part 2 para 86 - Do columns 40 & 50 [ Changes in fair value for the period: Level 2 & Level 3] : (a) relate only to transactions that continue to exist at the reporting date or (b) do they include movements for all transactions during the reporting period?
The IFRS reference given ( only re Level 3 (col 50)) indicates option (a) as it says “....the amount of the total gains or losses for the period in (e)(i) included in profit or loss that is attributable to the change in unrealised gains or losses relating to those assets and liabilities held at the end of the reporting period" Whereas the guidance notes (para 86) could be read to mean option (b): “These gains and losses are reported as for inclusion in the statement of P&L”.
Columns 040 and 050 [Changes in fair value for the period: Level 2 & Level 3] in F 14.00 template (Fair value hierarchy: financial instruments at fair value) relate only to instruments that continue to exist at the reporting date in accordance with IFRS 13.93 (f) included as legal reference for column 050 in F 14.00. Therefore, the proposed option (a) is the valid one.
Paragraph 86 in Part 2 of Annex V of the
ITS on Supervisory reporting ( "These gains and losses are reported as for inclusion in the statement of P&L") shall be amended to make this point clear.
*As of 1/8/2014 the content of this answer was modified to reflect the publication of the final ITS on supervisory reporting of institutions in the Official Journal of the European Union. As a result, the references to the ITS were updated and the disclaimer deleted. For reasons of transparency, revisions are highlighted in track changes.