Question
According to "Annex II: Instructions" for (EU) 2025/2303, the currency designation in, for example, c0120 of Template Z14.00 - Other Financial Liabilities (not included in other tabs, excluding intragroup) should follow ISO 4217. In the currency selection list of the Annotated Table Layout, there are no specifications for precious metals such as gold. Which value has to be chosen from the list of currencies in such cases ?
Background on the question
We have liabilities denominated in precious metals recorded in our books. In accordance with the former LDR guidance (provided by the SRB), we would like to continue reporting these using the corresponding currency code, as has been the practice to date. Should the Annotated Table Layout not be updated accordingly, we would appreciate clarification on which currency code should be selected.
Answer
To mirror the approach followed in SRB LDR guidance (QA2018-86): The annotated table layout should be updated to allow the reporting of precious metal, as they are treated by most financial firms as a currency and traded on their foreign currency systems. However, only four precious metals (gold, silver, platinum, palladium) are included in the ISO 4217 list. For other precious metals, the reporting entity should indicate the monetary transaction currency (e.g. EUR, USD) used by the institution to record the transaction. Only if no monetary currency is used to record the transaction, the reporting entity should use the specification (eba_CU:x46) 'Other currencies (open axis tables)'. The information on the carrying and outstanding amounts should be reported with values in the reporting currency required by art. 7(3)(b) of CIR (EU) 2025/2303.