ANNEX VI
Definitions of the CIC Table
▼M1
First 2 positions — Assets listed in | Definition
Country | ISO 3166-1-alpha-2 country code | Identify the ISO 3166-1-alpha-2 country code where the asset is listed in. An asset is considered as being listed if it is negotiated on a regulated market or on a multilateral trading facility, as defined by Directive 2004/39/EC.2014/65/EU. If the asset is listed in more than one country or the undertaking uses for valuation purposes a price provider which is one of the regulated markets or multilateral trading facility where the asset is listed in, the country shall be the one of that regulated market or multilateral trading faciltyfacility used as the reference for valuation purposes.
XV | Assets listed in one or more than one country | Identify assets that are listed in one or more countries but when the undertaking uses for valuation purposes a price provider which is not one of the regulated markets or multilateral trading facility where the asset is listed in.
XL | Assets that are not listed in a stock exchange | Identify assets that are not negotiated on a regulated market or on a multilateral trading facility, as defined by Directive 2004/39/EC.2014/65/EU.
XT | Assets that are not exchange tradable | Identify assets that by their nature are not subject to negotiation on a regulated market or on a multilateral trading facility, as defined by Directive 2004/39/CE.2014/65/EU.
▼B
Third and fourth position — Category | Definition
1 | Government bonds | Bonds issued by public authorities, whether by central governments supra-national government institutions, regional governments or local authorities local authorities and bonds that are fully, unconditionally and irrevocably guaranteed by the European Central Bank, Member States' central government and central banks denominated and funded in the domestic currency of that central government and the central bank, multilateral development banks referred to in paragraph 2 of Article 117 of Regulation (EU) No 575/2013 or international organisations referred to in Article 118 of Regulation (EU) No 575/2013, where the guarantee meets the requirements set out in Article 215 of Delegated Regulation 2015/35. Regarding bonds with a qualifying guarantee, the third and fourth position shall be attributed by reference to the entity providing the guarantee.
11 | Central Government bonds | Bonds issued by central governments
12 | Supra-national bonds | Bonds issued by public institutions established by a commitment between national states, e.g. issued by a multilateral development bank as listed in Annex VI, Part 1, Number 4 of the Capital Requirements Directive (2013/36/EU) or issued by an international organisation listed in Annex VI, Part 1, Number 5 of the Capital Requirements Directive (2013/36/EU)
13 | Regional government bonds | Regional government or autonomous communities debt instruments offered to the public in a public offering on the capital market
14 | Local authorities bonds | Bonds issued by local authorities, including cities, provinces, districts and other municipal authorities
15 | Treasury bonds | Short term government bonds, issued by central governments (issued with a maturity term up to 1 year)
16 | Covered bonds | Government bonds which have a pool of assets that secures or ‘covers’ the bond. Those assets remain on the issuer balance sheet.
17 | National Central banks | Bonds issued by national central banks
19 | Other | Other government bonds, not classified under the above categories
2 | Corporate bonds | Bonds issued by corporations
21 | Corporate bonds | Bonds issued by corporations, with simple characteristics, usually covering the ones referred to as ‘plain vanilla’, and that don't have any special feature described in the categories 22 to 28
22 | Convertible bonds | Corporate bonds that the holder can convert into shares of common stock in the issuing company or cash of equal value, having debt and equity-like features
23 | Commercial paper | Unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories and meeting short-term liabilities, usualy with original maturity lesser than 270 days.
24 | Money market instruments | Very short term debt securities (usualy with maturities ranging form 1 day up to 1 year), consisting mainly of negotiable certificates of deposit (CDs), bankers acceptances, repurchase agreements (repos) and other highly liquid instruments. Commercial Paper is excluded from this category
25 | Hybrid bonds | Corporate bonds that have debt and equity-like features, but are not convertible.
26 | Common covered bonds | Corporate bonds which have a pool of assets that secures or ‘covers’ the bond. Those assets remain on the issuer balance sheet. Covered bonds subject to specific law are excluded from this category
27 | Covered bonds subject to specific law | Corporate bonds which have a pool of assets that secures or ‘covers’ the bond if the originator becomes insolvent and are subject by law to special public supervision designed to protect bond-holders, as definid in Article 22(4) of Directive 2009/65/CE. An example of this category is Pfandbrief: ‘Covered bonds which are issued on the basis of the Pfandbrief Act. They are used to refinance loans for which collateral is furnished in the form of loans secured by real estate liens (Mortgage Pfandbriefe), public-sector loans (Public Pfandbriefe), ship mortgages (Ship Pfandbriefe) or aircraft mortgages (Aircraft Pfandbriefe). Thus, the distinction made between these Pfandbrief types refers to the cover pool created for each type of Pfandbrief.’
28 | Subordinated bonds | Corporate bonds which have a lower priority than other bonds of the issuer in case of liquidation.
29 | Other | Other corporate bonds, with other characteristics than the ones identified in the above categories
3 | Equity | Shares and other securities equivalent to shares representing corporations' capital, i.e., representing ownership in a corporation
31 | Common equity | Equity that represents basic property rights on corporations
32 | Equity of real estate related corporation | Equity representing capital from real estate related corporations
33 | Equity rights | Rights to subscribe to additional shares of equity at a set price
34 | Preferred equity | Equity security that is senior to common equity, having a higher claim on the assets and earnings than common equity, but is subordinate to bonds
39 | Other | Other equity, not classified under the above categories
4 | Collective Investment Undertakings | Collective investment undertaking' means an undertaking for collective investment in transferable securities (UCITS) as defined in Article 1(2) of Directive 2009/65/EC of the European Parliament and of the Council or an alternative investment fund (AIF) as defined in Article 4(1)(a) of Directive 2011/61/EU of the European Parliament and of the Council.
41 | Equity funds | Collective investment undertakings mainly invested in equity
42 | Debt funds | Collective investment undertakings mainly invested in bonds
43 | Money market funds | Collective investment undertakings under the definition provided by ESMA (CESR/10-049)
44 | Asset allocation funds | Collective investment undertakings which invests its assets pursuing a specific asset allocation objective, e.g. primarily investing in the securities of companies in countries with nascent stock markets or small economies, specific sectors or group of sectors, specific countries or other specific investment objective
45 | Real estate funds | Collective investment undertakings mainly invested in real estate
46 | Alternative funds | Collective investment undertakings whose investment strategies include such as hedging, event driven, fixed income directional and relative value, managed futures, commodities etc.
47 | Private equity funds | Collective investment undertakings used for making investments in equity securities following strategies associated with private equity.
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48 | Infrastructure funds | Collective investment undertakings that invest in utilitiesInfrastructure suchassets as tolldefined roads,in bridges,point tunnels,55a portsor and55b airports,of oilArticle and1 gasof distribution,Delegated electricityRegulation distribution(EU) and social infrastructure such as healthcare and educational facilities2015/35
▼B
49 | Other | Other Collective investment undertakings, not classified under the above categories
5 | Structured notes | Hybrid securities, combining a fixed income (return in the form of fixed payments) instrument with a series of derivative components. Excluded from this category are fixed income securities that are issued by sovereign governments. Concerns securities that have embedded one or a combination of categories of derivatives, including Credit Default Swaps (CDS), Constant Maturity Swaps (CMS), Credit Default Options (CDOp). Assets under this category are not subject to unbundling
51 | Equity risk | Structured notes mainly exposed to equity risk
52 | Interest rate risk | Structured notes mainly exposed to interest rate risk
53 | Currency risk | Structured notes mainly exposed to currency risk
54 | Credit risk | Structured notes mainly exposed to credit risk
55 | Real estate risk | Structured notes mainly exposed to real estate risk
56 | Commodity risk | Structured notes mainly exposed to commodity risk
57 | Catastrophe and Weather risk | Structured notes mainly exposed to catastrophe or weather risk
58 | Mortality risk | Structured notes mainly exposed to mortality risk
59 | Other | Other structured notes, not classified under the above categories
6 | Collateralised securities | Securities whose value and payments are derived from a portfolio of underlying assets. Includes Asset Backed Securities (ABS), Mortgage Backed securities (MBS), Commercial Mortgage Backed securities (CMBS), Collateralised Debt Obligations (CDO), Collateralised Loan Obligations (CLO), Collateralised Mortgage Obligations (CMO). Assets under this category are not subject to unbundling
61 | Equity risk | Collateralised securities mainly exposed to equity risk
62 | Interest rate risk | Collateralised securities mainly exposed to interest rate risk
63 | Currency risk | Collateralised securities mainly exposed to currency risk
64 | Credit risk | Collateralised securities mainly exposed to credit risk
65 | Real estate risk | Collateralised securities mainly exposed to real estate risk
66 | Commodity risk | Collateralised securities mainly exposed to commodity risk
67 | Catastrophe and Weather risk | Collateralised securities mainly exposed to catastrophe or weather risk
68 | Mortality risk | Collateralised securities mainly exposed to mortality risk
69 | Other | Other collateralised securities, not classified under the above categories
7 | Cash and deposits | Money in the physical form, cash equivalent, bank deposits and other money deposits
71 | Cash | Notes and coins in circulation that are commonly used to make payments
72 | Transferable deposits (cash equivalents) | Deposits exchangeable for currency on demand at par and which are directly usable for making payments by cheque, draft, giro order, direct debit/credit, or other direct payment facility, without penalty or restriction
73 | Other deposits short term (less than or equal to one year) | Deposits other than transferable deposits, with remaining maturity inferior or equal to 1 year, that cannot be used to make payments at any time and that are not exchangeable for currency or transferable deposits without any kind of significant restriction or penalty
74 | Other deposits with term longer than one year | Deposits other than transferable deposits, with remaining maturity superior to 1 year, that cannot be used to make payments at any time and that are not exchangeable for currency or transferable deposits without any kind of significant restriction or penalty
75 | Deposits to cedants | Deposits relating to reinsurance accepted
79 | Other | Other cash and deposits, not classified under the above categories
8 | Mortgages and loans | Financial assets created when creditors lend funds to debtors, with collateral or not, including cash pools.
81 | Uncollateralized loans made | Loans made without collateral
82 | Loans made collateralized with securities | Loans made with collateral in the form of financial securities
84 | Mortgages | Loans made with collateral in the form of real estate
85 | Other collateralized loans made | Loans made with collateral in any other form
86 | Loans on policies | Loans made with insurance policies as collateral
89 | Other | Other mortgages and loans, not classified under the above categories
9 | Property | Buildings, land, other constructions that are immovable and equipment
91 | Property (office and commercial) | Office and commercial building used for investment
92 | Property (residential) | Residential buildings used for investment
93 | Property (for own use) | Real estate for the own use of the undertaking
94 | Property (under construction for investment) | Real estate that is under construction, for future usage as investment
95 | Plant and equipment (for own use) | Plant and equipment for the own use of the undertaking
96 | Property (under construction for own use) | Real estate that is under construction, for future own usage
99 | Other | Other real estate, not classified under the above categories
0 | Other investments | Other assets reported in ‘Other investments’
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09 | Other investments | Other assets reported in ‘Other investments’
▼B
A | Futures | Standardised contract between two parties to buy or sell a specified asset of standardised quantity and quality at a specified future date at a price agreed today
A1 | Equity and index futures | Futures with equity or stock exchange indices as underlying
A2 | Interest rate futures | Futures with bonds or other interest rate dependent security as underlying
A3 | Currency futures | Futures with currencies or other currencies dependent security as underlying
A5 | Commodity futures | Futures with commodities or other commodities dependent security as underlying
A7 | Catastrophe and Weather risk | Futures mainly exposed to catastrophe or weather risk
A8 | Mortality risk | Futures mainly exposed to mortality risk
A9 | Other | Other futures, not classified under the above categories
B | Call Options | Contract between two parties concerning the buying of an asset at a reference price during a specified time frame, where the buyer of the call option gains the right, but not the obligation, to buy the underlying asset
B1 | Equity and index options | Call options with equity or stock exchange indices as underlying
B2 | Bond options | Call options with bonds or other interest rate dependent security as underlying
B3 | Currency options | Call options with currencies or other currencies dependent security as underlying
B4 | Warrants | Call options that entitles the holder to buy stock of the issuing company at a specified price
B5 | Commodity options | Call options with commodities or other commodities dependent security as underlying
B6 | Swaptions | Call options granting its owner the right but not the obligation to enter into a long position in an underlying swap, i.e., enter into a swap where the owner pays the fixed leg and receive the floating leg
B7 | Catastrophe and Weather risk | Call options mainly exposed to catastrophe or weather risk
B8 | Mortality risk | Call options mainly exposed to mortality risk
B9 | Other | Other call options, not classified under the above categories
C | Put Options | Contract between two parties concerning the selling of an asset at a reference price during a specified time frame, where the buyer of the put option gains the right, but not the obligation, to sell the underlying asset
C1 | Equity and index options | Put options with equity or stock exchange indices as underlying
C2 | Bond options | Put options with bonds or other interest rate dependent security as underlying
C3 | Currency options | Put options with currencies or other currencies dependent security as underlying
C4 | Warrants | Put options that entitles the holder to sell stock of the issuing company at a specified price
C5 | Commodity options | Put options with commodities or other commodities dependent security as underlying
C6 | Swaptions | Put options granting its owner the right but not the obligation to enter into a short position in an underlying swap, i.e., enter into a swap in which the owner will receive the fixed leg, and pay the floating leg
C7 | Catastrophe and Weather risk | Put options mainly exposed to catastrophe or weather risk
C8 | Mortality risk | Put options mainly exposed to mortality risk
C9 | Other | Other put options, not classified under the above categories
D | Swaps | Contract in which counterparties exchange certain benefits of one party's financial instrument for those of the other party's financial instrument, and the benefits in question depend on the type of financial instruments involved
D1 | Interest rate swaps | Swap that exchange interest flows
D2 | Currency swaps | Swap that exchange currency
D3 | Interest rate and currency swaps | Swap that exchange interest and currency flows
D4 | Total return swap | A swap in which the non-floating rate side is based on the total return of an equity or fixed income instrument with the life longer that the swap
D5 | Security swaps | Swap that exchange securities
D7 | Catastrophe and Weather risk | Swaps mainly exposed to catastrophe or weather risk
D8 | Mortality risk | Swaps mainly exposed to mortality risk
D9 | Other | Other swaps, not classified under the above categories
E | Forwards | Non-standardised contract between two parties to buy or sell an asset at a specified future time at a price agreed today
E1 | Forward interest rate agreement | Forward contract in which typicaly one party pays a fixed interest rate, and receives a variable interest rate usualy based on an underlying index rate, at the predefined forward date
E2 | Forward exchange rate agreement | Forward contract in which one party pays an amount in one currency, and receives an equivalent amount in a different currency resulting from the conversion using the contractual exchange rate, at the predefined forward date
E7 | Catastrophe and Weather risk | Forwards mainly exposed to catastrophe or weather risk
E8 | Mortality risk | Forwards mainly exposed to mortality risk
E9 | Other | Other forwards, not classified under the above categories
F | Credit derivatives | Derivative whose value is derived from the credit risk on an underlying bond, loan or any other financial asset
F1 | Credit default swap | Credit derivative transaction in which two parties enter into an agreement whereby one party pays the other a fixed periodic coupon for the specified life on the agreement and the other party makes no payments unless a credit event relating to a predetermined reference asset occurs
F2 | Credit spread option | Credit derivative that will generate cash flows if a given credit spread between two specific assets or benchmarks changes from its current level
F3 | Credit spread swap | A swap in which one party makes a fixed payment to the other on the swap's settlement date and the second party pays the first an amount based on the actual credit spread
F4 | Total return swap | A swap in which the non-floating rate side is based on the total return of an equity or fixed income instrument with the life longer that the swap
F9 | Other | Other credit derivatives, not classified under the above categories