Questions and answers
1. Are households to be included in the reporting?
Transactions with households are not be reported.
2. Which of our legal entities are to report?
The transactions which are to be reported are the transactions denominated in SEK of the legal entity that is the monetary policy counterparty, including branches in the EU/EEA.
3. Are transactions with the Riksbank to be reported?
Transactions with the Riksbank do not have to be reported, but can be reported. This is subject to change in the future.
4. When will testing start?
The test period is scheduled to be in September 2019. However, we will try to allow testing before that.
5. Do transactions below 10 million SEK have to be reported?
Transactions below 10 million SEK do not have to be reported, but can be reported. This is subject to change in the future.
6. The Riksbank asks for transactions with a maximum maturity of 10 calendar days. Is it allowed to report transactions with a maximum maturity of longer than 10 calendar days?
Generally it is allowed, however we cannot guarantee that you will not get warnings from the system when you report transactions with a longer maturity than 10 days. Depending of the number of transactions you send per segment, you might need to split up the segment in multiple files. Contact us at firstname.lastname@example.org for more information.
7. Do we have to report both turnover in the money and bond markets, and transactions in the money market?
The reporting requirement follows from section B.3.2.3 (b) in the Terms and Conditions for RIX and Monetary Policy Instruments. Included in B.3.2.3 (b) is included requirements to report both turnover in the money and bond markets, and transactions in the money market. For the time being, the Riksbank will waive the first reporting requirement (turnover in the money and bond markets) for institutions that prior to 1 April 2019 did not have that requirement, based on the Riksbank’s assessment that other institutions currently is of minor significance as actor on the combined market. The second requirement (transactions in the money market) will apply to all Monetary Policy Counterparties.
8. We are a minor actor in the money market, do we have to report daily?
For institutions with less significance as actors in the money market, the Riksbank will temporarily accept that these reporters initially report only aggregated volumes yearly. However, following a prolonged transition period all reporters should expect to report daily. Institutions that on 1 April 2019 were contributors to the STIBOR rate setting panel, i.e. STIBOR banks, are not regarded to have less significance, and are therefore expected to report daily from October 2019. Other reporters with non-insignificant trading in the relevant money market segments are also expected to report daily from October 2019. For other institutions that are of less significance the prolonged transition period is expected to end by the end of 2020. The Riksbank will retain the right to determine if any reporter should report with a less frequent periodicity than daily in exceptional circumstances in the future as well.
9. Will you allow for soft onboarding for participants that are expected to report daily in October 2019?
If you believe that you need to onboard the reporting at a later date in order to report, please contact us at email@example.com . We would ask of you to be prepared to report historical transactions from October 1st 2019 at a later date in that case.
10. What does the yearly reporting consist of?
The yearly reporting consists of reporting aggregate volumes and number of transactions in the segments that are to be reported in the daily reporting. The yearly reporting will be done in the beginning of the year and consist of the transactions done in the previous calendar year. Additional details will be published in the autumn.