Entity Responsible for the Report

Field 4.05 | Matching Date: n/a | Tolerance: n/a>

Status: Best Practice Finalised, Last Updated: 26/04/2021

Field 4.05 | Matching Date: n/a | Tolerance: n/a

Description:
Where a financial counterparty is responsible for reporting on behalf of the other counterparty in accordance with Article 4(3) of Regulation (EU) No 2365/2015, the unique code identifying that financial counterparty.
Where a management company is responsible for reporting on behalf of an Undertaking for Collective Investment
in Transferable Securities (UCITS) in accordance with Article 4(3) of Regulation (EU) No 2365/2015, the unique code identifying that management company.
Where an Alternative Investment Fund Manager (AIFM) is responsible for reporting on behalf of an Alternative
Investment Fund (AIF) in accordance with Article 4(3) of Regulation (EU) No 2365/2015, the unique code identifying that AIFM.

Best Practice:
This field shall contain a valid LEI recognised by GLEIF. The LEI shall pertain to a legal entity and not a branch. The status of the LEI for all message templates can be either:

• Issued

• Pending Transfer

• Pending Archival

In all scenarios except two, including delegated reporting and agency or principal business models, the Entity Responsible for the Report (4.05) will always be equal to the Reporting Counterparty (4.04).

The two exceptions to this statement are under an Agency model where:
i. A management company is responsible for reporting on behalf of an UCITS fund in accordance with Article 4(3) of Regulation (EU) No 2365/2015 (Level I Text), the unique code identifying that management company, and:

ii. An AIFM is responsible for reporting on behalf of AIF in accordance with Article 4(3) of Regulation (EU) No 2365/2015 (Level I Text), the unique code identifying that AIFM.

For guidance on Entity Responsible for the Report please see the following guidelines paragraphs.

Guidelines Reporting under Articles 4 and 12 SFTR 06 January 2020 - ESMA70-151-2838
:
400: When no actual reuse has taken place, the reporting field should be left blank. When collateral is no longer reused, it shall be reported as “reuse Update” (REUU) with “0”.

401: If reporting has been delegated, the counterparty to which reporting has been delegated is not responsible for the reporting of the estimated reuse of the collateral. NFCs are responsible for calculating the estimated reuse themselves and provide the estimate to the counterparty in charge of reporting in a timely manner.

402: If counterparties prefer to report the actual reuse instead of the estimated reuse, they can do so.

414: In this case, counterparty C is SME-NFC, and it has concluded SFTs with two entities - counterparty B and counterparty D. Counterparty B reports the value of reused securities with ISIN IT00BH4HKS39 of the amount of 10,000,000 EUR in Table 104. Counterparty D reports the value of reused securities with ISIN FR00BH4HKS3 of the amount of 2,000,000 EUR in Table 105.

407: Any security received or posted as part of transactions that are outside of the SFTR scope, including SFTs that are executed with ESCB counterparties, should be excluded from the reuse formula. (SFTR-124)