Configure and create SIRA and PEF reports
The Bank of Finland collects monthly data from investment funds, which includes balance sheets, subscriptions and redemptions of fund shares. SIRA reports are used to provide this information for the Bank of Finland.
The Bank of Finland also collects data in a similar format about private equity funds (PEF report).
SIRA and PEF reporting is based on security, contact and portfolio level information.
Configuring the reporting
To configure SIRA and PEF reporting:
Go to Tools → Administer → SIRA and PEF reporting.
Fill in the fields:
- Management company’s VAT number
Used in the Batch record (000) of the report. It is also used in the report file name, if the data provider company's VAT is empty. The field is mandatory.
- Data provider company’s VAT number
Used in the report file name. The field is optional.
- Asset management fee account category
The category of the fund's asset management fee account. Liabilities with instrument code 74 are reported from accounts with this category.
- Report unofficial NAV
An option to include the unofficial NAV data in the report if no official accepted NAV is found for the day.
Portfolio level information
Add the reporter identifier in Portfolio window, SIRA/PEF tab.
Note
Make sure the reporter identifier is entered correctly and doesn’t have extra spaces at the beginning or at the end. Reporter identifier is used to match the fund securities (configured at a later stage) to the portfolio.
Accounts reporting
By default, the report includes accounts that:
Do not have the “Exclude balance from portfolio total“ setting enabled.
(For PEF reports) Have positive account balance.
Instrument classification codes
Accounts have the following instrument classification codes in reports:
Cash account | Non-cash account | |
Positive balance | 221 | 72 |
Negative balance | 4 (SIRA reports) or 4712 (PEF reports) | 76 |
You can override this logic and specify an instrument classification code for an account with the SIRA/PEF account tag. You can choose the code to use or exclude the account from reports.
If an account is reported as 4 or 225, you can link a security as the base instrument of the account to use the linked instrument’s issue and maturity dates when reporting the account in SIRA.
Collateral accounts
You can report a part of the portfolio's cash account balance as a collateral. The collateral account balance is reported in the IF record, field 17 (collateralRequirementForDerivatives in the XML) .
To record the collateral amount in FA Back, create collateral account or accounts:
Open the Portfolio window, Accounts tab.
Create a non-cash account with the "Collateral account" category.
Create a withdrawal or deposit transactions to add or remove collateral amount on the account.
If the total amount on the collateral accounts is negative, the reported amount is 0.
Fund holdings information
For the fund holdings, specify the security information. These settings are available only for Option, FX contract and Real estate type securities (security type codes O (Listed options), H (Non-listed and complex listed options), RE (Real estate) and FXCONTRACT (FX Contract)).
Open the Security window, SIRA/PEF tab.
Fill in the fields:
- Underlying asset type
Used to report SBS record field 47 (Underlying asset of derivative).
- Underlying asset identifier type
Used to report SBS record field 48 (Type of underlying asset’s identifier).
- Risk-weighted value in EUR
Used to report SBS record field 57 (Derivative’s risk-weighted value). This setting is only used if the classification code is 342 (i.e. if that code is used in the Instrument classification code field or security’s type is H or FXCONTRACT). If the field 57 is filled, field 58 (Currency of derivative's risk-weighted value) will get a fixed value of EUR.
- Derivative delta
Used to report SBS record field 59 (Derivative's delta).
- Instrument classification code
Used to override the default classification code (341 for security type O, 342 for security types H and FXCONTRACT) for the given security. For real estate investments, BoF requires usage of code 8.
- Override record type (only for SIRA)
Can be used to override the default record type (SBS) for the given security. This is used with real estate investments where the type ITEM needs to be used on SIRA reports.
Collateralized positions
SIRA reports have the possibility to report positions as collateralized (with code “C” in the field 7 of SBS records). In FA, positions can be marked as collateralized by setting the tag “SIRA-Collateral” for the security.
If a security is marked as collateral, its security and ISIN codes are modified to remove the suffix “-COLLATERAL” when the position is reported in the report. It’s not necessary to use that suffix on the collateralized securities; if there’s no “-COLLATERAL” suffix, the codes are not modified when reporting.
Note
For example: If half of position A is collateralized, you can create a new security with security code SecurityA-COLLATERAL and tag SIRA-Collateral, and change half of the position to use that security. Then, in SIRA report you will have two SBS records with similar information, one of them marked as collateralized.
Contact level information
Specify contact level information for fund's shareholders and counterparties:
Open the Contact window, SIRA/PEF tab.
Fill int he fields.
Contact ID type logic
If the ID type field is not filled in the SIRA/PEF tab, the counterparties' ID type is deduced from the format of the ID:
If the ID seems to be a LEI code, then the type is "L".
If the ID seems to be a Finnish business ID, the type is "Y".
Otherwise, the type is "O".
Generating the report
To generate the reports:
Select the funds in the Portfolios view and click Authority reporting → SIRA or Authority reporting → PEF.
Fill in the fields:
- Select date
The end date of the reporting period.
- Include payment information
An option to report the payment information in the IF record of the report. The payment information consists of fields 23, 24, and 25 of the report.
Field 23 (Dividend income and income from fund shares) reports transactions of type DIV in the fund portfolio during the previous year.
Field 24 (Interest income) reports transactions of type INT in the fund portfolio during the previous year.
Field 25 (Profit distribution) reports transactions of type PRO in the fund portfolio during the previous year.
- Reporting type
Field 5 (Data type) of the 000 record of the report.
- Data provider comments
Field 9 (Data provider's comment) of the 000 record of the report.
Click Continue to generate the report and download it to your computer.