Frequently asked questions MSR

For information about the content and submission of your reports see the Monthly securities reporting manual. Are you unable to find the answer to your question in the manual? Then check if the answer is in the FAQ. Still can't find the answer to your question? Please contact your report handler. We have sent you a letter with the report handler's contact details.

You can email any questions you have about the XBRL taxonomy to xbrl@dnb.nl. If you have any questions about the digital reporting portal, email dit-servicedesk@dnb.nl.

Yes. We prefer you to round off figures to the nearest euro, but you are permitted to round off figures to two decimal places. We do not accept reports with figures that are stated with more than two decimal places.

The taxonomy is occasionally adjusted. In the case of taxonomy updates, we email planned changes to all reporting entities at least four months in advance. This email provides an overview of all changes compared to the previous version.

If your report is not accepted, first look at the error messages in the validation report. The validation report will be automatically generated after you have uploaded a report. Each error message refers to one or more cells in the report, and also includes an explanation.

In the Monthly securities reporting manual(MSR) and in the document ‘MSR reporting via DLR (instructions)’ you can find an additional explanation about several of the most common error messages and the possible causes.

You can find an overview of all possible error messages in the Excel document ‘MSR v2.0.0 – Monthly Securities Reporting Annotated templates and assertions’. The ‘assertions’ tab describes which checks are carried out on a field.

Do you think that your reporting was wrongly rejected? Please contact your report handler. 

XBRL is an open standard for the compilation and electronic exchange of reports and data via the internet. Please refer to the XBRL international website for more information about XBRL. XBRL is based on XML.

Yes, that is possible. See point 2 above.

For each report you submit, you have to fill in the opening position. Otherwise, our system will not accept your report. This opening position must be equal to the closing position indicated in your previous report. Of course, this does not apply to the first MSR report you submit.

If you lend a security to a third party, for example as part of a repo, then it is regarded as the holding of the lending party as long as the costs and benefits of holding the piece accrue to the lending party. In other words, only the party that is the owner in economic terms should report the security.

The ‘shorting’ of a security is the subsequent borrowing and sale of a security. From the sale up until its redemption there are two parties to which the costs and benefits of the security accrue: the original lender and the party to which the security has been sold by the borrower. For that reason the party that uses the security for the ‘short’ should report a negative holding of the security.

You use the exchange rate at the end of the reporting month to convert final positions. To convert transactions, please use the exchange rate as on the transaction date.

Changes in the amount outstanding due to fluctuations in the exchange rate are calculated by multiplying the difference between the exchange rate at the end and start of the reporting month with the opening amount outstanding, net of any transactions.

This depends on whether this change in organisational structure occurs in the company whose securities you hold or in your own company as the issuer of securities. It also depends on the type of change (“corporate action”). Chapter 7 of the Monthly securities reporting (MSR) manual describes how you must report the most common corporate actions, for both holders and issuers of securities. If you are not sure about how you need to report in your situation, please contact your reporting handler.

In the case of a zero-coupon bond, the face value is often considered to equate to the redemption value, but this is not always the case. The face value is the reference value on which the price of the security is based. For zero coupon bonds, this reference value is often equated with the redemption value and the issue price of the bond is below the redemption value. Or, in the case of negative interest, higher. The redemption value is in that case therefore 100% of the reference value. However, it may also be the case that the redemption value exceeds the reference value. That means that the face value (which is equal to the reference value) and the redemption value are not the same. If you are asked to report the face value of a security, you must report the reference value stated in the prospectus of the security.

This depends on the ‘tradability’ of the instrument. If the instruments are traded on an exchange, they are ‘listed’. If not directly tradable, because approval from the issuer is required for example, the instruments are not considered to be ‘listed’ and therefore must not be reported.

A test report is available for each reporting entity in the digital reporting portal. Once you have submitted the initial test report, you can use the “re-report” functionality. This function allows you to re-submit an unlimited number of new reports.

Section 8.5 in the MSR manual outlines the new sector classification. Chapter 2 of the ESA 2010 handbook ESA 2010 handbook provides a more detailed description of the official statistical classification. If in doubt, please always follow the classification as described in the ESA 2010 handbook. The table below provides several examples of sectors with the old sector codes for the securities section for the purposes of direct reporting (referred to in Dutch as Directe Rapportage - DRA) and the sector codes in ESA 2010.

If your system does not contain information on clean prices, you will need to convert dirty prices to clean prices based on the bond’s characteristics. First, calculate the accrued interest , then deduct it from the "dirty” price. You need the bond's coupon rate, last coupon date and day count convention. This is the formula you use for the calculation:

Clean price = dirty price – accrued interest
Accrued interest = next coupon payment * (number of days since last coupon payment / day count base)

A special form is available for this purpose. This is T01.03 - Holdings in securities denominated in units but paying interest (ISIN).

If you do not know the coupon rate at the time of reporting, you must make an estimate of the accrued interest during the reporting period based on the previous coupon rate. For the first of such floating coupon periods (where no coupon rate has been previously estimated), you base your estimate of the next coupon rate on relevant market rates.

Any differences between the actual coupon payment and the estimated accrued interest must be reported in the column "Revaluation and other changes." This will ensure reconciliation of the opening and closing position of accrued interest. Another option is to correct reported accrued interest in previous periods after the coupon has been determined, using the ‘herrapportage’ (re-reporting) tool in the digital reporting portal.

The MSR report consists of a number of forms. Not all forms are relevant for every type of institution. That is why your report comprises a subset of forms. We call this subset an "entrypoint".

There are five entrypoints for the MSR:

• Msr-cust – forms applying to custodians
• Msr-hold – forms to report holdings (for firms that do not issue securities)  
• Msr-shsi – forms to report both holdings and issuances of securities
• Msr-sv — forms applicable to securitisation vehicles 
• Msr-all — all forms from the above entry points. This entrypoint is for information purposes only.

We sent you a letter or an email (or both) to tell you that your institution has been designated as the reporting institution for the MSR. The entrypoint that applies to your institution is also stated here. You can download the Excel template of the entrypoint on the MSR page(MSR Excel templates v2.0.0)  Please select the Excel file with the filename that corresponds to your institution’s entrypoint.

The position at the beginning of the month in your first MSR obligation should correspond to the true number/amount of securities outstanding or held on the first day of the reporting month. If you have (or had) a direct reporting (DRA) obligation in the month/quarter prior to the start of you MSR obligation, the starting position reported in the MSR should match the closing position in your DRA report for a particular security. If this is not the case, for example due to a previous reporting error, you should report the difference under "other changes".

That depends. It is not always possible to close the reported data (reconciliation). ‘Closing’ means that the closing position can be calculated on the basis of the reported initial position, transactions and other movements. Sometimes, the basis of the reported data (nominal value, market value or units) may vary from column to column. For example, for transactions the transaction value must be reported, while the opening and closing positions are often reported as face value or units.

When you don’t report any sales or purchases (in the case of holdings) or issuances or redemptions (issuance), the reconciliation of the reported amounts must be closing. For debt securities, the reconciliation of the accrued interest must be closing.

Go to Monthly securities reporting to look up the rules per form in terms of reconciliation by downloading the Excel document “Monthly securities reporting annotated templates and assertions”, selecting the ‘assertions’ tab and filtering in column H on the relevant form. All validation rules that are relevant to the form will be displayed, including rules concerning reconciliation.

https://www.dnb.nl/en/statistics/digital-reporting-portal/storingen-en-onderhoud/index.jsp

You can meet your reporting obligation in two ways:

1. By submitting an XBRL file.
2. By filling in and submitting the Excel template. We will then convert the Excel template to an XBRL file. You must meet several conditions to use an Excel template. If you are unable to do so, we will be unable to convert it. These conditions are as follows:
   1. You must not change the formatting of the forms. So you must not add new columns, or change column names, etc.
   2. In each form, the formatting of all reported rows must be the same as the formatting of row 8 (yellow and blue fields).

You use the Excel template as follows:

• Download the Excel template by selecting your reporting obligation in the digital reporting portal in the secure area of our website.
• Copy or drag the layout of the first row downwards, so all the rules you complete have the layout of the first row.
• Fill in each row by typing in the relevant values or pasting data from other sources. Make sure you maintain the correct layout when pasting. Otherwise, our tool that converts Excel templates to XBRL does not recognise the rows as data points.

No, subscription rights and warrants are considered options (derivatives), so you do not have to report them. If you purchase or issue these securities by executing these options then you must report the transaction value.

 To calculate this, use the price as defined in the “subscription right” or warrant as a basis. This is multiplied by the total face value of the securities.