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Naic blanks (E) working group blanks Agenda Item Submission Form


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NAIC BLANKS (E) WORKING GROUP
Blanks Agenda Item Submission Form



DATE: 02/27/2015
CONTACT PERSON:
TELEPHONE:
EMAIL ADDRESS:
ON BEHALF OF:
NAME: Stewart Guerin
TITLE: Chief Financial Examiner, Analysis
AFFILIATION: Louisiana Department of Insurance
ADDRESS: 1702 N 3rd ST
Baton Rouge, LA 70802


FOR NAIC USE ONLY

Agenda Item # 2015-14BWG

Year 2015

Changes to Existing Reporting [ X ]

New Reporting Requirement [ ]



REVIEWED FOR ACCOUNTING PRACTICES AND PROCEDURES IMPACT

No Impact [ X ]

Modifies Required Disclosure [ ]



DISPOSITION
[ ] Rejected For Public Comment

[ ] Referred To Another NAIC Group

[ X ] Received For Public Comment

[ ] Adopted Date

[ ] Rejected Date

[ ] Deferred Date

[ ] Other (Specify)



BLANK(S) TO WHICH PROPOSAL APPLIES
[ X ] ANNUAL STATEMENT [ ] QUARTERLY STATEMENT

[ X ] INSTRUCTIONS [ ] CROSSCHECKS [ ] BLANK


[ X ] Life and Accident & Health [ X ] Property/Casualty [ X ] Health

[ ] Separate Accounts [ X ] Fraternal [ X ] Title

[ ] Other Specify
Anticipated Effective Date: Annual 2015


IDENTIFICATION OF ITEM(S) TO CHANGE
Modify the instructions for Column 1, CUSIP Identification and Column 2, Description. Add new electronic columns for Issuer, Issue, SEDOL code, ISIN Identification and Capital Structure Code.


REASON, JUSTIFICATION FOR AND/OR BENEFIT OF CHANGE**
Adding these additional security identifiers will allow the SVO to find more securities in the various data feeds that we receive. This will improve the ability to use that information for reporting purposes such as deriving a Capital Structure Code to report to regulators. It will also improve the Filing Exempt process by reducing the number of unfound securities in our Credit Rating Provider feeds (non-U.S. securities often do not have a CUSIP/PPN/CINS but still receive a rating) and lowering the number of Jump Start Report exceptions.


NAIC STAFF COMMENTS
Comment on Effective Reporting Date:
Other Comments:


** This section must be completed on all forms. Revised 6/13/2009

ANNUAL STATEMENT INSTRUCTIONS – LIFE, HEALTH, PROPERTY, FRATERNAL AND TITLE
SCHEDULE D – PART 1
LONG TERM BONDS OWNED DECEMBER 31 OF CURRENT YEAR



Detail Eliminated To Conserve Space

List all bonds and certificates of deposit owned December 31, of current year, except bonds and certificates of deposit in banks or other similar financial institutions with maturity dates or repurchase dates under repurchase agreements of one year or less from the acquisition date. Exclude cash equivalents as described in SSAP No. 2, Cash, Drafts, and Short-term Investments with original maturities of three months or less.


The security identifier reported (Column 1 for CUSIP, CINS, PPN; Column 33 for SEDOL or or Column 34 for ISIN) must be the same as the identifier used when filing securities with the NAIC pursuant to the Purposes and Procedures Manual of the NAIC Investments Analysis Office’s instructions.
Column 1 – CUSIP Identification
All CUSIP/PPN/CINS numbers entered in this column must conform to those as published by the Securities Valuation Office (SVO). CUSIP numbers for all purchased publicly issued securities are available from the broker’s confirmation or the certificate. and will be identical to those used by the SVO. For private placement securities, the NAIC has created a special number called a PPN to be assigned by the Standard and Poor’s CUSIP Bureau. For foreign securities, use a CINS that is assigned by the Standard and Poor’s CUSIP Bureau: www.cusip.com/cusip/index.htm.
If no valid CUSIP, CINS or PPN number exists, then report in the appropriate column either a valid SEDOL (Column 33) or ISIN (Column 34) security number. the The CUSIP field should be zero-filled.
Column 2 – Description
Give a complete and accurate description of all bonds owned as listed in the Valuation of Securities, including the location of all miscellaneous companies. As appropriate, the reporting entity is encouraged to use the same entry as for Column 32, Issue.
For Class One Bond Mutual Funds and Exchange Traded Funds, enter complete name of the fund. As appropriate, the reporting entity is encouraged to use the same entry as for Column 31, Issuer.
For Certificate of Deposit Account Registry Service (CDARs) or other similar services that have a maturity of greater than one year, individually list the various banking institutions that are financially responsible for honoring certificates of deposit. As appropriate, the name of the name of the banking institutions should follow from the registry of the Federal Financial Institutions Examination Council (FFEIC). (http://www.ffiec.gov/nicpubweb/nicweb/SearchForm.aspx)
For CDOs (Collateralized Debt Obligations) or CLOs (Collateralized Loan Obligations), indicate what the CDO/CLO collateral is, such as high-yield bonds, corporate loans, etc. If the collateral is of mixed type, indicate “Mix,” in addition to the largest type of collateral in the mix. If the collateral is derived synthetically, indicate “synthetic.”



Detail Eliminated To Conserve Space

** Columns 23 through 30 35 will be electronic only. **



Detail Eliminated To Conserve Space

Column 31 – Issuer


The reporting entity is encouraged to use the following sources:


  • Bloomberg

  • Interactive Data Corporation (IDC)

  • Thomson Reuters

  • S&P/CUSIP

  • Descriptions used in either the relevant SEC filing or legal documentation for the transaction.

Do not report ticker symbols, either internal or otherwise.


Column 32 – Issue
The reporting entity is encouraged to use the following sources:


  • Bloomberg

  • Interactive Data Corporation (IDC)

  • Thomson Reuters

  • S&P/CUSIP

  • Descriptions used in either the relevant SEC filing or legal documentation for the transaction.

Do not report ticker symbols, either internal or otherwise. Include tranche information.


Column 33 – SEDOL Code
A unique identification code, consisting of seven alphanumeric characters, that is assigned to all securities trading on the London Stock Exchange and on other smaller exchanges in the United Kingdom. SEDOL (Stock Exchange Daily Official List) is used for U.K. domestic and foreign stocks, unit trusts, investment trusts and insurance-linked securities. U.K. stocks that do not trade in the United States can be identified by their SEDOL code. Record the SEDOL number only if no valid CUSIP, CINS or PPN exists to report in Column 1. If both a SEDOL and ISIN exist, report only one – both are not required.
Column 34 – ISIN Identification
The International Securities Identification Numbering (ISIN) system is an international standard set up by the International Organization for Standardization (ISO). It is used for numbering specific securities, such as stock, bonds, options and futures. ISIN numbers are administered by a National Numbering Agency (NNA) in each of their respective countries, and they work just like serial numbers for those securities. Record the ISIN number only if no valid CUSIP, CINS or PPN exists to report in Column 1. If both a SEDOL and ISIN exist, report only one – both are not required.
Column 35 – Capital Structure Code
Please identify the capital structure of the security using the following codes consistent with the SVO Notching Guidelines in Part One, Section 3 of the Purposes and Procedures Manual of the NAIC Investments Analysis Office’s:
1. Senior Secured Debt

2. Senior Unsecured Debt

3. Senior Subordinated Debt

4. Junior Subordinated Debt

5. Other



© 2015 National Association of Insurance Commissioners




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