SPPI LensApex IPS SPPI Lens: IFRS 9 SPPI screening, read from the offering document
Upload a bond’s prospectus or offering circular and SPPI Lens runs 65 tests on its contractual terms. Each verdict names the IFRS 9 paragraph it applies, and each finding quotes the clause that produced it.
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Runs open soon. The worked examples are free to read now.
The report
What each report contains
Every test names the rule it applies. Each finding quotes the clause that produced it and gives its location in the document.
- 65
tests on the contractual terms, each tied to a paragraph of IFRS 9.
- 8
category verdicts, from legal form and the time value of money to leverage, contingent events and currency.
- 3
possible verdicts on each test: pass, fail, or further enquiry where the document is silent or ambiguous on the point.
- SHA-256
fingerprint of the document, recorded with the engine and rulebook versions behind the result.
Worked examples
Nine instruments, assessed end to end
Each is a constructed instrument, built around a feature that decides the SPPI answer. Three pass and six fail. The verdicts, category tables and quoted evidence are free to read, and the full PDF reports come with a free account.
Senior fixed-rate bondPass65 passRead the worked example 
Inflation-linked bondPass65 passRead the worked example 
Foreign-currency bondPass65 passRead the worked example 
Sustainability-linked bondFail63 pass · 2 failRead the worked example 
Securitisation — senior RMBSFail60 pass · 5 failRead the worked example 
Securitisation — AAA CLOFail60 pass · 5 failRead the worked example - Contingent convertible (AT1)Fail52 pass · 1 further enquiry · 12 failRead the worked example
Leveraged structured noteFail60 pass · 5 failRead the worked example 
Catastrophe bondFail60 pass · 5 failRead the worked example
Keeping documents on your own network
Documents uploaded to SPPI Lens are held privately and retained so an assessment can be audited. If your offering documents must stay inside your own systems, talk to us about running SPPI Lens in your own environment: subscriptions@insuranceassetnews.com.
SPPI Lens is a screening aid. IFRS 9 classification remains the responsibility of the reporting entity and its auditors. Read the terms of use and the full notice.
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