PRA released a hotfix for the BoE insurance data point model (DPM) and XBRL taxonomy version 1.0.0, along with the technical artefacts to address inconsistencies identified in the technical implementation of reporting requirements. The hotfix release is to be used from December 31, 2018 reference date until a new version is published. PRA also published an updated Solvency II XBRL filing manual to update the sections that reference the BoE insurance XBRL filings. Additionally, PRA published a document to address inconsistencies in the National Specific Template NS.07 and assist firms in its submission for the year-end 2018.
The hotfix release package contains the following documents:
- Hotfix release notes for BoE Insurance DPM and XBRL taxonomy version 1.0.0
- BoE Insurance DPM and XBRL taxonomy—List of known issues
- BoE Insurance DPM version 1.0.0—Hotfix
- BoE Insurance XBRL taxonomy version 1.0.0—Hotfix
- BoE Insurance validations version 1.0.0—Updated to indicate deactivated rules that should be ignored for the purpose of filing preparation. It is to be noted that PRA may choose to reactivate the rules after correction or when they become applicable
National Specific Templates address the areas that stem from specific national requirements or specificities of local markets, which are otherwise not addressed in the set of Solvency II harmonized templates. Specifically, it has been identified that in the NS.07 template, for rows R0420, R0430, R0435, R1710, R1720, R1730, R1930, and R1945, there are some inconsistencies between the NS.07 LOG and the NS.07 template as well as inconsistencies between the reporting period and the plan years. When submitting NS.07, firms should read the NS.07 LOG file alongside the information provided in the document “Interpretation of the National Specific Template NS.07 LOG file for the year-end 2018 reporting only.”
- Hotfix for DPM and XBRL Taxonomy Version 1.0.0
- Solvency II XBRL Filing Manual (PDF)
- Update on National Specific Templates
- Interpretation of the NST NS.07 LOG File (PDF)
Keywords: Europe, UK, Insurance, Solvency II, XBRL, Taxonomy 1.0.0, NST, DPM, Reporting, Hotfix, National Specific Templates, BoE, PRA
Previous ArticleNCUA Launches Digital Tool to Help with Chartering Process
HKMA has published a circular that sets out the regulatory and reporting treatment for loans that participating authorized institutions may grant to eligible borrowers under the 100% Personal Loan Guarantee Scheme.
ECB published the results of the assessment of internal models that banks use to calculate risk-weighted assets for credit, market, and counterparty credit risks.
PRA published a statement on the regulatory treatment of retail residential mortgage loans under the Mortgage Guarantee Scheme, or MGS.
FCA is consulting, via CP21/7, on the second phase of proposed rules to introduce the UK Investment Firm Prudential Regime (IFPR).
HM Treasury and BoE announced the joint creation of a Central Bank Digital Currency (CBDC) Taskforce to coordinate the exploration of a potential central bank digital currency in UK.
EIOPA published an opinion to set out its expectations on the supervision of the integration of climate change risk scenarios by insurers in their Own Risk and Solvency Assessment (ORSA).
Bundesbank published two circulars on AnaCredit reporting requirements. Circular 27/2021 covers changes to the reporting of branches, additional attributes to be reported for investment funds from August 01, 2021, and updates to the list of international organizations.
EC published the Implementing Regulation 2021/622 that lays down implementing technical standards for reporting of the minimum requirement for own funds and eligible liabilities (MREL).
BCBS has set out the strategic work priorities, as part of its the work program for 2021-22.
PRA published the policy statement PS8/21, which contains the final supervisory statement SS3/21 on the PRA approach to supervision of the new and growing non-systemic banks in UK.