PRA Releases Hotfix for Insurance DPM and XBRL Taxonomy Version 1.0.0
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.”
Related Links
- 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
Featured Experts
Adam Koursaris
Asset and liability management expert; capable modeler; risk and capital specialist
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Pierre-Etienne Chabanel
Brings expertise in technology and software solutions around banking regulation, whether deployed on-premises or in the cloud.
Previous Article
PRA Proposes Amendments to the Branch Return Form and GuidanceRelated Articles
EC Adopts Financial Reporting Changes Arising from Benchmark Reforms
EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.
BIS Bulletin Examines Key Elements of Policy Response to Cyber Risk
BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.
HMT Updates List of Post-Brexit Equivalence Decisions in UK
HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.
EBA Issues Erratum for Technical Package on Reporting Framework 3.0
EBA published an erratum for technical package on phase 1 of the reporting framework 3.0.
APRA Publishes FAQ on Measurement of Credit Risk Weighted Assets
APRA updated a frequently asked question (FAQ), for authorized deposit-taking institutions, on the measurement of credit risk weighted assets.
EBA Publishes Risk Dashboard for Third Quarter of 2020
EBA published the quarterly risk dashboard, along with the results of the Risk Assessment Questionnaire survey among 60 banks and 15 market analysts.
ECB Analysis Shows Privacy as Biggest Concern in Use of Digital Euro
ECB concluded the public consultation on the introduction of a digital euro in EU.
ECB Finalizes Guide on Supervisory Approach to Bank Consolidation
ECB published a guide that sets out the supervisory approach to consolidation in the banking sector.
SRB Chair Outlines Work Priorities for 2021
The SRB Chair Elke König published an article setting out work priorities for 2021.
FDIC Selects Companies to Compete in Final Phase of Tech Sprint
FDIC has selected 11 technology companies—including BearingPoint, Fed Reporter, Inc, and S&P Global Market Intelligence, LLC—for inclusion in the third and final phase of the rapid prototyping competition.
