Featured Product

    PRA Releases Hotfix for Insurance DPM and XBRL Taxonomy Version 1.0.0

    April 08, 2019

    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

    Keywords: Europe, UK, Insurance, Solvency II, XBRL, Taxonomy 1.0.0, NST, DPM, Reporting, Hotfix, National Specific Templates, BoE, PRA

    Featured Experts
    Related Articles
    News

    BoE Provides Reporting Update on Form AS and Form FV

    BoE updated the known issues document for the statistical reporting Forms AS and FV.

    August 10, 2020 WebPage Regulatory News
    News

    EBA Provides Clarity on Implementation of Guidance on COVID Reporting

    EBA updated the report on the implementation of selected COVID-19 policies.

    August 07, 2020 WebPage Regulatory News
    News

    OSFI Provides Update on Implementation of IFRS 17 in Canada

    OSFI published a letter that provides an update on the milestones for the implementation of the IFRS 17 standard on insurance contracts.

    August 07, 2020 WebPage Regulatory News
    News

    FSI Note Discusses Challenges Associated with COVID Relief Measures

    The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.

    August 06, 2020 WebPage Regulatory News
    News

    BCBS Consults on Principles for Operational Risk and Resilience

    BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.

    August 06, 2020 WebPage Regulatory News
    News

    BoE Updates Template and Definitions for Form ER

    BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.

    August 05, 2020 WebPage Regulatory News
    News

    MAS Announces Key Initiatives to Support Adoption of SORA

    MAS announced several initiatives to support adoption of the Singapore Overnight Rate Average (SORA), which is administered by MAS.

    August 05, 2020 WebPage Regulatory News
    News

    HKMA Announces Repayment Deferment Under Payment Holiday Scheme

    HKMA, together with the Banking Sector Small and Medium-Size Enterprise (SME) Lending Coordination Mechanism, announced a ninety-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme.

    August 05, 2020 WebPage Regulatory News
    News

    ESRB Paper Presents Alternative Approach to EBA Stress Test Proposal

    The Advisory Scientific Committee of ESRB published a response, in the form of an Insights Paper, to the EBA proposals for reforms to the stress testing framework in EU.

    August 05, 2020 WebPage Regulatory News
    News

    FASB Simplifies Accounting for Certain Financial Instruments

    FASB issued a new Accounting Standards Update (2020-06) to improve financial reporting associated with accounting for convertible instruments and contracts in an entity’s own equity.

    August 05, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5642