EIOPA announced that it will defer, until the end of December 2020, the delivery of its Solvency II Review advice to EC. This will allow time to perform a holistic impact assessment of the COVID-19 pandemic on the financial markets and insurance business, which EIOPA can take into account in its advice. To update the holistic impact assessment, EIOPA will complement the ongoing information request with a collection of data with a reference date of June 30, 2020. The new information request will be carried out from July to mid-September 2020. It will be addressed to a sub-sample of those subject to the ongoing information request.
Earlier, EIOPA had announced that to offer operational relief in reaction to disruption from the COVID-19 pandemic, the deadline of the information request for the holistic impact assessment of the 2020 Solvency II Review would be extended by two months, to June 01, 2020. EIOPA will continue to monitor the crisis and its impact and will engage with all stakeholders to ensure a transparent process.
Related Link: Press Release
Keywords: Europe, UK, Insurance, Solvency II Review, COVID-19, Solvency II, Deadline Extension, Advice, Data Collection, EIOPA
Leading economist; commercial real estate; performance forecasting, econometric infrastructure; data modeling; credit risk modeling; portfolio assessment; custom commercial real estate analysis; thought leader.
OSFI has set out the near-term priorities for federally regulated financial institutions and federally regulated private pension plans for the coming months until March 31, 2022.
Under the Italian G20 Presidency, BIS Innovation Hub and the Italian central bank BDI launched the second edition of the G20 TechSprint on the lookout for innovative solutions to resolve operational problems in green and sustainable finance.
EBA proposed the regulatory technical standards on a central database on anti-money laundering and countering the financing of terrorism (AML/CFT) in EU.
ECB published its response to the targeted EC consultation on the review of the bank crisis management and deposit insurance framework in EU.
ACPR published Version 1.0.0 of the RUBA taxonomy, which will come into force from the decree of January 31, 2022.
BCBS, CPMI, and IOSCO (the Committees) are inviting entities that participate in market infrastructures and securities markets through an intermediary as well as non-bank intermediaries to complete voluntary surveys on the use of margin calls.
ECB published Decision 2021/752 to amend Decision 2019/1311 on the third series of targeted longer-term refinancing operations or TLTRO III.
The Central Bank of Ireland published Version 2.7 of the draft credit data template and rules for monthly AnaCredit reporting by banks.
OSFI proposed revisions to the Basel Capital Adequacy Reporting (BCAR) and leverage requirements returns for the 2023 reporting, with the comment period ending on July 09, 2021.
EBA published a discussion paper on review of the standardized nonperforming loans (NPL) transaction data templates, along with the proposed revised NPL data templates.