BoE published public working draft of the standalone National Specific Templates (NSTs) and standard formula reporting for firms with an approved internal model (SF.01) taxonomy, along with the related technical artefacts, that will make up part of BoE’s insurance XBRL taxonomy. The public working draft follows the policy statement PS21/18, which addresses changes to the reporting format under Solvency II. Firms and software vendors are invited to provide feedback on the modeling, annotated templates, validations, and XBRL taxonomy by August 24, 2018.
The taxonomy, data point model (DPM) dictionary, annotated templates, and validation rules represent the reporting requirements set out in PS16/18 on changes in insurance reporting requirements and the supervisory statement SS15/16 titled "Solvency II: Monitoring model drift and standard formula SCR reporting for firms with an approved internal model." The DPM extends EIOPA’s Solvency II Version 126.96.36.199 dictionary. This public working draft should not be used for reporting. The public working draft for internal model outputs and market risk sensitivities will be released in early September and the final live release will consolidate all frameworks.
- Draft NST SF.01 XBRL Taxonomy Version 1.0.0 (ZIP)
- Draft NST SF.01 DPM Version 1.0.0 (ZIP)
- Draft NST SF.01 Validations Version 1.0.0 (XLSX)
Comment Due Date: August 24, 2018
Keywords: Europe, UK, Insurance, Solvency II, XBRL, Taxonomy 1.0.0, NST, DPM, Reporting, Validations, BoE
Previous ArticleEBA Publishes Detailed Work Program for 2019
MAS and Temasek jointly released a report to mark the successful conclusion of the fifth and final phase of Project Ubin, which focused on building a blockchain-based multi-currency payments network prototype.
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
APRA updated the lists of the Direct to APRA (D2A) validation rules for authorized deposit-taking institutions, insurers, and superannuation entities.
PRA updated the statement that provides guidance to regulated firms on implementation of the EBA guidelines on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis.
EBA updated the 2019 list of closely correlated currencies that was originally published in December 2013.
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.
BCBS and FSB published a report on supervisory issues associated with benchmark transition.
IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.
ESMA updated the reporting manual on the European Single Electronic Format (ESEF).