Featured Product

    IAIS Publishes Report on Process for the 2018 G-SII Identification

    December 14, 2018

    IAIS published its report on process for the 2018 global systemically important insurer (G-SII) identification. The IAIS analysis is focused on identifying G-SIIs—insurers whose distress or disorderly failure would potentially cause significant disruption to the global financial system and economic activity. In collaboration with IAIS, BIS conducts data collection exercises to enable IAIS to assess the potential systemic importance of insurers in a global context (the G-SII Project). IAIS also published the instructions that supplement the guidelines for G-SII data collection exercises by setting out the specificities of the 2018 G-SII data collection exercise conducted for the G-SII Project.

    The guidelines provide a general overview of the data collection exercises conducted for the G-SII Project and how the requested data will be utilized, along with the applicable confidentiality protections. The IAIS G-SII Assessment Methodology describes the internal processes of IAIS for the analysis of the data collected, pursuant to the guidelines and the instructions. For a complete overview of data collection and processes in connection with the G-SII Project, the guidelines, the instructions, and the G-SII Assessment Methodology should be read together.

    IAIS participates in a global initiative to identify global systemically important financial institutions. IAIS participates in this initiative, along with other standard setters, central banks, and financial sector supervisors, under the purview of FSB and G20. IAIS used the 2016 G-SII Assessment Methodology to complete the 2018 G-SII exercise. Since the data used in the analysis is reported on a voluntary, unaudited basis, it may not be standardized, given the heterogeneous nature of firms' businesses and reporting requirements. Therefore, the analysis of IAIS has been performed on a “best-effort” basis. Importantly, the 2016 G-SII Assessment Methodology adds an extra level of transparency to the annual G-SII identification process for both participating insurers and the public. 

    Keywords: International, Insurance, G-SII, Assessment Methodology, Identification Process, G-SII Project, IAIS

    Related Articles
    News

    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.

    January 14, 2021 WebPage Regulatory News
    News

    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.

    January 14, 2021 WebPage Regulatory News
    News

    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.

    January 14, 2021 WebPage Regulatory News
    News

    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.

    January 14, 2021 WebPage Regulatory News
    News

    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.

    January 14, 2021 WebPage Regulatory News
    News

    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.

    January 13, 2021 WebPage Regulatory News
    News

    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.

    January 13, 2021 WebPage Regulatory News
    News

    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.

    January 12, 2021 WebPage Regulatory News
    News

    SRB Chair Outlines Work Priorities for 2021

    The SRB Chair Elke König published an article setting out work priorities for 2021.

    January 11, 2021 WebPage Regulatory News
    News

    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.

    January 11, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6417