EIOPA published its semi-annual financial stability report on the insurance, reinsurance, and occupational pensions sectors in the European economic area in December 2017. The report covers developments in financial markets, the macroeconomic environment, and the insurance, reinsurance, and occupational pension fund sectors as of the second quarter of 2017.
The report draws on both quantitative and qualitative information from the EIOPA member authorities. Supervisory risk assessments as well as market data are further core building blocks of the analysis. The report first discusses the key risks identified for the insurance and occupational pension sector. It then elaborates on these risks covering all sectors (insurance, reinsurance, and pensions) and provides the final qualitative and quantitative assessment of the risks identified. This assessment has been conducted in terms of the likelihood and the impact of the materialization of these risks. The report also includes a thematic article on macroeconomic fundamentals and latent factors of the European Union yield curve.
Keywords: Europe, EU, Insurance, Reinsurance, Occupational Pensions, Financial Stability Report, EIOPA
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).