BaFin published the final circular and reporting form for demonstrating the capital adequacy of a financial conglomerate. This follows a consultation, which BaFin had published in October 2017.
The circular replaces the Financial Conglomerate Solvency Regulation (FkSolV) while the form replaces the reporting forms pursuant to § 10 and Appendices 1 to 8 of the FkSolV. This is based on new requirements based on the Capital Requirement Regulation (CRR) and the Capital Requirements Directive (CRD IV) as well as Solvency II and the corresponding delegated regulation (Regulation No 342/2014), which specifies the methods for calculating own funds of financial conglomerates.
Related Links (in German)
Keywords: Europe, Germany, Banking, Insurance, Solvency II, Reporting, CRD IV, Capital Adequacy, Own Funds, BaFin
BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).
US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.
PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.
EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).
FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.
IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.
FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).
EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.
ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.
IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.