BaFin published an “interpretative decision” on the evaluation of amounts recoverable from reinsurance contracts and special purpose vehicles (SPVs) under Solvency II. The interpretative decision also addresses the handling of cash flows from settlement receivables and payables as well as deposit receivables and liabilities under Solvency II.
Under Solvency II, technical provisions are calculated without deducting the amounts recoverable from reinsurance contracts and SPVs (Section 77(4) of the Insurance Supervision Act (VAG)). The interpretative decision deals with the quantitative requirements in the Solvency II. The decision also deals with consideration of deposit liabilities in the Solvency Capital Requirement (SCR) standard formula.
Related Links (in German)
Keywords: Europe, Germany, Insurance, Reinsurance, Solvency II, Interpretative Decision, Reinsurance Contract, SCR, BaFin
Previous ArticleBaFin Publishes Ruling on CET 1 Instruments for Cooperative 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.
Bundesbank updated AnaCredit reporting requirements for banks, with reference to the Notice 8001/2020.
CBUAE has issued a regulation that introduces the licensing and supervision framework for low-risk, specialized banks.
APRA is consulting on CPG 511—the draft Prudential Practice Guide on remuneration for banks, insurers, and superannuation licensees—with the comment period ending on July 23, 2021.
MAS announced a new RegTech grant scheme and an enhancement of the Digital Acceleration Grant (DAG) scheme to accelerate technology adoption in the financial sector.
PRA published a letter that sets out findings from the 2020 Internal Audit Review of the Collections function of a sample of non-systemic banks and building societies.
EIOPA launched a consultation on the Interbank Offered Rate (IBOR) transitions, in context of the EU Benchmarks Regulation.
The Trustees of the IFRS Foundation proposed amendments to the Constitution of the IFRS Foundation to accommodate the potential formation of the new International Sustainability Standards Board within the governance structure of the organization.
BCB amended the resolution that establishes technical requirements and operational procedures for the implementation of open banking in Brazil, with the amended resolution entering into force on its publication date.