EIOPA published the fourth and last parallel technical information on the relevant risk-free interest rate, or RFR, term structures, with reference to the end of December 2019, based on Refinitiv data. This parallel publication reflects the content of the technical documentation published on October 01, 2019 and is based on risk-free interest rate coding released on October 08, 2019; it will allow stakeholders to compare their own calculations with those of EIOPA before the official publications for the end of January 2020.
EIOPA also published monthly technical information on the risk-free interest rate term structures with reference to the end of December 2019. EIOPA is informing that a bug, which was spotted in the derivation of the weights of the country corporate part of the representative portfolios, has been fixed. Technical information related to the risk-free interest rate term structures is used to calculate technical provisions for (re)insurance obligations. In line with the Solvency II Directive, EIOPA publishes technical information relating to the risk-free interest rate term structures on a monthly basis. This is intended to ensure consistent calculation of technical provisions across Europe, and, thus, higher supervisory convergence for the benefit of the European insurance policyholders.
Keywords: Europe, EU, Insurance, Reinsurance, Solvency II, Risk-free Interest Rate, Reporting, Refinitiv Data, RFR Calculation, RFR Coding, EIOPA
Previous ArticleCBB Publishes Consultations and Revised Rules in December 2019
Next ArticleESMA Publishes Its Strategic Orientation for 2020-22
APRA updated the lists of the Direct to APRA (D2A) validation and derivation rules for authorized deposit-taking institutions, insurers, and superannuation entities.
EC adopted a package that includes the digital finance and retail payments strategies and the legislative proposals for regulatory frameworks on crypto-assets and digital operational resilience.
ECB published an opinion (CON/2020/22) on proposals for regulations amending the securitization framework of EU, in response to the COVID-19 pandemic.
FCA is consulting on its approach to the authorization and supervision of international firms operating in UK.
MAS published amendments to Notice 637 on the risk-based capital adequacy requirements for reporting banks incorporated in Singapore.
FCA announced that it will move firms to RegData from Gabriel in the coming months in stages, based on the reporting requirements of firms.
ISDA issued a letter to regulators to flag that it now expects the supplement to the 2006 ISDA Definitions and the Interbank Offered Rate (IBOR) Fallbacks Protocol to be effective around mid- to late-January 2021.
APRA has concluded its review of the comprehensive plans of authorized deposit-taking institutions for the assessment and management of loans with repayment deferrals.
ESAs (EBA, EIOPA, and ESMA) published the first joint report that assesses risks in the financial sector since the outbreak of the COVID-19 pandemic.
BoE and HM Treasury confirmed that the COVID Corporate Financing Facility (CCFF) will close for new purchases of commercial paper, with effect from March 23, 2021.