NBB published the technical information, technical specifications, and reporting templates for the stress test on insurers in 2020. The results are to be submitted on June 08, 2020. In 2020, the Belgian insurance sector is subject to a stress test consisting of one scenario (low yield). The scenario was developed by NBB and is applied to all Belgian insurance undertakings having life activities.
Stress testing is an appropriate tool to identify vulnerabilities of the financial system and to assess the potential impact of risks on the stability of the financial system in general and the insurance sector more specifically. Stress testing also helps to identify those undertakings that may pose a risk to the stability of the financial system or the insurance sector. NBB can, after the analysis of the stress test results, issue recommendations to be implemented by the insurance undertakings in order to contribute to the stability of the financial system.
- Insurance Stress Test for 2020
- Technical Information Version 3.1 (Update in XLSX)
- Technical Specifications Version 1.1 (PDF)
- Reporting Templates (XLSX)
Keywords: Europe, Insurance, Stress Testing, Reporting, Scenario, Technical Specifications, NBB
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EBA published a report on the implementation of selected COVID-19 policies within the prudential framework for banking sector.
EC launched a consultation to revise the network and information systems (NIS) Directive (2016/1148), which was adopted in July 2016 and is the first horizontal internal market instrument aimed at improving the resilience of the EU against cybersecurity risks.
PRA published a statement that outlines its view on the implications of LIBOR transition for contracts in scope of the “Contractual Recognition of Bail-In” and “Stay in Resolution” parts of the PRA Rulebook.
PRA published the policy statement PS15/20 to reflect additional resilience associated with higher macro-prudential buffers in a standard risk environment with a reduction in Pillar 2A capital requirements.
BCBS published the eighteenth progress report on implementation of the Basel III regulatory framework in member jurisdictions.
FCA announced proposals that would provide continued support for certain consumer credit products to users, who are facing a financial impact because of the exceptional circumstances arising from the COVID-19 pandemic.
ACPR published a draft version of taxonomy RAN 1.4.0_PWD1, along with the related documentation, for Solvency II reporting.
BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).