EIOPA published the first annual report that provides an overview of the insurance sector in Europe, as an extension of its statistical services. The report is based on annually reported Solvency II information. This ensures that the data has a high coverage from all countries and has been reported consistently across the European Economic Area.
The report, which is objective, factual and data driven, does not contain analysis or policy messages. All indicators used in the report have been calculated from the reported data from undertakings. While the coverage of topics and indicators is intended to be relatively stable over time, the report will be adapted to respond to changes in the micro-prudential and supervisory priorities. The report will, therefore, support the supervisory community and industry with highly relevant and easily accessible data at the European level. All the data depicted via charts is available for download separately.
Keywords: Europe, EU, Insurance, Solvency II, European Insurance Overview, Statistics, EIOPA
BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.
The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.
HKMA, together with the Banking Sector Small and Medium-Size Enterprise (SME) Lending Coordination Mechanism, announced a ninety-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme.
The Advisory Scientific Committee of ESRB published a response, in the form of an Insights Paper, to the EBA proposals for reforms to the stress testing framework in EU.
MAS announced several initiatives to support adoption of the Singapore Overnight Rate Average (SORA), which is administered by MAS.
BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.
PRA published the policy statement PS19/20 on the final policy for extending coverage under the Financial Services Compensation Scheme (FSCS) for Temporary High Balance.
EBA published the final draft implementing technical standards for disclosures and reporting on the minimum requirements for own funds and eligible liabilities (MREL) and the total loss-absorbing capacity (TLAC) requirements in EU.
EBA published an erratum for the phase 2 of technical package on the reporting framework 2.10.
EC published the Implementing Regulation 2020/1145, which lays down technical information for calculation of technical provisions and basic own funds.