BaFin is consulting on the reporting form and the notes on the data to be reported to demonstrate adequate capital adequacy at the level of a financial conglomerate. BaFin published the draft of a circular and a notification form. Comments are due by November 17, 2017.
The consultation is addressed to all companies in a financial conglomerate that are to be included in the calculation of own funds pursuant to section 18 (1) of the Financial Conglomerates' Supervision Act (FKAG) and other interested parties. The circular will replace 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.
Related Link: Consultation (in German)
Keywords: Europe, Germany, Insurance, Solvency II, Reporting, CRD IV, BaFin
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