Featured Product

    BoE Publishes Working Draft of IMO and MRS Taxonomy for Solvency II

    September 21, 2018

    BoE published a public working draft (PWD) of the standalone internal model output (IMO) and market risk sensitivities (MRS) taxonomy (v1.0.0), along with the related technical artefacts; the PWD will make up part of the insurance XBRL taxonomy. Firms and software vendors are invited to provide feedback on the data point modeling, annotated templates, validations, and XBRL taxonomy by September 28, 2018.

    The PWD follows Policy Statement 21/18' titled “Solvency II: Changes to reporting format” and is based on the proposals in Consultation Paper 10/18 titled “Solvency II: Updates to internal model output reporting.” The taxonomy, data point model (DPM) dictionary, annotated templates, and validation rules represent the reporting requirements as set out in Supervisory Statement (SS) 25/15 titled “Solvency II: regulatory reporting, internal model outputs”; SS26/15 titled “Solvency II: ORSA and the ultimate time horizon – non-life firms”; and SS7/17  titled “Solvency II: Data collection of market risk sensitivities.” The DPM extends Solvency II version 2.3.0.0 dictionary of EIOPA. This PWD should not be used for reporting.  It is to be noted that the PWD for National Specific Templates and standard formula reporting for firms with an approved internal model was published on August 10, 2018 and consultation closed on August 24, 2018: the final live release will consolidate all frameworks.

     

    Related Links

     

    Keywords: Europe, UK, Insurance, Solvency II, Reporting, Taxonomy BoE

    Featured Experts
    Related Articles
    News

    BCBS Consults on Principles for Operational Risk and Resilience

    BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.

    August 06, 2020 WebPage Regulatory News
    News

    FSI Note Discusses Challenges Associated with COVID Relief Measures

    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.

    August 06, 2020 WebPage Regulatory News
    News

    HKMA Announces Repayment Deferment Under Payment Holiday Scheme

    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.

    August 05, 2020 WebPage Regulatory News
    News

    ESRB Paper Presents Alternative Approach to EBA Stress Test Proposal

    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.

    August 05, 2020 WebPage Regulatory News
    News

    MAS Announces Key Initiatives to Support Adoption of SORA

    MAS announced several initiatives to support adoption of the Singapore Overnight Rate Average (SORA), which is administered by MAS.

    August 05, 2020 WebPage Regulatory News
    News

    BoE Updates Template and Definitions for Form ER

    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.

    August 05, 2020 WebPage Regulatory News
    News

    PRA to Extend Temporary High Balance Coverage Amid COVID Crisis

    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.

    August 04, 2020 WebPage Regulatory News
    News

    EBA Publishes Standards on Disclosure and Reporting of MREL and TLAC

    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.

    August 03, 2020 WebPage Regulatory News
    News

    EBA Releases Erratum for Phase 2 Package on Reporting Framework 2.10

    EBA published an erratum for the phase 2 of technical package on the reporting framework 2.10.

    August 03, 2020 WebPage Regulatory News
    News

    EC Sets Out Updated Technical Information for Solvency II Calculations

    EC published the Implementing Regulation 2020/1145, which lays down technical information for calculation of technical provisions and basic own funds.

    August 03, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5635