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

    APRA Publishes Proposal to Increase Transparency of Banking Data

    APRA proposed to substantially increase the volume and breadth of data it makes publicly available on authorized deposit-taking institutions, including banks, credit unions, and building societies.

    December 05, 2019 WebPage Regulatory News
    News

    ESMA Consults on Guide to Internal Controls for Credit Rating Agencies

    ESMA launched a consultation on the guidelines on internal controls for credit rating agencies (CRAs).

    December 05, 2019 WebPage Regulatory News
    News

    EU Finalizes Directive and Prudential Rules for Investment Firms

    EU published, in the Official Journal of the European Union, the Directive (2019/2034) and Regulation (2019/2033) on the prudential requirements and supervision of investment firms.

    December 05, 2019 WebPage Regulatory News
    News

    OSFI Revises Guideline on Principles for Management of Liquidity Risk

    OSFI finalized Guideline B-6 on the principles for the management of liquidity risk.

    December 05, 2019 WebPage Regulatory News
    News

    PRA Consults on Framework to Manage Outsourcing and Third-Party Risk

    PRA published a consultation paper CP30/19 that sets out proposals to modernize the regulatory framework on outsourcing and third-party risk management.

    December 05, 2019 WebPage Regulatory News
    News

    BoE, PRA, and FCA Consult to Strengthen Operational Resilience

    BoE, PRA, and FCA published a shared policy summary and coordinated consultation papers on new requirements to strengthen operational resilience in the financial services sector.

    December 05, 2019 WebPage Regulatory News
    News

    EC Amends Rule on Mapping of External Credit Assessment Institutions

    EC published the implementing regulation (EU) 2019/2028, which amends Regulation 2016/1799, regarding the mapping tables specifying correspondence between the credit risk assessments of external credit assessment institutions (ECAIs) and the credit quality steps set out in the Capital Requirements Regulation.

    December 04, 2019 WebPage Regulatory News
    News

    EBA Issues Second Part of Advice on Implementation of Basel III in EU

    EBA published the second part of its advice on the implementation of Basel III in EU, which complements the report published on August 05, 2019.

    December 04, 2019 WebPage Regulatory News
    News

    EU Approves European Council Proposal on CCP Recovery and Resolution

    EU ambassadors approved the position of European Council on a proposed framework for clearing houses and their authorities to prepare for and deal with financial difficulties.

    December 04, 2019 WebPage Regulatory News
    News

    OSFI Releases Guideline on Foreign Bank Branch Deposit Requirements

    OSFI released the final version of Guideline A-10 on foreign bank branch deposit requirements, along with guideline impact analysis statement.

    December 04, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4268