BaFin on FINREP 2.7 Forms for National GAAP Reporting for Solvency II
BaFin, the Federal Financial Supervisory Authority of Germany, published FINREP 2.7 forms for national GAAP reporting under the Solvency II reporting and disclosure requirements. These forms are valid from March 31, 2018. BaFin also updated regulation on the reporting of insurance companies to the Federal Financial Supervisory Authority.
These FINREP templates cover reporting financial information according to the national accounting framework. Solvency II introduces harmonized reporting requirements that will complement and in part replace national rules. Member states may continue to maintain additional reporting obligations that reflect national specificities or are based on information provided under the commercial law.
Related Links
Keywords: Europe, EU, Germany, Insurance, Reporting, FINREP, Solvency II, GAAP, BaFin
Featured Experts
Adam Koursaris
Asset and liability management expert; capable modeler; risk and capital specialist
David Fihrer
Skilled life insurance actuary; subject matter expert on IFRS 17 and source of earnings
Cassandra Hannibal
IFRS 17 subject matter expert; actuary; risk management and capital projection specialist
Previous Article
EBA Issues Updated Risk Dashboard for Fourth Quarter of 2017Related Articles
BCBS Amends Capital Treatment of Non-Performing Loan Securitizations
BCBS published a technical amendment to the capital treatment of securitizations of non-performing loans by banks.
BoE to Move Statistical Data Collection to BEEDs Portal
BoE announced that the Data and Statistics Division is planning to move collection of statistical data to the BoE Electronic Data Submission (BEEDS) portal.
APRA Updates Reporting Standards and Guidance for EFS Data Collection
APRA published the updated reporting standards and guidance for the collection of Economic and Financial Statistics (EFS), following a consultation process. Also published was a response letter to the feedback received on the proposal for amending the EFS reporting standards and guidance.
EC Consults on Criteria for Environmentally Sustainable Activities
EC is consulting on a draft delegated regulation to supplement the Taxonomy Regulation (2020/852) by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as environmentally sustainable.
IFRS Examines Incorporation of Climate Risk Issues into IFRS Standards
The IFRS Foundation published material highlighting the ways in which existing requirements in IFRS standards require companies to consider climate-related matters when their effect is material to the financial statements.
EBA Analyzes Impact of Unwind Mechanism of Liquidity Coverage Ratio
EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.
ECB Outlines Views on Possible Changes to AnaCredit Rule and TLTROs
In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.
IASB Begins First Phase of Post-Implementation Review of IFRS 9
IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.
FSB Report Examines Progress in Resolvability of Systemic Institutions
FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.
EBA Benchmarks National Insolvency Frameworks Across EU
EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.
