BaFin published the final circular and reporting form for demonstrating the capital adequacy of a financial conglomerate. This follows a consultation, which BaFin had published in October 2017.
The circular replaces 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 (Regulation No 342/2014), which specifies the methods for calculating own funds of financial conglomerates.
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Keywords: Europe, Germany, Banking, Insurance, Solvency II, Reporting, CRD IV, Capital Adequacy, Own Funds, BaFin
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