EIOPA published the fourth and last parallel technical information on the relevant risk-free interest rate, or RFR, term structures, with reference to the end of December 2019, based on Refinitiv data. This parallel publication reflects the content of the technical documentation published on October 01, 2019 and is based on risk-free interest rate coding released on October 08, 2019; it will allow stakeholders to compare their own calculations with those of EIOPA before the official publications for the end of January 2020.
EIOPA also published monthly technical information on the risk-free interest rate term structures with reference to the end of December 2019. EIOPA is informing that a bug, which was spotted in the derivation of the weights of the country corporate part of the representative portfolios, has been fixed. Technical information related to the risk-free interest rate term structures is used to calculate technical provisions for (re)insurance obligations. In line with the Solvency II Directive, EIOPA publishes technical information relating to the risk-free interest rate term structures on a monthly basis. This is intended to ensure consistent calculation of technical provisions across Europe, and, thus, higher supervisory convergence for the benefit of the European insurance policyholders.
Keywords: Europe, EU, Insurance, Reinsurance, Solvency II, Risk-free Interest Rate, Reporting, Refinitiv Data, RFR Calculation, RFR Coding, EIOPA
Previous ArticleCBB Publishes Consultations and Revised Rules in December 2019
Next ArticleESMA Publishes Its Strategic Orientation for 2020-22
The European Banking Authority (EBA) launched the 2023 European Union (EU)-wide stress test, published annual reports on minimum requirement for own funds and eligible liabilities (MREL) and high earners with data as of December 2021.
The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.
The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.
The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.
The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.
The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.
The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.
The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.
The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.
The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.