EIOPA, together with the Financial Supervisory Authority of Romania (ASF), is announcing the start of the Balance Sheet Review of the Romanian insurance sector in the second half of 2020. The exercise was earlier postponed in view of the special circumstances arising from the COVID-19 pandemic. The new cut-off date for the balance sheet data is June 30, 2020. The governance of the exercise, the follow-up measures, and the use of independent consultants or auditors will remain unchanged, while necessary adjustments to the timeline will be ensured. The Balance Sheet Review independent assessment remains a priority to enhance transparency of the solvency and financial position of the Romanian insurance undertakings.
Related Link: Notification
Keywords: Europe, EU, Romania, Insurance, Balance Sheet Review, Transparency, ASF, Solvency II, Solvency Position, EIOPA
Previous ArticleGLEIF Opens Office in US, Appoints Steven Joachim as New Board Chair
Next ArticleESRB Publishes Risk Dashboard in June 2020
The European Banking Authority (EBA) published its work program for 2023 as well as the technical package for phase 3 of version 3.2 of its reporting framework.
The Board of Governors of the Federal Reserve System (FED) announced a pilot climate scenario analysis exercise for six largest banks in the U.S.
The Bank for International Settlements (BIS) published a paper that studies impact of fintech lending on credit access for small businesses in U.S.
The Prudential Regulation Authority (PRA) issued the policy statement PS8/22 to amend the Own Funds and Eligible Liabilities (CRR) Part of the PRA Rulebook and update the supervisory statement SS7/13 titled "Definition of capital (CRR firms).
The European Banking Authority (EBA) launched the EU-wide transparency exercise for 2022, with results of the exercise expected to be published at the beginning of December, along with the annual Risk Assessment Report.
The Single Resolution Board (SRB) welcomed the adoption of the review of the Capital Requirements Regulation, or CRR, also known as the "CRR quick-fix."
The European Commission (EC) recently adopted the Delegated Regulation 2022/1622, which sets out the regulatory technical standards to specify the countries that constitute advanced economies for the purpose of specifying risk-weights for the sensitivities to equity.
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.
The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.
The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).