Featured Product

    EIOPA Publishes XBRL Taxonomy for Reporting of Information on IORPs

    November 05, 2018

    EIOPA published the XBRL Taxonomy applicable for reporting of information on Institutions for Occupational Retirement Provision (IORPs) as of the third quarter of 2019. This taxonomy provides national competent authorities with the technical means for submission, to EIOPA, of harmonized information of all pension funds in the European Economic Area. Additionally, EIOPA published a hotfix update for version 2.3.0 of the Solvency II taxonomy. This update corrected the taxonomy validations to optimize the data quality with minor impact on IT systems—providing XBRL instance compatibility with version 2.3.0.

    EIOPA, in close collaboration with ECB, developed the integrated technical templates and means to report—via a single submission—the information required by both EIOPA and ECB. Subject to adoption by the national competent authorities, this integrated taxonomy may also be used for the collection of information from the pension funds by national competent authorities. Such an adoption would reap efficiency gains and further clarity of the reported information.

    The Pensions XBRL Taxonomy can be reconciled with Solvency II reporting requirements and is closely aligned with the ECB pensions reporting requirements. The taxonomy uses the same architecture as Solvency II and offers—via one common dictionary—all insurance, pension funds, and ECB "add-ons" concepts. The taxonomy dictionary, based on the Data Point Model (DPM), provides a single definition of the terms and the relations among them.

     

    Related Links

    Keywords: Europe, EU, Insurance, Solvency II, Pension Funds, Annotated Templates, DPM, XBRL, Taxonomy, IORPs, EIOPA

    Featured Experts
    Related Articles
    News

    HKMA on Fintech Adoption and Innovation by Banks in Hong Kong

    HKMA announced the publication of a report on fintech adoption and innovation in the banking industry in Hong Kong.

    May 20, 2020 WebPage Regulatory News
    News

    BIS on Impact of Increasing Use of Cloud Technology on Cyber Risk

    BIS published a working paper that examines the drivers of cyber risk, especially in context of the cloud services.

    May 20, 2020 WebPage Regulatory News
    News

    ECB Consults on Guide for Managing Climate and Environmental Risks

    ECB launched consultation on a guide specifying how the Banking Supervision expects banks to consider climate-related and environmental risks in their governance and risk management frameworks and when formulating and implementing their business strategy.

    May 20, 2020 WebPage Regulatory News
    News

    ECB Issues Opinion on Revisions to CRR in Response to COVID Crisis

    ECB published an opinion (CON/2020/16) on amendments to the prudential framework in EU in response to the COVID-19 pandemic.

    May 20, 2020 WebPage Regulatory News
    News

    EBA Assesses Interlinkages Between Recovery and Resolution Planning

    EBA published a report that examines the interlinkages between recovery and resolution planning under the Bank Recovery and Resolution Directive (BRRD).

    May 20, 2020 WebPage Regulatory News
    News

    SRB Publishes Final MREL Policy Under the Banking Package

    SRB published the final Minimum Requirements for Own Funds and Eligible Liabilities (MREL) policy under the Banking Package.

    May 20, 2020 WebPage Regulatory News
    News

    US Agencies Amend Interim Final Rule on Transition Period for CECL

    US Agencies (FDIC, FED, and OCC) published a final rule that makes technical changes to the March 31, 2020 interim final rule that provides a five-year transition period for the impact of the current expected credit loss (CECL) methodology on regulatory capital.

    May 19, 2020 WebPage Regulatory News
    News

    ECB Releases Results of March Survey on Credit Terms and Conditions

    ECB published results of the March 2020 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter (OTC) derivatives markets.

    May 19, 2020 WebPage Regulatory News
    News

    FINMA Adjusts Deadlines for COVID-19 Relief Measures for Banks

    FINMA published guidance (06/2020) on extending or discontinuing various exemptions that were granted due to the COVID-19 crisis.

    May 19, 2020 WebPage Regulatory News
    News

    SRB Consults on Standardized Data Set for Bank Valuation in Resolution

    SRB launched a consultation on the minimum data needed for valuation of a bank in resolution.

    May 19, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5203