PRA published version 1.1.0 of the BoE insurance XBRL taxonomy, along with the related technical artefacts. The taxonomy is to be used for the collection of National Specific Templates (NSTs), internal model output, market risk sensitivities, and standard formula for firms with an approved internal model (SF.01) reporting. This will take effect from November 30, 2019. This version of the taxonomy, data point model (DPM) dictionary, annotated templates, and validation rules follow the policy statement PS21/19 on minor amendments to the PRA Rulebook Parts, supervisory statements, and bank and insurer reporting templates. PS21/19 was published on September 30, 2019.
Effective Date: November 30, 2019
Keywords: Europe, UK, Insurance, Reporting, PS 21/19, Solvency II, National Specific Templates, Internal Model, XBRL, Taxonomy 1.1.0, DPM, Validation Rules, PRA, BoE
Previous ArticleIASB Proposes Updates to IFRS Taxonomy for 2019
The European Banking Authority (EBA) published four draft principles to support supervisory efforts in assessing the representativeness of COVID-19-impacted data for banks using the internal ratings based (IRB) credit risk models.
The European Council and the European Parliament (EP) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD).
The Prudential Regulation Authority (PRA) launched a consultation (CP6/22) that sets out proposal for a new Supervisory Statement on expectations for management of model risk by banks.
The European Commission (EC) published the Delegated Regulation 2022/954, which amends regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.
The Bank for International Settlements (BIS) Innovation Hub updated its work program, announcing a set of projects across various centers.
The European Insurance and Occupational Pensions Authority (EIOPA) published two consultation papers—one on the supervisory statement on exclusions related to systemic events and the other on the supervisory statement on the management of non-affirmative cyber exposures.
Certain members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a letter to the Securities and Exchange Commission (SEC)
The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on the advice on the review of the securitization prudential framework in Solvency II.
The Prudential Regulation Authority (PRA) issued a statement on PRA buffer adjustment while the Bank of England (BoE) published a notice on the statistical reporting requirements for banks.
The Basel Committee on Banking Supervision (BCBS) issued principles for the effective management and supervision of climate-related financial risks.