BaFin is consulting on the reporting form and the notes on the data to be reported to demonstrate adequate capital adequacy at the level of a financial conglomerate. BaFin published the draft of a circular and a notification form. Comments are due by November 17, 2017.
The consultation is addressed to all companies in a financial conglomerate that are to be included in the calculation of own funds pursuant to section 18 (1) of the Financial Conglomerates' Supervision Act (FKAG) and other interested parties. The circular will replace 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.
Related Link: Consultation (in German)
Keywords: Europe, Germany, Insurance, Solvency II, Reporting, CRD IV, BaFin
Previous ArticleFED Extends Comment Date on Two Proposals for Firms It Supervises
MAS and Temasek jointly released a report to mark the successful conclusion of the fifth and final phase of Project Ubin, which focused on building a blockchain-based multi-currency payments network prototype.
PRA published a public working draft, or PWD, of version 1.2.0 of the BoE Insurance XBRL taxonomy, along with the related technical artefacts.
CPMI published a report that sets out nineteen building blocks for a global roadmap to improve cross-border payments.
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
APRA updated the lists of the Direct to APRA (D2A) validation rules for authorized deposit-taking institutions, insurers, and superannuation entities.
PRA updated the statement that provides guidance to regulated firms on implementation of the EBA guidelines on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis.
EBA updated the 2019 list of closely correlated currencies that was originally published in December 2013.
ESMA published the final report on the guidelines on securitization repository data completeness and consistency thresholds.
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.