DNB issued insurance newsletter for September 2017. In this month’s newsletter, DNB insists that insurers keep an eye on solvency without Ultimate Forward Rate (UFR) and the Volatility Adjustment. Solvency II contains a number of elements aimed at (market) damping volatility of the Solvency II ratio of insurers. These include UFR extrapolation and the Long-Term Guarantee measures, including Volatility Adjustment.
Other focus areas include the following:
- Progress on the DNB’s research on the impact of regulation this year
- DNB guidance on principles on data quality management by insurers in relation to Solvency II
- DNB introducing further rules on remuneration policy, in the concept of managed remuneration policy 2017 (Rbb 2017)
- DNB publishing the Good Practice Integrity Risk Appetite after processing the responses to the previously published draft document
- DNB organizing an information meeting on November 06, 2017
Keywords: Europe, Netherlands, Insurance, Newsletter, Solvency II, QIS Calendar, UFR, DNB
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The Hong Kong Monetary Authority (HKMA) revised the Supervisory Policy Manual module CG-5 that sets out guidelines on a sound remuneration system for authorized institutions.
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In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.
The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.
The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.
The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.
The European Securities and Markets Authority (ESMA) published recommendations from the Working Group on Euro Risk-Free Rates (RFR) on the switch to risk-free rates in the interdealer market.
The European Central Bank (ECB) published a paper as well as an article in the July Macroprudential Bulletin, both of which offer insights on the assessment of the impact of Basel III finalization package on the euro area.
The International Swaps and Derivatives Association (ISDA) published a paper that explores the impact of the Fundamental Review of the Trading Book (FRTB) on the trading of carbon certificates.
The Prudential Regulation Authority (PRA) published the remuneration policy self-assessment templates and tables on strengthening accountability.