On 9 October 2015, the EIOPA published a press release announcing that the ultimate forward rates (UFRs) (used to calculate the risk-free interest rate term structures under Solvency II) will remain unchanged until at least the end of 2016. EIOPA is reviewing the methodology for deriving the UFRs and will launch a public consultation next year, with a view to reaching a decision on the outcome by September 2016.