On 2 December 2014, EIOPA announced the publication of 17 consultation papers on the second set of draft implementing technical standards (ITS) and guidelines for Solvency II, together with a cover note which, among other things, lists the key features of the consultation papers. Links to all the documents are given on this webpage.

In the area of Pillar 1 (quantitative requirements), the following areas are being consulted on:

  • guidelines on the valuation of assets and liabilities;
  • guidelines on the implementation of the long term guarantee measures;
  • ITS on the list of regional governments and local authorities;
  • ITS on the index for the equity dampener;
  • ITS on the currency shock for currencies pegged to the Euro;
  • ITS on the standard deviations for health insurance obligations subject to health risk equalisation systems;
  • ITS on the equity charge transitional.

In the area of Pillar 2 (governance and supervision), the following areas are being consulted on:

  • guidelines on the extension of the recovery period;
  • ITS on procedures when assessing external credit assessments;
  • ITS on supervisory transparency and accountability;
  • ITS on capital add-on.

In the area of Pillar 3 (reporting and disclosure), the following areas are being consulted on:

  • guidelines on methods to determine the market share for the purpose of exemptions to supervisory reporting;
  • guidelines on reporting for financial stability purposes;
  • guidelines on reporting and disclosure;
  • guidelines on exchange of information on a systematic basis within colleges;
  • ITS on the templates for the submission of information to the supervisory authorities;
  • ITS on procedures, formats and templates of the solvency and financial condition report. Comments on these consultation papers are requested by 2 March 2015.

In addition, EIOPA is consulting on guidelines on the supervision of third country branches, comments

on this are requested by 2 March 2015 and on technical advice for a regulatory technical standard on recovery plans and finance schemes, comments on this are requested by 18 February 2015.