Solvency 2 delegated regulation published in OJEU: The Solvency 2 delegated regulation (see FReD 16 January) has been published in the OJEU. The first section, on valuation and risk-based capital requirements (Pillar 1), enhanced governance (Pillar 2) and increased transparency (Pillar 3), covers:

  • valuation of assets and liabilities;
  • rule relating to technical provisions;
  • own funds;
  • solvency capital requirement standard formula;
  • solvency capital requirement - full and partial internal models;
  • minimum capital requirement;
  • investments in securitisation positions;
  • system of governance;
  • capital add-on;
  • extension of recovery period;
  • public disclosure;
  • regular supervisory reporting;
  • transparency and accountability of supervisory authorities; and
  • special purpose vehicles.

The second section, on insurance groups, covers:

  • solvency calculation at group level;
  • internal models for the calculation of the consolidated group solvency capital requirement;
  • supervision of group solvency for groups with centralised risk management;
  • coordination of group supervision;
  • public disclosure; and
  • group supervisory reporting. 

The third section, on third country equivalence, covers:

  • undertakings carrying out reinsurance activities with their head office in a third country; 
  • related third country insurance and reinsurance undertakings; and
  • insurance and reinsurance undertakings with parent undertakings outside the EU.

(Source: Solvency 2 Delegated Regulation)

BRRD ex ante contributions delegated regulation published in OJEU: A delegated regulation on ex ante contributions to resolution financing arrangements under the Bank Recovery and Resolution Directive (BRRD) has been published in the OJEU. (Source: Delegated Regulation on Ex Ante Contributions to Resolution Financing Arrangements under BRRD)

Leverage ratio delegated regulation published in OJEU: The delegated regulation on the leverage ratio, supplementing the Capital Requirements Regulation (see FReD 16 January) has been published in the OJEU. (Source: Delegated Regulation on the Leverage Ratio)

Liquidity coverage delegated regulation published in OJEU: The delegated regulation on the liquidity coverage requirement for credit institutions (see FReD 16 January) has been published in the OJEU. (Source: Delegated Regulation with Regard to the Liquidity Coverage Requirement for Credit Institutions)

Supervisory reporting ITS Regulation amendment published in OJEU: A Regulation amending the the Implementing Technical Standards (ITS) on supervisory reporting as regards asset encumbrance, single data point model and validation rules has been published in the OJEU. (Source: Regulation Amending the Regulation Laying Down ITS on Supervisory Reporting of Institutions)