The European Commission has adopted an Implementing Regulation on the risk-free rate under the Solvency II Directive (2009/138/EC). The Implementing Regulation sets out technical information to be used by insurers when calculating technical provisions and basic own funds for reporting with reference dates from March 31 until June 29, 2016. Insurers should use the technical information, which is based on market data related to the end of the last month preceding the first reporting reference date to which the Implementing Regulation applies. EIOPA provided the Commission with the technical information relating to end March 2016 market data in April 2016. That information was published on April 7, 2016 in accordance with Article 77e(1) of Solvency II.
The Implementing Regulation will enter into force on the day after it is published in the Official Journal of the EU (OJ) and shall apply from March 31, 2016.