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.