On 2 February 2015, EIOPA issued a press release explaining the implications of recent budget cuts on its 2015 work programme.  EIOPA has undertaken a reprioritisation exercise in response to the cuts, including by the postponement/cancellation of projects.  Solvency II will remain the highest priority for EIOPA. However, amongst other matters, the Solvency II supervisor training programme will be curtailed and production of the IT supervisory toolkit for XBRL reporting has been cancelled.