PRA updates on Solvency 2: PRA has written to directors of insurance companies updating them on progress towards Solvency 2 implementation. Its update covers:

  • the effects of the Solvency 2 implementing Regulation which took effect on 15 January;
  • regulatory reporting;
  • Solvency 2 approvals;
  • balance sheets;
  • internal model;
  • standard formula;
  • consultation update;
  • data collection; and
  • PRA's Regulatory Digest.

It annexes a table of Solvency 2 publications scheduled for the coming months. (Source: PRA Updates on Solvency 2)

PRA offers extension of liquidity waivers: PRA is offering to extend the duration of whole-firm liquidity modifications, intragroup liquidity modifications (for non-UK defined liquidity groups) and CRR article 8 permissions that expire on or before 30 September 2015. That extension would last until 1 October, when the Liquidity Coverage Requirement adopted by the Commission becomes the binding liquidity standard. (Source: Waivers and Modifications: What Should an Application Include?)