The European Insurance and Occupational Pensions Authority (EIOPA) published its consultation linked to corrections and amendments of the implementing technical standards (ITS) on reporting and disclosure.
The draft amendments address the Commission Delegated Regulation (EU)…/… (C(2019) 1900), amending Delegated Regulation (EU) 2015/35 and the Commission Delegated Regulation 2018/1221 of 1 June 2018 amending Delegated Regulation (EU) 2015/35 as regards the calculation of regulatory capital requirements for securitisations as well as simple, transparent and standardised securitisations held by insurance and reinsurance undertakings.
Some of the proposals under consultation are based on the amendments to the Delegated Regulation (EU) 2015/35 adopted by the European Commission on 8 March 2019 and currently under the scrutiny period of the European Parliament and the Council.
In addition, the closed list of the nominated External Credit Assessment Institutions (ECAIs) has been amended to reflect the changes introduced in 2018 by the European Securities and Markets Authority (ESMA), e.g. new registrations and withdrawn registrations.
Furthermore, one correction is part of the consultation addressing an error in the instructions of the template "S.25.02 - Solvency Capital Requirement" – for groups using the standard formula and partial internal model.
The proposed amendments are kept to the minimum and do not reflect a detailed review of the requirements, which will be part of the 2020 Reporting and Disclosure Review. The proposals aim to align the reporting and disclosure with the amendments to the Delegated Regulation (EU) 2015/35.
Stakeholders are invited to provide their input to the proposed corrections and amendments by 14 May 2019.
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