Regulatory Alerts2014-01-08
Solvency Regulation (Solvency Ordinance - SolvV)
The German Federal Ministry of Finance issued the Solvency Ordinance (SolvV) to implement EU Capital Requirements Directive 2013/36/EU and adapt supervisory rules to Regulation (EU) No 575/2013. The regulation establishes detailed requirements for institutions and groups regarding internal approaches for calculating minimum capital requirements, including specific eligibility checks, benchmarking, and transition rules for the Internal Ratings-Based approach. It further defines procedures for supervisory oversight, anti-cyclical capital buffers, and the treatment of minority holdings within financial groups.
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