Regulatory Alerts2021-06-11 | Circular 04/2018 (VA) – Financial Conglomerate SolvencyAdded · Updated
Circular 04/2018 (VA) – Reporting Financial Conglomerate Solvency
Issued by BaFin and the Deutsche Bundesbank, this circular introduces a transitional reporting template for calculating and submitting financial conglomerate solvency. Superordinate undertakings must apply one of three technical calculation methods, verify the transferability and prevent double-counting of own funds, and file annual reports with BaFin, the Bundesbank, and potentially the ECB within nine months of their financial year-end. The standardized template replaces prior Financial Conglomerates Solvability Regulation forms by structuring data into own funds, conglomerate-level solvency requirements, and capital adequacy verification to ensure alignment with CRR/CRD IV and Solvency II frameworks.
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