RegAlert2016-04-25 | NBB_2016_16Added
Circular NBB_2016_16 / Circular on guidelines for the treatment of market and counterparty risk exposures in the standard formula
The circular establishes guidelines for Belgian insurance and reinsurance companies on calculating capital requirements for market and counterparty risks under the Solvency II standard formula. It specifies how to account for extra-legal employee benefits, bond duration with redemption options, interest rate risk sub-modules, hybrid assets, short positions, concentration risk, securities lending, and binding payment commitments. These rules apply to Belgian insurance entities and their branches starting from March 23, 2016.
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NBB_2016_16 – 25 April 2016 Circular – Page 1/5 14 Berlaimont Boulevard – BE-1000 Brussels tel. +32 2 221 38 12 – fax +32 2 221 31 04 company number: 0203.201.340 Brussels RPM www.bnb.be
Circular
Brussels, 25 April 2016
Reference: NBB_2016_16 your contact:
Kajal Vandenput tel. +32 2 221 51 77 – fax +32 2 221 31 04 Kajal.vandenput@nbb.be
Circular on guidelines for the treatment of market risk and counterparty risk exposures in the standard formula
Scope
Belgian insurance or reinsurance undertakings.
Insurance or reinsurance undertakings that are part of a Belgian group within the meaning of Article 339, 2° of the Law of 13 March 2016 on the status and supervision of insurance or reinsurance undertakings. Belgian undertakings that are part of a Belgian financial conglomerate within the meaning of Article 340, 1° of the aforementioned Law of 13 March 2016. Branches of third-country undertakings carrying on insurance [or reinsurance] activities in Belgium. This circular applies to mutual insurance companies as defined in Article 15, 79° of the aforementioned Law of 13 March 2016. For these undertakings, "the Bank" should be replaced by "the Office for the Control of Mutualities and National Unions of Mutualities" as defined in Article 15, 84° of the same Law. This circular does not apply to insurance undertakings referred to in Articles 275, 276 or 294 of the aforementioned Law of 13 March 2016.
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Lineage: In force
Source: National Bank of Belgium — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works