Regulatory Alerts2015-11-11
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Commission Implementing Regulation (EU) 2015/2017 laying down implementing technical standards for currency risk capital requirements for currencies pegged to the euro
The European Commission adopted Implementing Regulation (EU) 2015/2017 to establish specific adjusted factors for calculating capital requirements for currency risk under Solvency II. The regulation replaces the standard 25% factor with precise percentages for currencies pegged to the euro, including the Danish krone, Bulgarian lev, and various CFA francs, as well as for pairs of these currencies. These technical standards apply to insurance and reinsurance undertakings subject to Directive 2009/138/EC. The regulation entered into force on the twentieth day following its publication in the Official Journal on 12 November 2015.
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