Regulatory Alerts2016-05-27
Added · Updated
Commission Implementing Regulation (EU) 2016/869 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 March until 29 June 2016
The European Commission mandates that insurance and reinsurance undertakings use specific technical information to calculate technical provisions and basic own funds for reporting reference dates between 31 March and 29 June 2016. This Regulation requires the use of relevant risk-free interest rate term structures, fundamental spreads for matching adjustments, and volatility adjustments as set out in Annexes I, II, and III. These values are based on market data from the end of March 2016 and apply uniformly to ensure consistent prudential reporting across Member States. The Regulation entered into force on 4 June 2016 and applies retroactively from 31 March 2016.