Regulatory Alerts2022-05-12
Added · Updated
Commission Implementing Regulation (EU) 2022/732 laying down technical information for the calculation of technical provisions and basic own funds
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 from 31 March 2022 until 29 June 2022. This regulation requires the use of relevant risk-free interest rate term structures, fundamental spreads for the matching adjustment, and volatility adjustments as set out in Annexes I, II, and III. These values are based on market data from the end of March 2022 and apply uniformly to ensure prudential consistency across Member States. The regulation entered into force on 14 May 2022 and applies retroactively from 31 March 2022.