Regulatory Alerts2010-08-01 | 24036Added · Updated
Instructions for Group Asset Data Re: Cost Recovery-Insurance Sector
Licensed financial institutions, registered insurance companies acting as holding companies, and financial holding companies must complete a specific balance sheet worksheet to report group asset data for supervisory cost recovery calculations. The reporting template requires separate disclosure of unconsolidated parent balances, individual local and foreign regulated subsidiaries, and aggregated unregulated subsidiaries, followed by consolidation adjustments. To prevent double counting in fee calculations, entities must deduct 100% of assets from domestically regulated subsidiaries and 50% of assets from entities regulated by other domestic or foreign authorities before applying the supervisory fee formula.
More like this from CBTT
We email you every new CBTT publication the day it's published.