The following draft ITS were submitted to the European Commission for endorsement:
- Regional governments and local authorities treated as exposures
- Equity index for the equity dampener
- Currency shock for currencies pegged to the euro
- Standard deviations in relation to health risk equalisation systems
- Supervisory transparency and accountability
- Capital add-ons
- Risk management: procedures when assessing external credit assessments
- Templates for the submission of information to the supervisory authorities
- Procedures, formats and templates of the Solvency and Financial Condition Report
- Submission of information to group supervisor and exchange of information and exchange of information between supervisory authorities.
EIOPA will submit the final ITS on application of the equity transitional to the Commission shortly.
The Commission has three months from submission to decide whether or not to endorse the ITS. Once endorsed, the ITS will be translated into all official EU languages and become legally binding.
Guidelines
The second set of Guidelines were published for consultation in December 2014. EIOPA has now published final reports for these Guidelines covering:
- Recognition and valuation of assets and liabilities other than technical provisions
- Implementation of the long-term guarantee measures
- Extension of the recovery period in exceptional adverse situations
- Methods for determining the market shares for reporting
- Reporting for financial stability purposes
- Reporting and public disclosure
- Exchange of information on a systematic basis within colleges
- Supervision of branches of third-country insurance undertakings.
