The European (re)insurance industry recognises the need to revisit the current framework for Financial Conglomerates in the current regulatory and supervisory environment. For the (re)insurance industry, financial conglomerates legislation is currently based on Insurance Groups Directive (98/78/EC) which will be repealed upon entry into force of Solvency II.
Under Solvency II, (re)insurers [...]
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Posted on May 13th, 2012
The Swiss Financial Market Supervisory Authority FINMA has opened the consultation on the new Insurance Bankruptcy Ordinance. This Ordinance is needed because the Insurance Supervision Act only provides a rudimentary framework for bankruptcy proceedings and because FINMA is responsible for overseeing the bankruptcy of insurance companies since 1 September 2011. The consultation period [...]
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Posted on May 10th, 2012
Following the publication of the 2011 EU-wide stress test results in July 2011, the EBA issued a Recommendation to national supervisory authorities (NSAs) to ensure that appropriate mitigating actions were put in place with respect to (i) banks with a Core Tier 1 capital (CT1) ratio below 5% in the adverse scenario and [...]
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Posted on May 10th, 2012
This consultative document sets out a revised market risk framework and proposes a number of specific measures to improve trading book capital requirements. These proposals reflect the Committee’s increased focus on achieving a regulatory framework that can be implemented consistently by supervisors and which achieves comparable levels of capital across jurisdictions.
Key elements of [...]
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191 pages