What changes on 18/01/2015
The text in force from 17/01/2015 compared with the text from 18/01/2015.
0 inserted
360 amended
0 deleted
0 moved
Read the act as of 18/01/2015 · other versions: 01/01/2019 · 08/07/2019 · 01/01/2020 · 30/07/2020 · 15/04/2021 · 02/08/2022 · 14/11/2024 · 30/01/2027
Title I › Chapter I › Section 1
- amended Article 1 - Definitions
- amended Article 2 - Expert judgement
Title I › Chapter I › Section 2
- amended Article 4 - General requirements on the use of credit assessments
- amended Article 5 - Issuers and issue credit assessment
Title I › Chapter II
- amended Article 9 - Valuation methodology — general principles
- amended Article 10 - Valuation methodology — valuation hierarchy
- amended Article 11 - Recognition of contingent liabilities
- amended Article 12 - Valuation methods for goodwill and intangible assets
- amended Article 13 - Valuation methods for related undertakings
- amended Article 14 - Valuation methods for specific liabilities
- amended Article 15 - Deferred taxes
- amended Article 16 - Exclusion of valuation methods
Title I › Chapter III › Section 1
Title I › Chapter III › Section 2
- amended Article 19 - Data used in the calculation of technical provisions
- amended Article 21 - Appropriate use of approximations to calculate the best estimate
Title I › Chapter III › Section 3 › Subsection 1
- amended Article 22 - General provisions
- amended Article 23 - Future management actions
- amended Article 26 - Policyholder behaviour
Title I › Chapter III › Section 3 › Subsection 3
- amended Article 28 - Cash flows
- amended Article 30 - Uncertainty of cash flows
- amended Article 31 - Expenses
- amended Article 32 - Contractual options and financial guarantees
- amended Article 34 - Calculation methods
- amended Article 35 - Homogeneous risk groups of life insurance obligations
- amended Article 36 - Non-life insurance obligations
Title I › Chapter III › Section 3 › Subsection 4
Title I › Chapter III › Section 3 › Subsection 5
Title I › Chapter III › Section 3 › Subsection 6
Title I › Chapter III › Section 4 › Subsection 1
- amended Article 43 - General provisions
Title I › Chapter III › Section 4 › Subsection 2
- amended Article 44 - Relevant financial instruments to derive the basic risk-free interest rates
- amended Article 46 - Extrapolation
- amended Article 47 - Ultimate forward rate
- amended Article 48 - Basic risk-free interest rate term structure of currencies pegged to the euro
Title I › Chapter III › Section 4 › Subsection 3
- amended Article 49 - Reference portfolios
- amended Article 50 - Formula to calculate the spread underlying the volatility adjustment
Title I › Chapter III › Section 4 › Subsection 4
- amended Article 52 - Mortality risk stress
- amended Article 53 - Calculation of the matching adjustment
- amended Article 54 - Calculation of the fundamental spread
Title I › Chapter III › Section 5
- amended Article 55 - Lines of business
Title I › Chapter III › Section 6
- amended Article 56 - Proportionality
- amended Article 57 - Simplified calculation of recoverables from reinsurance contracts and special purpose vehicles
- amended Article 58 - Simplified calculation of the risk margin
- amended Article 60 - Simplified calculation of the best estimate for insurance obligations with premium adjustment mechanism
- amended Article 61 - Simplified calculation of the counterparty default adjustment
Title I › Chapter IV › Section 1 › Subsection 1
- amended Article 62 - Assessment of the application
- amended Article 63 - Assessment of the application — Status of the counterparties
- amended Article 64 - Assessment of the application — Recoverability of the funds
- amended Article 65 - Assessment of the application — Information on the outcome of past calls
- amended Article 66 - Specification of amount relating to an unlimited amount of ancillary own funds
- amended Article 67 - Specification of amount and timing relating to the approval of a method
Title I › Chapter IV › Section 1 › Subsection 2
Title I › Chapter IV › Section 2
- amended Article 69 - Tier 1 — List of own-fund items
- amended Article 70 - Reconciliation Reserve
- amended Article 71 - Tier 1 — Features determining classification
- amended Article 72 - Tier 2 Basic own-funds — List of own-fund items
- amended Article 73 - Tier 2 Basic own-funds — Features determining classification
- amended Article 74 - Tier 2 Ancillary own-funds — List of own-fund items
- amended Article 76 - Tier 3 Basic own-funds– List of own-fund items
- amended Article 77 - Tier 3 Basic own-funds– Features determining classification
- amended Article 79 - Supervisory Authorities approval of the assessment and classification of own-fund items
Title I › Chapter IV › Section 3 › Subsection 1
- amended Article 80 - Ring-fenced funds requiring adjustments
- amended Article 81 - Adjustment for ring-fenced funds and matching adjustment portfolios
Title I › Chapter IV › Section 3 › Subsection 2
Title I › Chapter V › Section 1 › Subsection 1
- amended Article 83
Title I › Chapter V › Section 1 › Subsection 2
- amended Article 84
Title I › Chapter V › Section 1 › Subsection 4
- amended Article 86
Title I › Chapter V › Section 1 › Subsection 5
- amended Article 87
Title I › Chapter V › Section 1 › Subsection 6
- amended Article 88 - Proportionality
- amended Article 89 - General provisions for simplifications for captives
- amended Article 90 - Simplified calculation for captive insurance and reinsurance undertakings of the capital requirement for non-life premium and reserve risk
- amended Article 91 - Simplified calculation of the capital requirement for life mortality risk
- amended Article 92 - Simplified calculation of the capital requirement for life longevity risk
- amended Article 93 - Simplified calculation of the capital requirement for life disability-morbidity risk
- amended Article 94 - Simplified calculation of the capital requirement for life-expense risk
- amended Article 95 - Simplified calculation of the capital requirement for permanent changes in lapse rates
- amended Article 96 - Simplified calculation of the capital requirement for life-catastrophe risk
- amended Article 97 - Simplified calculation of the capital requirement for health mortality risk
- amended Article 98 - Simplified calculation of the capital requirement for health longevity risk
- amended Article 99 - Simplified calculation of the capital requirement for medical expense disability-morbidity risk
- amended Article 100 - Simplified calculation of the capital requirement for income protection disability-morbidity risk
- amended Article 101 - Simplified calculation of the capital requirement for health expense risk
- amended Article 102 - Simplified calculation of the capital requirement for SLT health lapse risk
- amended Article 103 - Simplified calculation of the capital requirement for interest rate risk for captive insurance or reinsurance undertakings
- amended Article 104 - Simplified calculation for spread risk on bonds and loans
- amended Article 106 - Simplified calculation of the capital requirement for market risk concentration for captive insurance or reinsurance undertakings
- amended Article 107 - Simplified calculation of the risk mitigating effect for reinsurance arrangements or securitisation
- amended Article 108 - Simplified calculation of the risk mitigating effect for proportional reinsurance arrangements
- amended Article 109 - Simplified calculations for pooling arrangements
- amended Article 111 - Simplified calculation of the risk mitigating effect
- amended Article 112 - Simplified calculation of the risk adjusted value of collateral to take into account the economic effect of the collateral
Title I › Chapter V › Section 1 › Subsection 7
- amended Article 113
Title I › Chapter V › Section 2
- amended Article 114 - Non-life underwriting risk module
- amended Article 115 - Non-life premium and reserve risk sub-module
- amended Article 116 - Volume measure for non-life premium and reserve risk
- amended Article 117 - Standard deviation for non-life premium and reserve risk
- amended Article 118 - Non-life lapse risk sub-module
- amended Article 119 - Non-life catastrophe risk sub-module
- amended Article 120 - Natural catastrophe risk sub-module
- amended Article 121 - Windstorm risk sub-module
- amended Article 122 - Earthquake risk sub-module
- amended Article 123 - Flood risk sub-module
- amended Article 124 - Hail risk sub-module
- amended Article 125 - Subsidence risk sub-module
- amended Article 126 - Interpretation of catastrophe scenarios
- amended Article 127 - Sub-module for catastrophe risk of non-proportional property reinsurance
- amended Article 128 - Man-made catastrophe risk sub-module
- amended Article 129 - Motor vehicle liability risk sub-module
- amended Article 130 - Marine risk sub-module
- amended Article 131 - Aviation risk sub-module
- amended Article 132 - Fire risk sub-module
- amended Article 133 - Liability risk sub-module
- amended Article 134 - Credit and suretyship risk sub-module
- amended Article 135 - Sub-module for other non-life catastrophe risk
Title I › Chapter V › Section 3
- amended Article 136 - Correlation coefficients
- amended Article 137 - Mortality risk sub-module
- amended Article 138 - Longevity risk sub-module
- amended Article 139 - Disability-morbidity risk sub-module
- amended Article 140 - Life-expense risk sub-module
- amended Article 142 - Lapse risk sub-module
- amended Article 143 - Life-catastrophe risk sub-module
Title I › Chapter V › Section 4
- amended Article 144 - Health underwriting risk module
- amended Article 145 - NSLT health underwriting risk sub-module
- amended Article 146 - NSLT health premium and reserve risk sub-module
- amended Article 147 - Volume measure for NSLT health premium and reserve risk
- amended Article 148 - Standard deviation for NSLT health premium and reserve risk
- amended Article 149 - Health risk equalisation systems
- amended Article 150 - NSLT health lapse risk sub-module
- amended Article 151 - SLT health underwriting risk sub-module
- amended Article 152 - Health mortality risk sub-module
- amended Article 153 - Health longevity risk sub-module
- amended Article 154 - Health disability-morbidity risk sub-module
- amended Article 155 - Capital requirement for medical expense disability-morbidity risk
- amended Article 156 - Capital requirement for income protection disability-morbidity risk
- amended Article 157 - Health expense risk sub-module
- amended Article 159 - SLT health lapse risk sub-module
- amended Article 160 - Health catastrophe risk sub-module
- amended Article 161 - Mass accident risk sub-module
- amended Article 162 - Accident concentration risk sub-module
- amended Article 163 - Pandemic risk sub-module
Title I › Chapter V › Section 5 › Subsection 1
- amended Article 164
Title I › Chapter V › Section 5 › Subsection 2
- amended Article 165 - General provisions
- amended Article 166 - Increase in the term structure of interest rates
- amended Article 167 - Decrease in the term structure of interest rates
Title I › Chapter V › Section 5 › Subsection 3
- amended Article 168 - General provisions
- amended Article 169 - Standard equity risk sub-module
- amended Article 170 - Duration-based equity risk sub-module
- amended Article 171 - Strategic equity investments
- amended Article 172 - Symmetric adjustment of the equity capital charge
Title I › Chapter V › Section 5 › Subsection 5
- amended Article 175 - Scope of the spread risk sub-module
- amended Article 176 - Spread risk on bonds and loans
- amended Article 177 - Spread risk on securitisation positions: general provisions
- amended Article 178 - Spread risk on securitisation positions: calculation of the capital requirement
- amended Article 179 - Spread risk on credit derivatives
- amended Article 180 - Specific exposures
- amended Article 181 - Application of the spread risk scenarios to matching adjustment portfolios
Title I › Chapter V › Section 5 › Subsection 6
- amended Article 182 - Single name exposure
- amended Article 183 - Calculation of the capital requirement for market risk concentration
- amended Article 184 - Excess exposure
- amended Article 185 - Relative excess exposure thresholds
- amended Article 186 - Risk factor for market risk concentration
- amended Article 187 - Specific exposures
Title I › Chapter V › Section 5 › Subsection 7
- amended Article 188
Title I › Chapter V › Section 6 › Subsection 1
- amended Article 189 - Scope
- amended Article 190 - Single name exposures
- amended Article 191 - Mortgage loans
- amended Article 192 - Loss-given-default
- amended Article 193 - Loss-given-default for pool exposures of type A
- amended Article 194 - Loss-given-default for pool exposures of type B
- amended Article 195 - Loss-given-default for pool exposures of type C
- amended Article 196 - Risk-mitigating effect
- amended Article 197 - Risk-adjusted value of collateral
- amended Article 198 - Risk-adjusted value of mortgage
Title I › Chapter V › Section 6 › Subsection 2
- amended Article 199 - Probability of default
- amended Article 200 - Type 1 exposures
- amended Article 201 - Variance of the loss distribution of type 1 exposures
Title I › Chapter V › Section 6 › Subsection 3
- amended Article 202 - Type 2 exposures
Title I › Chapter V › Section 8
- amended Article 204
Title I › Chapter V › Section 9
- amended Article 205 - General provisions
- amended Article 206 - Adjustment for the loss-absorbing capacity of technical provisions
- amended Article 207 - Adjustment for the loss-absorbing capacity of deferred taxes
Title I › Chapter V › Section 10
- amended Article 208 - Methods and Assumptions
- amended Article 209 - Qualitative Criteria
- amended Article 210 - Effective Transfer of Risk
- amended Article 211 - Risk-Mitigation techniques using reinsurance contracts or special purpose vehicles
- amended Article 212 - Financial Risk-Mitigation techniques
- amended Article 213 - Status of the counterparties
- amended Article 214 - Collateral Arrangements
- amended Article 215 - Guarantees
Title I › Chapter V › Section 11
- amended Article 216 - Calculation of the Solvency Capital Requirement in the case of ring-fenced funds and matching adjustment portfolios
- amended Article 217 - Solvency Capital Requirement calculation method for ring-fenced funds and matching adjustment portfolios
Title I › Chapter V › Section 12
- amended Article 218 - Subset of standard parameters that may be replaced by undertaking-specific parameters
- amended Article 219 - Data criteria
- amended Article 220 - Standardised methods to calculate the undertaking-specific parameters
Title I › Chapter V › Section 13
- amended Article 221
Title I › Chapter VI › Section 2
- amended Article 224 - Fit to the business
- amended Article 225 - Understanding of the internal model
- amended Article 226 - Support of decision-making and integration with risk management
- amended Article 227 - Simplified calculation
Title I › Chapter VI › Section 3
- amended Article 228 - Probability distribution forecast
- amended Article 229 - Adequate, applicable and relevant actuarial techniques
- amended Article 230 - Information and assumptions used for the calculation of the probability distribution forecast
- amended Article 231 - Data used in the internal model
- amended Article 232 - Ability to rank risk
- amended Article 233 - Coverage of all material risks
- amended Article 234 - Diversification effects
- amended Article 235 - Risk-mitigation techniques
- amended Article 236 - Future management actions
Title I › Chapter VI › Section 4
- amended Article 238
Title I › Chapter VI › Section 5
- amended Article 239
Title I › Chapter VI › Section 6
- amended Article 240
Title I › Chapter VI › Section 7
- amended Article 241 - Model validation process
- amended Article 242 - Validation tools
Title I › Chapter VI › Section 8
- amended Article 243 - General provisions
- amended Article 244 - Minimum content of the documentation
- amended Article 245 - Circumstances under which the internal model does not work effectively
- amended Article 246 - Changes to the internal model
Title I › Chapter VII
- amended Article 248 - Minimum Capital Requirement
- amended Article 249 - Linear Minimum Capital Requirement
- amended Article 250 - Linear formula component for non-life insurance and reinsurance obligations
- amended Article 251 - Linear formula component for life insurance and reinsurance obligations
- amended Article 252 - Minimum Capital Requirement: composite insurance undertakings
- amended Article 253 - Absolute floor of the Minimum Capital Requirement
Title I › Chapter VIII
- amended Article 254 - Risk retention requirements relating to the originators, sponsors or original lenders
- amended Article 255 - Exemptions to risk retention requirements
- amended Article 256 - Qualitative requirements relating to insurance and reinsurance undertakings
- amended Article 257 - Requirements for investments in securitisation that no longer comply with the risk-retention and qualitative requirements
Title I › Chapter IX › Section 1
- amended Article 258 - General governance requirements
- amended Article 259 - Risk Management System
- amended Article 260 - Risk management areas
- amended Article 261 - Risk management in undertakings providing loans and/or mortgage insurance or reinsurance
- amended Article 262 - Overall solvency needs
- amended Article 263 - Alternative methods for valuation
- amended Article 264 - Valuation of technical provisions — validation
- amended Article 265 - Valuation of technical provisions — documentation
- amended Article 267 - Internal control of valuation of assets and liabilities
Title I › Chapter IX › Section 2
- amended Article 268 - Specific provisions
- amended Article 269 - Risk management function
- amended Article 270 - Compliance function
- amended Article 271 - Internal audit function
- amended Article 272 - Actuarial function
Title I › Chapter IX › Section 3
- amended Article 273
Title I › Chapter IX › Section 4
- amended Article 274
Title I › Chapter IX › Section 5
- amended Article 275
Title I › Chapter X › Section 1
- amended Article 276 - Assessment of a significant deviation as regards the SCR
- amended Article 277 - Assessment of a significant deviation as regards the governance
- amended Article 278 - Assessment of a significant deviation as regards adjustments to the relevant risk-free rate and transitional measures
- amended Article 279 - Add-ons in relation to deviations from Solvency Capital Requirement assumptions
- amended Article 280 - Assessment of the requirement to use an internal model
Title I › Chapter X › Section 2
- amended Article 282 - Calculation of add-ons in relation to deviations from SCR assumptions
- amended Article 283 - Scope and approach of modifications as regards a deviation from SCR assumptions
- amended Article 284 - Calculation of add-ons in relation to adjustments to the relevant risk-free rate or transitional measures
- amended Article 285 - Scope and approach of modifications as regards adjustments to the relevant risk-free rate and transitional measures
- amended Article 286 - Calculation of add-ons in relation to deviations from governance standards
- amended Article 287 - Apportionment of add-ons for undertakings which simultaneously pursue life and non-life insurance activities
Title I › Chapter XI
- amended Article 288 - Assessment of exceptional adverse situations
- amended Article 289 - Factors and criteria to determine the extension of the recovery period
Title I › Chapter XII › Section 1
- amended Article 290 - Structure
- amended Article 292 - Summary
- amended Article 293 - Business and performance
- amended Article 294 - System of governance
- amended Article 295 - Risk profile
- amended Article 296 - Valuation for solvency purposes
- amended Article 297 - Capital management
Title I › Chapter XII › Section 2
- amended Article 299
Title I › Chapter XII › Section 3
- amended Article 300 - Deadlines
- amended Article 301 - Means of disclosure
- amended Article 302 - Updates
Title I › Chapter XIII › Section 1
- amended Article 304 - Elements of the regular supervisory reporting
- amended Article 306 - Own-risk and solvency assessment supervisory report
- amended Article 307 - Business and performance
- amended Article 308 - System of governance
- amended Article 309 - Risk profile
- amended Article 310 - Valuation for solvency purposes
- amended Article 311 - Capital management
Title I › Chapter XIII › Section 2
Title I › Chapter XIV
Title I › Chapter XV › Section 1
- amended Article 318
Title I › Chapter XV › Section 2
- amended Article 320 - Effective transfer of risk
- amended Article 321 - Rights of the providers of debt or financing mechanisms
Title I › Chapter XV › Section 3
- amended Article 322 - Fit and proper requirements of persons who effectively run a special purpose vehicle
- amended Article 323 - Fit and proper requirements for shareholders or members with a qualifying holding
- amended Article 324 - Sound administrative and accounting procedures, adequate internal control mechanisms and risk-management requirements
Title I › Chapter XV › Section 4
Title I › Chapter XV › Section 5
- amended Article 326 - Solvency requirements
- amended Article 327 - Solvency requirements on investments
Title II › Chapter I › Section 1
- amended Article 328 - Choice of method
- amended Article 329 - Treatment of specific related undertakings
- amended Article 330 - Availability at group level of the eligible own funds of related undertakings
Title II › Chapter I › Section 2
- amended Article 331 - Classification of own-fund items of related insurance and reinsurance undertakings at group level
- amended Article 332 - Classification of own-fund items of related third-country insurance or reinsurance undertakings at group level
- amended Article 333 - Classification of own-fund items of insurance holding companies, mixed financial holding companies, and subsidiary ancillary services undertakings at group level
- amended Article 334 - Classification of own-fund items of residual related undertakings
- amended Article 335 - Method 1: determination of consolidated data
- amended Article 336 - Method 1: Calculation of the consolidated group Solvency Capital Requirement
- amended Article 338 - Method 1: group-specific parameters
- amended Article 339 - Method 1: best estimate
- amended Article 340 - Method 1: Risk margin
- amended Article 342 - Method 2: Elimination of intra-group creation of capital in relation to the best estimate
Title II › Chapter II › Section 1
- amended Article 343 - Application for the use of an internal model to calculate only the consolidated group Solvency Capital Requirement
- amended Article 344 - Assessment of the application for the use of an internal model to calculate only the consolidated group Solvency Capital Requirement
- amended Article 345 - Decision on the application and transitional plan to extend the scope of a partial internal model used to calculate only the consolidated group Solvency Capital Requirement
- amended Article 346 - Use test for internal models used to calculate only the consolidated group Solvency Capital Requirement
Title II › Chapter II › Section 2
- amended Article 347 - Application to use a group internal model
- amended Article 348 - Assessment of the completeness of an application to use a group internal model
- amended Article 349 - Joint decision on the application and transitional plan to extend the scope of the model
- amended Article 350 - Use test for group internal models
Title II › Chapter III
- amended Article 351 - Assessment of conditions: criteria
- amended Article 352 - Assessment of conditions: procedures
- amended Article 353 - Assessment of an emergency situation: criteria
Title II › Chapter IV › Section 1
- amended Article 354 - Participation of supervisors of significant branches and related undertakings
- amended Article 355 - Coordination arrangements
- amended Article 356 - Supervisory approval of group-specific parameters
Title II › Chapter IV › Section 2
Title II › Chapter V › Section 1
- amended Article 359 - Structure and contents
- amended Article 360 - Languages
- amended Article 363 - Updates
Title II › Chapter V › Section 2
- amended Article 365 - Structure and contents
- amended Article 366 - Languages
- amended Article 367 - Non-disclosure of information
- amended Article 369 - Updates
- amended Article 370 - Reference
Title II › Chapter VI › Section 1
- amended Article 372 - Elements and contents
- amended Article 375 - Additional transitional information on groups
Title II › Chapter VI › Section 2
- amended Article 376 - Significant risk concentrations (definition, identification and thresholds)
- amended Article 377 - Significant intragroup transactions (definition, identification)
Title III › Chapter I
Title III › Chapter II
Title III › Chapter III
Title III › Chapter IV
- amended Article 381
Outside any heading
- amended Preamble
- amended Annex I
- amended Annex II
- amended Annex III
- amended Annex IV
- amended Annex IX
- amended Annex V
- amended Annex VI
- amended Annex VII
- amended Annex VIII
- amended Annex X
- amended Annex XI
- amended Annex XII
- amended Annex XIII
- amended Annex XIV
- amended Annex XIX
- amended Annex XV
- amended Annex XVI
- amended Annex XVII
- amended Annex XVIII
- amended Annex XX
- amended Annex XXI
- amended Annex XXII
- amended Annex XXIII
- amended Annex XXIV
- amended Annex XXV
- amended Annex XXVI