covered bonds, Solvency II deadline, XBRL reporting, tweets.
Covered bonds favoured by banks and insurers

No delay for Solvency II, according to EIOPA
Solvency II is on schedule according to EIOPA but may require a transitional period. The Telegraph reports on industry concerns that the regulation will not be ready for the 2013 deadline. However, Gabriel Bernadino, chairman of EIOPA, told the Telegraph, “There are still important milestones to come but I don’t think it will be delayed. I think it will be in place by January 2013 but there might be a transitional period after this, which you always need in projects of the size.” The ABI has been critical of the tight implementation deadline. Peter Vipond, Director of Financial Regulation and Taxation, ABI, said: “Regulators have taken too long in negotiating Solvency II, leaving little room at the end for finalisation and implementation.” Speaking of the Solvency II capital adequacy requirements, Mr Vipond cautioned, “Some [regulators] have not learnt the lesson from the financial crisis that long-term businesses, such as insurance, should be able to hold assets and liabilities without having to capitalise them as if they will all be sold at short notice.”XBRL adopted as Solvency II reporting standard
XBRL will be used as the Uniform Format for Solvency II reporting. XBRL International announced on 19 May 2011 that EIOPA has agreed to adopt the Extensible Business Reporting Language (XBRL) format for Solvency II reporting. XBRL is a market-driven, open, and global standard for exchanging business information.
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