Technical Findings on the Long-Term Guarantees Assessment on 14 June. The report will now be reviewed by the trilogue parties, and the Commission will draft its own recommendations ahead of the trilogues in July. The first trilogue meeting is set for 10 July, according to an EP source. EIOPA’s main findings and recommendations include, replacing the Counter-Cyclical Premium (CCP) with a Volatility Balancer, a permanent and predictable measure; inclusion of the Classical Matching Adjustment, but not the Extended Matching Adjustment that applies to a wider range of products; introducing Transitionals to smooth the shift from Solvency I for certain long-term business; extending the convergence period of the Extrapolation to the Ultimate Forward Rate (UFR) to as much as 40 years; and limiting to seven years the recovery period for supervisory action for breaching the SCR in cases of exceptional falls in financial markets. It is understood that the Commission is keen to use the report as the basis for moving forward after the fraught trilogue negotiations stalled last autumn following increasing demands for concessions from member states on the treatment of long-term guarantee products. The trilogues were adjourned pending a two month impact assessment by EIOPA, conducted earlier this year. The EIOPA report is the outcome of this assessment.