Ireland:
Central Bank Publishes Seven Guidance Notes On Applications For Approval
08 January 2019
Arthur Cox
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Since 27 November, the Central Bank’s Solvency II
Information Notes 1, 3 and 4 on applications for approval of
certain items specified in Article 308a of the Solvency II
Directive have been replaced by the seven pieces of Guidance. The
new pieces are Guidance on Applications for the Approval of:
- Ancillary Own Funds;
- Basic Own Funds & Capital
Contributions;
- Matching Adjustments;
- Volatility Adjustments;
- Transitional Risk Free Interest Rates;
- Transitional Technical Provisions; and
- Undertaking Specific Parameters.
The Guidance contain application checklists and provide
information on the documentary evidence and information that must
be provided to the Central Bank.
This article contains a general summary of developments and
is not a complete or definitive statement of the law. Specific
legal advice should be obtained where appropriate.
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