EIOPA · 1345
1345
- Regulation
- (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
- Article
- 35
- Submitted
- 2017-09-07
- Answered
- 2019-10-08
Question
What, if anything, should be included in the S.34.01.C0070 with regards to the Sectoral minimum capital requirement of a related credit institution in a Solvency 2-group?The question related to whether “sector “minimum capital requirement” is applicable also to credit institutions (i.e. banks)?” We have internally received the following proposed answer from our colleagues in banking supervision. Is this answer a suitable answer to provide undertakings in relation to information required as part of cell C0070 in QRT S.34 (remember that our question for tomorrow relates to the Group template S.23 and information included in QRT S34, for the latter mainly cell C0060)?
Answer
Sectoral minimum capital requirement (to be reported in C0070) of a related credit institution in a Solvency 2-group should be based on Regulation (EU) No 575/2013 but not solely on Article 92 of this act requiring 8 % of the credit institution´s total risk exposure amount.
Point (16) and (19) of preamble of CRR introduce possibility of higher total capital requirement for banks than 8% as stated in Article 92. This is due to specific solutions which might be introduced by the competent or designated authorities of the relevant Member State to address macroprudential or systemic risks recognized by them.
This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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