EIOPA · 1561
1561
- Regulation
- Risk-Free Interest Rate - General questions
- Article
- 43
- Submitted
- 2018-06-26
- Answered
- 2019-10-24
Question
I have a few of questions regarding the implementation of the ultimate forward rate (UFR).
(1) Q: Does the European Commission or Parliament have to adopt and publish an Implementing Act that approves of the methodology proposed by EIOPA, or is EIOPA’s proposal legally binding?
(2) Q: Does the European Commission or Parliament have to adopt and publish an Implementing Act that formalises the 4.05% for 2018? In other words: is the 4.05% legally binding for 2018?
(3) Q: If Implementing Acts are required, is there a fixed timeline for (when) these Implementing Acts to be published? E.g. the first day after a calendar quarter?
Answer
As the question is of legal nature, we asked the European Commission to provide response with the following result:The answer to all questions is no. Please refer to article 77e(2) of Directive 2009/138/EC (Solvency II).
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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