EIOPA · 2542

Solvency Capital Requirement (SCR)

Name: Solvency Capital Requirement (SCR): EIOPA Q&A — EU Financial Regulatory Q&A
Creator: European Insurance and Occupational Pensions Authority
License: https://creativecommons.org/licenses/by/4.0/

Regulation: (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)
Article: 180
Topic: Solvency Capital Requirement (SCR)
Submitted: 2022-12-12
Answered: 2023-01-05

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Question

Are the Inter-American Investment Corporation, the Black Sea Trade and Development Bank, the Central American Bank for Economic Integration and the CAF-Development Bank of Latin America to be considered as multilateral development banks as stated in article 117 of Regulation (EU) No 575/2013 OR should "paragraph 2" be interpreted strictly in the Delegated Regulation (EU) 2015/35 and therefore these banks are NOT considered.

Background

The Regulation (EU) No 575/2013 article 117 indicates that 4 banks are considered as multilateral development banks similar to the ones mentioned in paragraph 2. The Delegated Regulation (EU) 2015/35 article 180 paragraph 2, c) refers specifically to paragraph 2 of article 117 of Regulation (EU) No 575/2013. This leaves the 4 banks mentioned in paragraph 1 in an inconsistent situation across regulation.

Answer

This question has been rejected because the issue it deals with is already addressed in Article 180(2)(c) of the Delegated Regulation (EU) 2015/35. Article 180(2)(c) DR refers clearly strictly to the “multilateral development banks referred to in paragraph 2 of article 117 of Regulation (EU) No 575/2013”.

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