EIOPA published updated technical documentation for calculating the risk-free interest rate term structures (RFR) used in technical provisions for (re)insurance obligations.
Overview of changes and their nature is provided in technical documents, focuses on assessment of currencies and financial instruments used to construct RFR information.
From Jan, 1, 2025 onwards, EIOPA will cease the publication of technical information for 11 non-EEA currencies: Brazilian real (BRL), Chilean peso (CLP), Indian rupee (INR), South Korean won (KRW), Malaysian ringgit (MYR), Mexican peso (MXN),
New Zealand dollar (NZD), Singapore dollar (SGD), South African rand (ZAR), Thai baht (THB) and Turkish lira (TRY); based on assessment under RFR technical documentation are not included in list of material currencies for EU-insurance sector.
Effectiveness
New date for the updated technical documentation to be applicable is Jan. 1, 2025.
First calculation based on the updated documentation will be end of Jan. 2025.
Until the end of 2024 the current version of technical RFR documentation applies.
