The PRA has today published a consultation paper (CP) setting out its approach to deep, liquid and transparent (DLT) assessments and the transition of Solvency II technical information (TI) from LIBOR to SONIA in 2021.
The proposals in this CP would result in changes to the PRA Statement of Policy (SoP) ‘The PRAs approach to the publication of Solvency II technical information’.
This CP is relevant to all UK Solvency II firms, including in respect of the Solvency II groups provisions, and to the Society of Lloyd’s and its managing agents. Non-directive firms are out of the scope of this CP.