EIOPA published a consultation on the Statement on supervisory practices and expectations in case of breach of the Solvency Capital Requirement (SCR).
EIOPA is gathering feedback on this statement which aims to promote supervisory convergence in the application of the supervisory ladder, in particular addressing the recovery plan required in case of breach of the SCR.
The deadline for submission of feedback is Wednesday 17 February 2021.
EIOPA will consider the feedback received, develop impact assessment and publish a final report on the consultation as well as submit the supervisory statement for adoption by its BoS.
For further information see here.