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PRA publishes PS7/20 on Adjusting for the reduction of loss absorbency where own fund instruments are taxed on conversion under Solvency II

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Published on: 16 March 2020

Published by LNB News

LNB News 16/03/2020

Document Information

Issue Date: 16 March 2020

Published Date: 16 March 2020

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Prudential Regulation Authority (PRA) has published policy statement PS7/20: Solvency II: Adjusting for the reduction of loss absorbency where own fund instruments are taxed on conversion. PS7/20 provides feedback to responses to consultation paper CP26/19: ‘Solvency II: Adjusting for the reduction of loss absorbency where own fund instruments are taxed on conversion’. It also contains the PRA’s final policy in an updated supervisory statement SS3/15: Solvency II: The quality of capital instruments (see appendix).

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