EU Council cooks up Solvency II volatility balancer revamp
New volatility adjustment proposed as optimism of trilogue agreement grows
European Union member states are edging closer to an agreement on an overhaul of the volatility balancer and other elements of Solvency II's long-term guarantees package ahead of the next round of political discussions on the directive.
The progress comes ahead of the Omnibus II trilogue discussions, which are set to recommence next week, and is raising expectations that an agreement might be reached by the end of the year.
Draft papers currently circulating reveal policy-makers at the Council
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