Compliance reporting

CRR II, VAG, Solva & GroMiKV

The Insurance Supervision Act (VAG), the Capital Requirement Regulation (CRR) and the Solva regulations, as well as the Large Exposures and Million Loan Regulation (GroMiKV), result in extensive specific reporting obligations.

The CRR according to Basel III/IV (Capital Equivalence Ordinance) determines the reporting requirements regarding the capital adequacy of financial institutions and holding groups. The CRR also adopts the individual regulations implemented in the Solvency Regulation (Solva).

The current CRR II regulation has been in force since June 30, 2021. The main two requirements for investment managers to meet CRR II reporting requirements to banks are to provide a strict look-throughof investment funds and independent certification of the reports. If this is not met, the risk weight for opaque funds must increase by a factor of 12.5 making funds potentially unattractive to this group of investors.

what this means for your reporting

When laws and regulations overlap in their scope of application, high demands are placed on the accuracy and transparency of all data and calculations. Solutions must be found that can organise data and generate reports while keeping quality high and time and costs as low as possible.

our solution for acarda für CRR II / VAG / Solva / GroMiKV

Our solution, the acarda Platform includes all components of CRR II -, VAG-, Solva- und GroMiKV-compliant datamanagement and reporting

Data management & report generation

Mapping current requirements of BaFin, EIOPA and BVI
direct integration of data from fund accounting or data warehouse systems or from third-party systems; acceptance of customer-specific formats
Detailed allocation and reporting of asset classifications
Risk weights
Exposure class
Credit quality | ratings
Determination of exposure according to CRR I and CRR II (SA-CCR)
Capital deduction positions (CET-1, AT-1 and TIER-2)
Import and export of Look-Through-Data, target and third-party funds and insurance companies' own investments
secured browser-based data access

maximum reduction of residual value, minimum capital requirements

rule-based classification of fund holdings and direct investments according to VAG investment categories or CRR asset classes; derivation of risk weights
Recording, measurement, weighting and display of loans in the GroMiKV area
Optimisation of rating allocation, traceability through report overview and plausibility checks
Integration of external stocks, target funds via stock data, VAG data sheets and data providers (WM and Morningstar)

regulatory correctness

complete traceability of all data and calculations
Quality check of the data through consistency and plausibility checks
quick plausibility checks for inquiries from insurance and bank customers
Proof of regulatory correctness through corresponding reports for KAG and investors
Certification of necessary reports (CRR) by BDO or with your auditors with regard to CRR II Article 132 et seq.
Consideration of regulatory requirements and interpretations

optimal display

greatest possible reduction of residual values using a multi-stage classification process
optimised rating allocation through agency ratings for securities and issuers and qualified internal ratings
maximum transparency of target funds (multi-level view)
Proof of optimal designation within the regulatory framework

what’s special about the acarda solution

Using a single integrated platform for data management, to calculate risks and costs and to create and distribute reports increases the efficiency of all processes.
The modular acarda platform-system can be used immediately. It is operated in our certified data center in Luxembourg and does not require any additional IT infrastructure thanks to the browser-based user interface and a central Oracle database.
Throughout the reporting process you will have access to extensive support and consulting services.
Rapid implementation and a comprehensive support service ensure all regulatory and client-specific requirements are met.
Highly automated data management and report creation reduce the time and money you have to invest.
The web-based acarda dashboard guarantees full transparency over the entire reporting process.
With regard to CRR II, your auditor can obtain access to the data basis on the acarda platform with a separate authorisation.
By choosing our optional Business Service you could outsource the entire process to acarda.
Service Level Agreement: How our Software as a Service works can be configured according to your needs. You pay only for the service you use and on the basis of a contractual agreement.