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Legalize / European Union / Implementing Regulation

Commission Implementing Regulation (EU) 2025/863 of 8 May 2025 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 March 2025 until 29 June 2025 in accordance with Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance

Type Implementing Regulation
Publication 2025-05-12
State In force
Text As published
Department European Commission, FISMA
Source EUR-Lex
articles 2

This is the act as published. Later amendments are not folded into the text below: each one is a separate act in this repository and an entry in this law's history.

Reform history JSON API
Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 84 97 119 183 297 566 1 315
2 90 103 125 189 302 572 1 074
3 94 108 129 187 301 571 887
4 96 111 132 190 301 571 742
5 99 115 139 195 303 573 628
6 102 119 144 201 305 574 574
7 104 122 147 205 305 575 575
8 105 124 148 205 307 577 577
9 106 126 149 205 308 578 578
10 107 127 150 206 308 578 578
11 108 128 150 206 308 578 578
12 107 128 149 205 307 577 577
13 107 127 148 204 306 576 576
14 105 126 147 202 305 575 575
15 104 125 145 201 303 573 573
16 103 123 144 200 302 572 572
17 101 122 143 198 301 570 570
18 100 121 141 197 299 569 569
19 98 119 140 195 298 568 568
20 97 118 138 194 296 566 566
21 95 116 137 192 295 565 565
22 94 115 135 191 293 563 563
23 92 113 133 189 291 561 561
24 90 111 132 187 290 559 559
25 88 109 130 185 288 558 558
26 87 107 128 184 286 556 556
27 85 106 126 182 284 554 554
28 83 104 125 180 283 552 552
29 82 102 123 179 281 551 551
30 80 101 121 177 279 549 549

2.16.   Hong Kong dollar

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 13 26 47 112 225 495 1 208
2 15 28 50 114 228 497 979
3 19 33 54 112 226 496 803
4 21 36 58 115 227 497 668
5 24 40 63 120 227 497 563
6 25 42 67 124 228 498 498
7 26 44 69 127 228 498 498
8 27 45 70 126 228 498 498
9 27 46 69 126 228 498 498
10 27 47 70 125 228 498 498
11 28 48 70 125 228 498 498
12 28 48 70 125 227 497 497
13 27 48 69 125 227 497 497
14 27 48 68 124 226 496 496
15 27 47 68 124 226 496 496
16 26 47 67 123 225 495 495
17 26 47 67 123 225 495 495
18 26 46 67 123 225 495 495
19 26 46 67 123 225 495 495
20 26 47 67 123 225 495 495
21 26 47 67 123 225 495 495
22 26 47 67 123 225 495 495
23 26 47 67 123 225 495 495
24 26 46 67 123 225 495 495
25 26 46 67 122 225 495 495
26 25 46 67 122 225 494 494
27 26 46 66 122 224 494 494
28 27 46 66 122 224 494 494
29 28 45 66 122 224 494 494
30 28 45 66 121 224 494 494

2.17.   New Taiwan dollar

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 0 9 31 95 209 479 1 166
2 1 10 31 96 209 479 948
3 2 12 33 91 206 476 779
4 4 14 36 93 205 474 648
5 4 16 40 96 204 474 546
6 6 17 43 100 203 473 473
7 7 19 44 102 203 472 472
8 8 19 43 100 202 472 472
9 10 19 42 99 201 471 471
10 10 19 42 98 201 470 470
11 11 20 42 98 200 470 470
12 12 21 43 98 200 470 470
13 13 22 43 98 201 471 471
14 14 22 43 99 201 471 471
15 15 23 43 99 201 471 471
16 16 23 44 99 202 471 471
17 17 24 44 100 202 472 472
18 17 24 45 101 203 473 473
19 18 25 46 101 204 474 474
20 19 26 47 102 205 474 474
21 20 27 47 103 205 475 475
22 22 28 48 104 206 476 476
23 23 28 49 104 207 476 476
24 23 29 49 105 207 477 477
25 24 29 50 105 207 477 477
26 25 29 50 105 208 478 478
27 26 30 50 106 208 478 478
28 26 30 50 106 208 478 478
29 27 30 51 106 209 478 478
30 28 30 51 106 209 479 479

2.18.   Renminbi-yuan

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 28 41 63 127 240 510 1 172
2 29 42 64 128 242 511 952
3 31 45 66 124 239 508 782
4 33 48 69 127 238 508 650
5 34 50 74 130 238 508 548
6 35 51 77 134 237 507 507
7 35 53 78 136 237 507 507
8 34 53 77 134 236 506 506
9 34 53 77 133 235 505 505
10 34 53 76 132 235 504 504
11 34 54 76 132 234 504 504
12 34 54 76 131 234 503 503
13 34 54 75 131 233 503 503
14 34 54 75 131 233 503 503
15 34 54 75 130 233 503 503
16 34 54 75 131 233 503 503
17 34 54 75 131 233 503 503
18 34 55 75 131 233 503 503
19 34 55 75 131 233 503 503
20 34 55 76 131 234 504 504
21 34 55 76 131 234 504 504
22 34 55 76 131 234 504 504
23 34 55 76 131 234 503 503
24 34 55 75 131 233 503 503
25 34 55 75 131 233 503 503
26 34 54 75 131 233 503 503
27 33 54 75 130 233 502 502
28 33 54 74 130 232 502 502
29 33 53 74 130 232 502 502
30 32 53 74 129 232 502 502

2.19.   US dollar

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 7 24 46 96 230 500 1 220
2 7 24 46 96 230 500 989
3 9 28 49 93 228 498 811
4 12 33 53 92 228 498 675
5 16 38 58 95 229 499 568
6 18 41 62 93 229 499 499
7 19 44 62 89 229 499 499
8 18 43 62 88 230 499 499
9 19 44 64 91 229 499 499
10 21 47 66 95 229 499 499
11 23 50 68 97 229 499 499
12 24 52 69 98 229 499 499
13 26 54 70 98 229 499 499
14 26 54 70 98 229 499 499
15 26 55 70 98 229 499 499
16 26 55 70 98 229 499 499
17 26 55 70 98 229 499 499
18 26 55 70 98 229 499 499
19 26 55 70 98 229 499 499
20 26 55 70 98 229 499 499
21 26 55 70 98 230 499 499
22 26 55 70 98 230 499 499
23 26 55 70 98 229 499 499
24 26 55 70 98 229 499 499
25 26 55 70 98 229 499 499
26 26 55 70 98 229 498 498
27 26 55 70 98 228 498 498
28 27 55 70 98 228 498 498
29 28 55 70 98 228 497 497
30 29 55 70 98 227 497 497

2.20.   Yen

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 0 4 12 76 190 459 1 160
2 1 5 11 75 189 458 945
3 2 5 12 70 185 454 777
4 4 6 14 72 183 453 646
5 4 7 18 74 182 452 545
6 6 7 21 78 182 452 465
7 7 8 23 81 182 452 452
8 8 8 23 80 182 451 451
9 9 9 23 79 182 451 451
10 10 11 24 79 182 452 452
11 11 11 24 80 182 452 452
12 12 12 24 80 182 452 452
13 13 13 24 80 182 452 452
14 14 13 25 80 183 452 452
15 15 14 25 81 183 453 453
16 16 14 25 81 183 453 453
17 17 16 26 81 184 454 454
18 17 16 26 82 184 454 454
19 18 17 27 82 185 455 455
20 19 18 29 83 185 455 455
21 20 18 29 83 186 456 456
22 22 19 30 84 186 456 456
23 23 19 31 84 186 456 456
24 23 21 32 84 186 456 456
25 24 22 33 84 186 456 456
26 25 22 34 84 186 456 456
27 26 23 35 84 186 456 456
28 26 23 37 84 186 456 456
29 27 24 38 84 186 456 456
30 28 25 39 84 186 456 456

3. Other exposures

3.1.   Euro

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 1 13 20 40 152 294 3 121
2 1 13 20 40 152 336 2 342
3 1 14 22 45 148 352 1 778
4 1 15 25 49 146 353 1 379
5 2 17 28 51 146 345 1 094
6 4 20 30 54 146 333 888
7 6 22 32 56 146 317 734
8 6 23 34 58 146 301 617
9 6 24 35 61 146 284 525
10 7 25 37 63 146 267 451
11 7 25 37 64 146 251 392
12 7 26 38 64 146 237 343
13 7 26 38 64 146 237 301
14 7 26 38 64 146 237 267
15 7 26 39 64 146 237 237
16 7 26 41 64 146 237 237
17 7 26 44 64 146 237 237
18 7 26 46 64 146 237 237
19 7 26 49 64 146 237 237
20 8 26 50 64 146 237 237
21 8 26 53 64 146 237 237
22 9 26 56 64 146 237 237
23 9 26 58 64 146 237 237
24 9 26 61 64 146 237 237
25 10 26 62 64 146 237 237
26 10 26 65 64 146 237 237
27 10 26 67 66 146 237 237
28 11 26 69 68 146 237 237
29 11 26 72 70 146 237 237
30 12 27 74 72 146 237 237

3.2.   Czech koruna

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 15 27 33 53 166 300 3 187
2 15 28 34 54 167 342 2 391
3 15 28 36 59 162 358 1 815
4 15 29 39 62 159 359 1 407
5 15 30 41 64 159 351 1 116
6 16 32 42 66 158 339 905
7 17 33 44 67 157 323 748
8 16 34 44 69 156 306 628
9 16 34 45 71 156 289 535
10 16 34 46 72 155 272 460
11 16 34 46 72 155 256 399
12 16 34 46 72 154 245 349
13 15 33 45 71 154 245 307
14 15 33 45 71 153 244 272
15 14 33 45 71 153 244 244
16 14 32 44 70 152 243 243
17 14 32 45 70 152 243 243
18 14 32 46 70 152 243 243
19 14 32 49 70 153 244 244
20 14 33 52 71 153 244 244
21 15 33 54 71 153 244 244
22 15 33 57 71 153 244 244
23 15 33 58 71 153 244 244
24 15 33 61 71 153 244 244
25 15 33 63 71 153 244 244
26 15 33 66 71 153 244 244
27 14 33 68 71 153 244 244
28 14 33 71 71 153 244 244
29 14 33 73 71 153 244 244
30 14 32 76 73 153 244 244

3.3.   Danish krone

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 1 13 20 40 152 294 3 120
2 1 13 20 40 152 336 2 341
3 1 14 22 45 148 352 1 778
4 1 15 25 49 146 353 1 378
5 2 17 28 51 146 345 1 094
6 4 19 30 54 146 333 888
7 5 22 32 56 146 317 734
8 6 23 33 58 146 301 617
9 6 24 35 61 146 284 525
10 7 25 37 63 146 267 451
11 7 25 37 63 146 251 392
12 7 25 37 64 146 237 342
13 7 25 37 64 146 237 301
14 7 25 37 64 146 237 267
15 7 25 39 64 146 237 237
16 7 25 41 64 146 237 237
17 7 25 44 64 146 237 237
18 7 25 46 64 146 237 237
19 7 25 49 64 146 237 237
20 8 25 50 64 146 237 237
21 8 25 53 64 146 237 237
22 9 25 56 64 146 237 237
23 9 25 58 64 146 237 237
24 9 25 61 64 146 237 237
25 10 25 62 64 146 237 237
26 10 25 65 64 146 237 237
27 10 25 67 66 146 237 237
28 11 25 69 68 146 237 237
29 11 26 72 70 146 237 237
30 12 27 74 72 146 237 237

3.4.   Forint

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 73 86 92 112 225 317 3 337
2 71 83 89 109 222 358 2 515
3 73 86 94 116 220 376 1 913
4 71 85 95 118 216 378 1 484
5 70 85 96 119 214 370 1 178
6 70 86 97 120 212 357 956
7 70 87 97 121 211 340 790
8 70 87 97 122 210 323 663
9 69 87 98 124 209 305 564
10 67 85 97 123 206 297 485
11 65 83 95 121 204 295 420
12 64 82 94 120 203 294 367
13 63 82 94 120 202 293 323
14 63 81 93 119 202 293 293
15 63 81 93 119 201 293 293
16 62 81 93 119 201 292 292
17 62 81 93 119 201 292 292
18 62 80 92 118 200 291 291
19 61 79 91 118 200 291 291
20 61 79 91 117 199 290 290
21 60 78 90 116 199 290 290
22 59 78 90 116 198 289 289
23 58 77 89 115 197 288 288
24 57 76 88 114 196 287 287
25 56 75 87 113 195 286 286
26 55 74 86 112 194 285 285
27 54 73 85 111 193 284 284
28 53 71 84 110 192 283 283
29 52 70 82 109 191 282 282
30 51 69 81 108 190 281 281

3.5.   Krona

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 5 17 24 44 156 295 3 129
2 6 19 25 45 158 337 2 351
3 7 20 28 51 154 353 1 785
4 8 22 32 55 153 354 1 384
5 9 24 35 58 153 346 1 098
6 11 26 37 61 153 334 891
7 12 29 39 63 152 318 737
8 12 29 40 64 152 302 619
9 12 30 41 67 152 285 527
10 12 30 42 68 151 268 453
11 13 31 43 69 151 252 393
12 13 31 43 69 151 242 344
13 13 31 43 69 152 243 303
14 13 31 43 69 152 243 268
15 13 32 44 70 152 243 243
16 13 32 44 70 152 243 243
17 14 32 44 70 152 243 243
18 14 32 46 70 152 243 243
19 14 32 49 71 153 244 244
20 15 33 52 71 153 244 244
21 15 33 53 71 154 245 245
22 15 34 56 72 154 245 245
23 15 34 58 72 154 245 245
24 16 34 61 72 154 245 245
25 16 34 63 72 154 245 245
26 15 34 66 72 154 245 245
27 15 34 68 72 154 245 245
28 15 34 71 72 154 245 245
29 15 34 73 72 154 245 245
30 15 33 75 72 154 245 245

3.6.   Lev

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 0 12 19 39 151 294 3 118
2 0 12 19 39 151 336 2 340
3 1 13 21 44 147 352 1 776
4 1 14 24 48 145 353 1 378
5 2 16 27 50 145 345 1 094
6 3 19 30 53 145 332 887
7 5 21 31 55 145 317 734
8 5 22 33 57 145 301 616
9 5 23 34 60 145 284 524
10 6 24 36 62 145 267 451
11 6 24 37 63 145 251 391
12 6 25 37 63 145 236 342
13 6 25 37 63 145 236 301
14 6 25 37 63 145 236 267
15 6 25 39 63 145 236 237
16 6 25 41 63 145 236 236
17 6 25 44 63 145 236 236
18 6 25 46 63 145 236 236
19 7 25 49 63 145 236 236
20 8 25 50 63 145 236 236
21 8 25 53 63 145 236 236
22 9 25 56 63 145 236 236
23 9 25 58 63 145 236 236
24 9 25 61 63 145 236 236
25 10 25 62 63 145 236 236
26 10 25 65 64 145 236 236
27 10 25 67 66 145 236 236
28 11 25 69 68 145 236 236
29 11 26 72 70 145 236 236
30 12 27 74 72 145 236 236

3.7.   Pound sterling

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 0 10 21 44 171 303 3 225
2 0 10 21 44 171 346 2 418
3 1 11 23 48 167 362 1 834
4 1 13 26 54 164 362 1 421
5 1 16 29 57 163 354 1 127
6 2 19 33 59 162 341 914
7 4 22 37 60 160 326 755
8 6 25 38 60 159 309 634
9 9 31 42 59 159 291 539
10 11 34 43 59 158 274 464
11 11 33 43 58 157 258 402
12 10 32 43 59 156 247 352
13 9 32 43 59 156 247 310
14 9 32 44 60 155 246 274
15 9 32 44 60 154 245 245
16 9 32 44 60 153 244 244
17 9 32 45 60 152 243 243
18 9 32 48 60 152 243 243
19 9 32 50 60 152 243 243
20 9 32 52 60 152 243 243
21 9 32 54 60 152 243 243
22 9 32 57 60 152 243 243
23 9 32 60 61 151 243 243
24 9 32 62 62 151 242 242
25 10 32 65 64 150 241 241
26 10 32 67 66 150 241 241
27 11 32 70 68 149 240 240
28 11 32 72 70 149 240 240
29 11 32 74 72 148 239 239
30 12 32 77 74 148 239 239

3.8.   Romanian leu

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 77 89 95 115 228 320 3 348
2 76 88 95 115 227 359 2 523
3 75 88 96 119 222 377 1 919
4 74 88 98 122 219 379 1 489
5 74 88 99 122 217 371 1 182
6 74 89 100 124 216 358 959
7 74 90 100 124 214 341 793
8 72 89 100 125 212 324 665
9 71 89 100 125 211 306 566
10 70 88 100 126 209 300 486
11 69 87 99 126 208 299 422
12 68 86 98 124 207 298 368
13 67 85 97 123 205 296 324
14 65 84 96 122 204 295 295
15 64 82 94 120 203 294 294
16 63 81 93 119 202 293 293
17 62 80 92 118 201 292 292
18 61 79 92 118 200 291 291
19 60 79 91 117 199 290 290
20 59 78 90 116 198 289 289
21 59 77 89 115 197 288 288
22 57 76 88 114 196 287 287
23 56 75 87 113 195 286 286
24 55 74 86 112 194 285 285
25 54 72 84 110 193 284 284
26 53 71 83 109 192 283 283
27 52 70 82 108 190 281 281
28 51 69 81 107 189 280 280
29 50 68 80 106 188 279 279
30 49 67 79 105 187 278 278

3.9.   Zloty

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 50 62 69 89 201 306 3 257
2 50 62 69 89 201 350 2 450
3 50 63 71 94 197 367 1 862
4 50 63 73 97 194 368 1 444
5 50 64 75 98 193 361 1 147
6 50 65 76 100 192 348 931
7 50 67 77 101 191 332 770
8 49 67 77 102 189 315 646
9 49 66 78 103 188 297 550
10 48 66 78 104 187 280 473
11 48 66 78 104 186 278 411
12 47 65 77 104 186 277 359
13 46 65 77 103 185 276 316
14 46 64 76 102 185 276 279
15 45 64 76 102 184 275 275
16 45 63 75 101 183 274 274
17 44 62 74 101 183 274 274
18 44 62 74 100 182 273 273
19 43 62 74 100 182 273 273
20 43 61 73 99 182 273 273
21 43 61 73 99 181 272 272
22 42 61 73 99 181 272 272
23 42 60 72 98 180 271 271
24 41 59 71 97 180 271 271
25 40 59 71 97 179 270 270
26 40 58 70 96 178 269 269
27 39 57 70 95 177 268 268
28 38 56 72 94 177 268 268
29 37 56 75 94 176 267 267
30 37 55 78 93 175 266 266

3.10.   Króna

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 86 98 105 125 237 330 3 422
2 86 98 104 125 237 364 2 560
3 84 97 105 128 231 380 1 937
4 83 96 106 130 227 379 1 496
5 83 97 108 131 226 370 1 184
6 83 99 110 133 225 356 958
7 84 101 111 135 225 339 790
8 84 102 112 137 225 321 663
9 85 102 114 139 224 315 563
10 85 103 115 141 224 315 483
11 85 103 115 141 224 315 419
12 84 102 115 141 223 314 366
13 83 101 114 140 222 313 321
14 82 100 112 138 221 312 312
15 81 99 111 137 220 311 311
16 80 98 110 136 218 309 309
17 79 97 109 135 217 308 308
18 78 96 108 134 216 307 307
19 77 95 107 133 215 306 306
20 76 94 106 132 214 305 305
21 74 93 105 131 213 304 304
22 73 91 104 130 212 303 303
23 72 90 102 128 210 301 301
24 70 89 101 127 209 300 300
25 69 87 99 125 207 298 298
26 67 86 98 124 206 297 297
27 66 84 96 122 204 295 295
28 64 83 95 121 203 294 294
29 63 81 93 119 202 293 293
30 61 80 92 118 200 291 291

3.11.   Norwegian krone

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 26 38 44 64 177 304 3 234
2 26 39 45 65 178 347 2 428
3 26 39 47 69 173 363 1 840
4 25 39 49 73 170 363 1 424
5 25 40 51 74 169 355 1 129
6 26 42 53 76 168 341 915
7 27 43 54 77 167 326 756
8 26 44 54 79 167 308 634
9 26 44 55 81 166 291 539
10 26 44 56 82 165 274 463
11 26 44 56 82 165 257 402
12 25 44 56 82 164 255 351
13 25 43 55 81 163 254 309
14 24 43 55 81 163 254 273
15 24 42 54 80 162 253 253
16 23 41 54 80 162 253 253
17 23 41 53 79 162 253 253
18 23 41 53 79 161 252 252
19 23 41 53 79 161 252 252
20 23 41 53 79 161 252 252
21 23 41 54 79 161 252 252
22 23 41 57 79 161 252 252
23 23 41 59 79 161 252 252
24 22 41 61 79 161 252 252
25 22 40 63 79 161 252 252
26 22 40 66 78 160 251 251
27 22 40 68 78 160 251 251
28 21 40 71 78 160 251 251
29 21 39 73 77 160 251 251
30 21 39 76 77 159 250 250

3.12.   Swiss franc

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 0 0 4 21 133 286 3 019
2 0 1 6 21 134 326 2 265
3 1 1 8 27 130 341 1 720
4 1 3 11 31 128 342 1 334
5 1 4 13 33 128 335 1 059
6 2 4 16 36 128 323 859
7 2 5 19 38 128 308 711
8 2 7 21 41 128 292 597
9 3 7 24 43 128 276 508
10 4 9 26 45 128 259 437
11 4 9 28 47 129 244 380
12 4 10 31 46 128 229 332
13 4 11 33 46 129 220 292
14 5 12 35 46 128 220 259
15 6 13 38 45 128 219 230
16 6 14 41 45 127 218 218
17 6 15 42 46 127 218 218
18 6 15 45 49 127 218 218
19 7 17 47 50 127 218 218
20 7 17 49 53 128 219 219
21 7 19 52 54 128 219 219
22 9 19 54 56 128 219 219
23 9 20 57 57 128 219 219
24 9 21 59 60 128 219 219
25 10 22 61 62 128 219 219
26 10 23 63 63 129 219 219
27 10 24 66 65 130 219 219
28 11 24 68 67 131 219 219
29 11 25 70 69 132 219 219
30 11 26 73 70 134 219 219

3.13.   Australian dollar

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 38 50 56 76 189 302 3 210
2 38 50 57 77 189 344 2 407
3 38 51 59 82 185 360 1 826
4 37 51 61 85 182 361 1 415
5 38 52 64 86 181 353 1 123
6 39 54 65 89 181 341 911
7 40 56 66 90 180 325 754
8 39 56 67 92 179 308 633
9 39 57 68 94 179 291 539
10 39 57 69 95 178 274 463
11 38 57 69 95 177 268 402
12 38 56 68 95 177 268 352
13 38 56 68 94 176 267 310
14 37 55 67 93 176 267 274
15 37 55 67 93 175 266 266
16 36 54 66 92 175 266 266
17 36 54 66 92 174 265 265
18 35 54 66 92 174 265 265
19 35 53 65 91 173 264 264
20 35 53 65 91 173 264 264
21 34 53 65 91 173 264 264
22 34 52 64 90 172 264 264
23 33 52 64 90 172 263 263
24 33 51 63 89 171 262 262
25 32 50 65 88 171 262 262
26 31 49 67 88 170 261 261
27 30 49 70 87 169 260 260
28 30 48 72 86 168 259 259
29 29 47 74 85 167 258 258
30 28 46 77 85 167 258 258

3.14.   Canadian dollar

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 14 26 32 53 165 296 3 135
2 15 27 33 53 166 337 2 352
3 15 28 36 59 162 353 1 784
4 16 29 39 63 160 354 1 383
5 17 31 42 65 160 346 1 097
6 18 34 44 68 160 333 890
7 19 36 46 70 160 318 736
8 20 37 48 72 160 302 618
9 20 38 49 75 160 285 526
10 21 39 51 77 160 268 453
11 21 39 51 78 160 252 393
12 21 40 52 78 160 251 344
13 21 40 52 78 160 251 302
14 21 40 52 78 160 251 268
15 21 40 52 78 160 251 251
16 21 40 52 78 160 251 251
17 21 40 52 78 160 251 251
18 21 40 52 78 160 251 251
19 21 40 52 78 160 251 251
20 21 40 52 78 160 251 251
21 21 40 53 78 160 251 251
22 21 39 56 77 160 251 251
23 21 39 58 77 159 250 250
24 20 38 61 76 159 250 250
25 20 38 63 76 158 249 249
26 19 37 66 76 158 249 249
27 19 37 67 75 157 248 248
28 18 37 70 75 157 248 248
29 18 36 73 74 156 247 247
30 17 36 75 74 156 247 247

3.15.   Colombian peso

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 80 92 98 118 231 325 3 481
2 85 97 104 124 236 373 2 630
3 87 100 108 131 234 393 2 007
4 88 102 112 136 233 396 1 562
5 92 106 117 140 235 389 1 244
6 95 110 121 145 236 377 1 012
7 97 114 124 147 237 361 839
8 99 116 126 151 239 344 706
9 100 118 129 155 240 331 602
10 101 119 131 157 240 331 519
11 101 119 131 157 240 331 450
12 100 119 131 157 239 330 394
13 99 118 130 156 238 329 347
14 98 116 128 154 237 328 328
15 97 115 127 153 235 326 326
16 95 114 126 152 234 325 325
17 94 112 124 150 232 323 323
18 92 111 123 149 231 322 322
19 91 109 121 147 230 321 321
20 90 108 120 146 228 319 319
21 88 106 118 144 227 318 318
22 86 105 117 143 225 316 316
23 85 103 115 141 223 314 314
24 83 101 113 139 221 313 313
25 81 99 111 137 220 311 311
26 79 98 110 136 218 309 309
27 78 96 108 134 216 307 307
28 76 94 106 132 214 305 305
29 74 92 105 131 213 304 304
30 73 91 103 129 211 302 302

3.16.   Hong Kong dollar

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 8 20 27 47 159 300 3 180
2 11 23 29 49 162 341 2 382
3 12 25 34 56 159 357 1 805
4 14 28 38 61 159 357 1 398
5 16 31 42 65 159 349 1 109
6 18 33 44 68 160 336 899
7 20 36 46 70 160 320 743
8 20 37 48 72 160 304 624
9 20 38 49 75 160 287 531
10 21 39 51 77 160 270 456
11 21 39 51 77 160 253 396
12 21 39 51 77 159 250 346
13 20 39 51 77 159 250 305
14 20 38 50 76 158 249 270
15 19 38 50 76 158 249 249
16 19 37 49 75 157 248 248
17 18 37 49 75 157 248 248
18 18 37 49 75 157 248 248
19 18 37 49 75 157 248 248
20 18 37 52 75 157 248 248
21 19 37 53 75 157 248 248
22 19 37 56 75 157 248 248
23 18 37 58 75 157 248 248
24 18 37 61 75 157 248 248
25 18 36 63 75 157 248 248
26 18 36 66 74 157 248 248
27 18 36 68 74 156 247 247
28 17 36 71 74 156 247 247
29 17 36 73 74 156 247 247
30 17 35 75 73 156 247 247

3.17.   New Taiwan dollar

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 0 4 10 31 143 289 3 063
2 0 4 11 31 143 331 2 300
3 1 5 13 36 139 346 1 746
4 1 5 15 39 136 347 1 354
5 1 7 18 41 136 339 1 074
6 2 9 20 43 135 327 871
7 2 11 21 45 134 312 720
8 2 11 21 46 134 295 605
9 3 11 24 48 133 279 515
10 4 11 27 49 132 262 443
11 4 12 29 50 132 246 384
12 4 12 31 50 132 231 336
13 5 12 34 50 133 224 296
14 5 13 36 51 133 224 262
15 6 13 38 51 133 224 233
16 6 14 41 51 134 225 225
17 6 15 43 52 134 225 225
18 6 15 45 53 135 226 226
19 7 17 48 53 136 227 227
20 7 17 50 54 136 228 228
21 8 19 53 55 137 228 228
22 9 19 54 57 138 229 229
23 9 20 57 58 139 230 230
24 9 21 59 60 139 230 230
25 10 22 62 62 139 230 230
26 10 23 64 64 140 231 231
27 10 24 67 66 140 231 231
28 11 25 69 67 140 231 231
29 11 26 72 69 140 231 231
30 11 27 74 71 141 232 232

3.18.   Renminbi-yuan

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 23 35 42 62 174 291 3 081
2 24 37 43 63 176 332 2 311
3 25 38 46 69 172 347 1 753
4 25 39 49 73 170 348 1 358
5 26 41 52 75 170 340 1 077
6 27 43 54 77 169 327 874
7 28 45 55 79 169 312 722
8 28 45 55 80 168 296 606
9 27 45 56 82 167 279 516
10 27 45 57 83 166 263 444
11 27 45 57 84 166 257 385
12 27 45 57 83 166 257 337
13 27 45 57 83 165 256 297
14 26 45 57 83 165 256 263
15 26 44 56 83 165 256 256
16 26 44 57 83 165 256 256
17 26 45 57 83 165 256 256
18 26 45 57 83 165 256 256
19 27 45 57 83 165 256 256
20 27 45 57 83 166 257 257
21 27 45 57 83 166 257 257
22 27 45 57 83 166 257 257
23 27 45 57 83 165 257 257
24 27 45 60 83 165 256 256
25 26 45 62 83 165 256 256
26 26 45 65 83 165 256 256
27 26 44 67 82 165 256 256
28 26 44 69 82 164 255 255
29 25 44 72 82 164 255 255
30 25 43 74 81 164 255 255

3.19.   US dollar

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 0 14 25 49 164 302 3 214
2 0 14 25 49 164 344 2 407
3 1 17 28 54 161 360 1 825
4 2 20 31 59 160 361 1 413
5 3 23 36 65 161 353 1 121
6 6 27 39 67 161 339 909
7 9 31 42 70 161 324 751
8 11 35 46 73 161 307 631
9 13 38 50 76 161 290 536
10 14 40 51 77 161 273 461
11 15 41 53 78 161 256 400
12 16 42 54 79 161 252 350
13 17 44 55 80 161 252 308
14 17 45 55 80 161 252 272
15 18 45 56 80 161 252 252
16 18 45 56 80 161 252 252
17 18 45 56 80 161 252 252
18 18 45 56 80 161 252 252
19 18 45 56 80 161 252 252
20 18 45 56 80 161 252 252
21 18 45 56 80 161 252 252
22 18 45 57 80 161 252 252
23 18 45 58 80 161 252 252
24 18 45 61 80 161 252 252
25 18 45 63 80 161 252 252
26 18 45 66 80 160 252 252
27 18 45 68 80 160 251 251
28 18 45 71 80 160 251 251
29 18 45 73 80 159 250 250
30 18 45 75 80 159 250 250

3.20.   Yen

Duration (in years) Credit quality step 0 Credit quality step 1 Credit quality step 2 Credit quality step 3 Credit quality step 4 Credit quality step 5 Credit quality step 6
1 0 0 4 11 124 288 3 048
2 0 1 6 13 123 329 2 291
3 1 1 8 15 118 345 1 740
4 1 3 11 18 115 346 1 349
5 1 4 13 20 114 338 1 071
6 2 4 16 23 114 326 869
7 2 6 19 26 114 311 719
8 2 7 21 27 114 295 604
9 3 7 24 30 114 278 514
10 4 9 27 32 114 262 442
11 4 9 29 34 114 246 384
12 4 10 31 37 114 231 336
13 5 11 34 39 114 217 296
14 5 12 36 41 114 205 262
15 6 13 38 43 115 206 233
16 6 14 41 45 115 206 208
17 6 15 43 46 116 207 207
18 6 15 45 49 117 207 207
19 7 17 48 50 119 208 208
20 7 17 50 53 121 208 208
21 8 19 53 54 122 209 209
22 9 19 54 57 125 209 209
23 9 20 57 58 126 209 209
24 9 21 59 60 127 209 209
25 10 22 62 62 129 209 209
26 10 23 64 64 130 209 209
27 10 24 67 66 132 209 209
28 11 25 69 67 133 209 209
29 11 26 72 69 134 209 209
30 11 26 74 71 134 209 209

ANNEX III

Volatility adjustment to the relevant risk-free interest rate term structure

Currency National insurance market Volatility adjustment (in bps)
Euro Austria 22
Euro Belgium 22
Euro Croatia 22
Euro Cyprus 22
Euro Estonia 22
Euro Finland 22
Euro France 22
Euro Germany 22
Euro Greece 22
Euro Ireland 22
Euro Italy 22
Euro Latvia 22
Euro Lithuania 22
Euro Luxembourg 22
Euro Malta 22
Euro Netherlands 22
Euro Portugal 22
Euro Slovakia 22
Euro Slovenia 22
Euro Spain 22
Czech koruna Czechia 17
Danish krone Denmark 24
Forint Hungary 9
Krona Sweden 5
Lev Bulgaria 13
Pound sterling United Kingdom 40
Romanian leu Romania 4
Zloty Poland 13
Króna Iceland 46
Norwegian krone Norway 42
Swiss franc Liechtenstein – 4
Swiss franc Switzerland – 4
Australian dollar Australia 28
Canadian dollar Canada 16
Renminbi-yuan China 1
Hong Kong dollar Hong Kong 7
US dollar United States 47
Yen Japan 12

ELI: http://data.europa.eu/eli/reg_impl/2025/863/oj

ISSN 1977-0677 (electronic edition)

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