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Legalize / European Union / Implementing Regulation

Commission Implementing Regulation (EU) 2025/1794 of 8 September 2025 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 June 2025 until 29 September 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 2025-09-09
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 85 98 119 183 296 563 1 292
2 90 103 125 188 302 569 1 066
3 94 108 129 186 301 568 885
4 96 111 133 190 301 568 742
5 100 116 140 195 303 571 628
6 103 119 144 201 304 572 572
7 105 122 147 205 305 573 573
8 106 124 149 205 306 574 574
9 107 126 150 206 307 575 575
10 108 128 151 206 308 576 576
11 109 129 151 206 308 575 575
12 108 129 150 205 307 575 575
13 107 128 149 204 306 573 573
14 106 127 148 203 304 572 572
15 105 126 146 201 303 571 571
16 103 124 145 200 302 569 569
17 102 123 143 198 300 568 568
18 101 121 142 197 299 567 567
19 99 120 141 196 297 565 565
20 98 119 139 194 296 564 564
21 96 117 138 193 294 562 562
22 95 115 136 191 293 560 560
23 93 114 134 189 291 559 559
24 91 112 132 187 289 557 557
25 89 110 130 186 287 555 555
26 87 108 129 184 286 553 553
27 86 106 127 182 284 552 552
28 84 105 125 180 282 550 550
29 82 103 123 179 280 548 548
30 81 101 122 177 279 546 546

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 47 111 224 492 1 188
2 15 28 50 113 227 494 966
3 19 33 53 111 225 493 793
4 21 36 58 115 226 493 660
5 24 40 63 119 226 494 556
6 25 42 67 124 227 495 495
7 27 44 69 126 227 495 495
8 27 45 69 126 227 495 495
9 27 46 69 125 227 495 495
10 27 47 70 125 227 495 495
11 28 48 70 125 227 494 494
12 28 48 69 125 226 494 494
13 27 48 69 124 226 494 494
14 27 48 68 123 225 493 493
15 27 47 68 123 225 493 493
16 26 47 67 122 224 492 492
17 26 47 67 122 224 492 492
18 26 46 67 122 224 492 492
19 26 46 67 122 224 492 492
20 26 47 67 122 224 492 492
21 26 47 67 122 224 492 492
22 26 47 67 122 224 492 492
23 26 47 67 122 224 492 492
24 26 47 67 122 224 492 492
25 26 46 67 122 224 492 492
26 25 46 67 122 224 491 491
27 26 46 66 122 223 491 491
28 27 46 66 121 223 491 491
29 27 45 66 121 223 491 491
30 28 45 66 121 223 490 490

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 94 208 475 1 164
2 1 10 31 95 208 476 946
3 2 12 33 91 205 472 778
4 4 14 36 93 203 471 647
5 4 16 40 95 203 470 545
6 6 17 42 99 202 470 470
7 7 19 44 101 201 469 469
8 8 19 43 100 201 468 468
9 9 19 42 98 200 468 468
10 10 19 42 98 199 467 467
11 11 20 42 98 199 467 467
12 12 21 42 98 199 467 467
13 13 22 43 98 200 467 467
14 14 22 43 98 200 468 468
15 15 23 43 98 200 468 468
16 16 23 44 99 201 468 468
17 17 24 44 99 201 469 469
18 17 24 45 100 202 470 470
19 18 25 46 101 203 470 470
20 19 26 47 102 204 471 471
21 20 27 47 103 204 472 472
22 21 28 48 103 205 473 473
23 23 28 49 104 206 473 473
24 23 29 49 104 206 474 474
25 24 29 49 105 206 474 474
26 25 29 50 105 207 474 474
27 26 30 50 105 207 475 475
28 26 30 50 105 207 475 475
29 27 30 51 106 207 475 475
30 28 30 51 106 208 475 475

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 62 126 239 507 1 169
2 29 42 63 127 240 508 950
3 31 45 66 123 237 505 780
4 32 47 69 126 237 504 649
5 34 50 73 129 236 504 546
6 34 51 76 133 236 504 504
7 35 53 78 135 235 503 503
8 34 53 77 133 234 502 502
9 34 53 76 132 234 501 501
10 34 53 76 131 233 501 501
11 34 54 76 131 233 500 500
12 34 54 75 130 232 500 500
13 34 54 75 130 232 500 500
14 33 54 75 130 232 499 499
15 33 54 75 130 232 499 499
16 33 54 75 130 232 499 499
17 33 54 75 130 232 499 499
18 34 54 75 130 232 500 500
19 34 55 75 130 232 500 500
20 34 55 75 131 232 500 500
21 34 55 76 131 232 500 500
22 34 55 76 131 232 500 500
23 34 55 75 131 232 500 500
24 34 55 75 130 232 500 500
25 34 54 75 130 232 500 500
26 34 54 75 130 232 499 499
27 33 54 74 130 231 499 499
28 33 54 74 129 231 499 499
29 33 53 74 129 231 499 499
30 32 53 74 129 231 498 498

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 96 229 497 1 218
2 7 24 46 96 229 497 986
3 9 28 49 93 227 495 809
4 12 33 53 92 227 495 672
5 16 38 58 95 228 496 567
6 18 41 62 93 228 496 496
7 19 44 62 89 228 496 496
8 18 43 62 88 229 496 496
9 19 45 64 91 228 496 496
10 21 47 66 94 228 496 496
11 23 50 68 97 228 496 496
12 24 52 69 98 228 496 496
13 26 54 70 98 228 496 496
14 26 55 70 98 228 496 496
15 26 55 70 98 228 496 496
16 26 55 70 98 228 496 496
17 26 55 70 98 228 496 496
18 26 55 70 98 228 496 496
19 26 55 70 98 228 496 496
20 26 55 70 98 228 496 496
21 26 55 70 98 229 496 496
22 26 55 70 98 229 496 496
23 26 55 70 98 228 496 496
24 26 55 70 98 228 496 496
25 26 55 70 98 228 496 496
26 26 55 70 98 228 495 495
27 26 55 70 98 227 495 495
28 27 55 70 98 227 495 495
29 28 55 70 98 226 494 494
30 29 55 70 98 226 494 494

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 75 189 456 1 159
2 1 5 11 74 188 455 943
3 2 5 12 69 184 451 775
4 4 6 14 71 182 450 645
5 4 7 18 74 181 449 544
6 6 7 21 78 181 449 464
7 7 8 23 80 181 448 448
8 8 8 23 79 181 448 448
9 9 9 23 79 181 448 448
10 10 11 24 79 181 449 449
11 11 11 24 79 181 449 449
12 12 12 24 79 181 449 449
13 13 13 24 80 181 449 449
14 14 13 25 80 182 449 449
15 15 14 25 80 182 450 450
16 16 14 25 80 182 450 450
17 17 16 26 81 183 450 450
18 17 16 26 81 183 451 451
19 18 17 27 82 184 452 452
20 19 18 29 83 184 452 452
21 20 18 29 83 185 453 453
22 22 19 30 83 185 453 453
23 23 19 31 84 185 453 453
24 23 21 32 84 186 453 453
25 24 22 33 84 186 453 453
26 25 22 34 84 186 453 453
27 26 23 35 84 185 453 453
28 26 23 37 83 185 453 453
29 27 24 38 83 185 453 453
30 28 25 39 83 185 453 453

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 40 152 293 3 109
2 1 13 20 40 152 335 2 334
3 1 14 22 45 147 351 1 772
4 1 15 25 49 145 352 1 375
5 3 17 28 51 145 344 1 091
6 4 20 30 54 145 332 886
7 6 22 32 56 145 317 732
8 6 23 34 58 145 300 615
9 6 24 35 61 145 284 524
10 7 25 37 63 145 267 451
11 7 25 37 63 145 251 391
12 7 26 38 64 145 236 342
13 7 26 38 64 145 236 301
14 7 26 38 64 145 236 267
15 7 26 39 64 145 236 237
16 7 26 41 64 145 236 236
17 7 26 44 64 145 236 236
18 7 26 46 64 145 236 236
19 7 26 49 64 145 236 236
20 8 26 50 64 145 236 236
21 8 26 53 64 145 236 236
22 9 26 56 64 145 236 236
23 9 26 58 64 145 236 236
24 9 26 61 64 145 236 236
25 10 26 62 64 145 236 236
26 10 26 65 65 145 236 236
27 10 26 67 67 145 236 236
28 11 26 69 68 145 236 236
29 11 26 72 70 145 236 236
30 12 27 74 72 145 236 236

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 53 165 300 3 184
2 16 28 34 54 166 343 2 392
3 15 28 36 59 162 359 1 816
4 15 29 39 62 159 360 1 408
5 15 30 41 64 158 352 1 117
6 16 32 43 66 158 339 906
7 17 33 44 67 157 323 749
8 17 34 44 69 156 307 629
9 16 34 45 71 156 289 535
10 16 34 46 72 155 272 460
11 16 34 47 72 154 256 399
12 16 34 46 72 154 245 349
13 15 34 46 71 153 244 307
14 15 33 45 71 153 244 272
15 15 33 45 71 153 243 243
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 33 49 70 152 243 243
20 15 33 52 71 153 243 243
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 15 33 68 71 153 244 244
28 15 33 71 71 153 243 243
29 15 33 73 71 152 243 243
30 14 33 76 73 152 243 243

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 40 151 293 3 108
2 1 13 20 40 151 335 2 333
3 1 14 22 45 147 351 1 772
4 1 15 25 49 145 352 1 374
5 2 17 28 51 145 344 1 091
6 4 19 30 54 145 332 886
7 5 22 32 56 145 317 732
8 6 23 33 58 145 300 615
9 6 24 35 61 145 284 524
10 7 25 37 62 145 267 450
11 7 25 37 63 145 251 391
12 7 25 38 63 145 236 342
13 7 26 38 63 145 236 301
14 7 26 38 63 145 236 266
15 7 26 39 63 145 236 237
16 7 26 41 63 145 236 236
17 7 26 44 63 145 236 236
18 7 26 46 63 145 236 236
19 7 26 49 63 145 236 236
20 8 26 50 63 145 236 236
21 8 26 53 63 145 236 236
22 9 26 56 63 145 236 236
23 9 26 58 63 145 236 236
24 9 26 61 63 145 236 236
25 10 26 62 63 145 236 236
26 10 26 65 65 145 236 236
27 10 26 67 67 145 236 236
28 11 26 69 68 145 236 236
29 11 26 72 70 145 236 236
30 12 27 74 72 145 236 236

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 92 112 224 316 3 319
2 71 83 89 109 221 356 2 498
3 73 85 94 116 219 374 1 899
4 71 85 95 118 215 375 1 473
5 70 85 96 119 213 367 1 169
6 70 86 97 120 212 354 949
7 70 87 97 121 210 338 785
8 70 87 97 122 209 321 659
9 69 87 98 124 208 303 561
10 67 85 97 123 205 296 482
11 65 83 95 121 203 294 419
12 64 82 95 120 202 293 366
13 64 82 94 120 202 292 322
14 63 82 94 120 201 292 292
15 63 82 94 119 201 292 292
16 63 81 93 119 201 292 292
17 63 81 93 119 200 291 291
18 62 80 92 118 200 291 291
19 61 80 92 118 199 290 290
20 61 79 91 117 199 290 290
21 60 79 91 116 198 289 289
22 60 78 90 116 197 288 288
23 59 77 89 115 197 287 287
24 58 76 88 114 196 286 286
25 57 75 87 113 195 285 285
26 56 74 86 112 194 284 284
27 55 73 85 111 193 283 283
28 54 72 84 110 191 282 282
29 52 71 83 109 190 281 281
30 51 70 82 108 189 280 280

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 44 155 293 3 100
2 6 19 25 45 157 334 2 329
3 7 20 28 51 154 350 1 769
4 8 22 32 55 152 351 1 372
5 9 24 35 58 152 344 1 089
6 11 26 37 61 152 331 884
7 12 29 39 62 152 316 731
8 12 29 40 64 152 300 614
9 12 30 41 67 151 283 523
10 12 30 42 68 151 267 450
11 13 31 43 69 151 251 391
12 13 31 43 69 151 242 342
13 13 31 43 69 151 242 301
14 13 31 43 69 151 242 266
15 13 32 44 69 151 242 242
16 13 32 44 69 151 242 242
17 14 32 44 70 152 242 242
18 14 32 46 70 152 243 243
19 14 33 49 70 152 243 243
20 15 33 50 71 153 244 244
21 15 34 53 71 153 244 244
22 15 34 56 72 153 244 244
23 16 34 58 72 154 244 244
24 16 34 61 72 154 244 244
25 16 34 62 72 154 244 244
26 16 34 65 72 154 244 244
27 16 34 67 72 153 244 244
28 15 34 70 72 153 244 244
29 15 34 72 71 153 244 244
30 15 34 75 72 153 244 244

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 39 151 293 3 106
2 0 12 19 39 151 335 2 332
3 1 13 21 44 147 351 1 771
4 1 14 24 48 144 352 1 374
5 2 16 27 50 144 344 1 090
6 3 19 30 53 144 332 885
7 5 21 31 55 144 316 732
8 5 22 33 57 144 300 615
9 5 23 34 60 144 283 523
10 6 24 36 62 144 267 450
11 6 24 37 62 144 251 391
12 6 25 37 63 144 235 342
13 7 25 37 63 144 235 301
14 7 25 37 63 144 235 266
15 7 25 39 63 144 235 237
16 7 25 41 63 144 235 235
17 7 25 44 63 144 235 235
18 7 25 46 63 144 235 235
19 7 25 49 63 144 235 235
20 8 25 50 63 144 235 235
21 8 25 53 63 144 235 235
22 9 25 56 63 144 235 235
23 9 25 58 63 145 235 235
24 9 25 61 63 145 235 235
25 10 25 62 63 145 235 235
26 10 25 65 65 145 235 235
27 10 25 67 67 145 235 235
28 11 25 69 68 145 235 235
29 11 26 72 70 145 235 235
30 12 27 74 72 145 235 235

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 44 171 302 3 205
2 0 10 21 44 171 344 2 402
3 1 11 23 48 166 360 1 822
4 1 13 26 54 163 360 1 412
5 1 16 29 57 162 352 1 120
6 2 19 33 59 161 340 909
7 4 22 37 60 160 324 751
8 6 25 38 60 159 307 631
9 9 31 42 59 158 290 537
10 11 34 43 59 157 273 462
11 11 33 43 59 157 257 401
12 10 33 43 59 156 247 351
13 9 32 43 59 155 246 309
14 9 32 44 60 155 245 273
15 9 32 44 60 154 245 245
16 9 32 45 60 153 244 244
17 9 32 45 60 152 243 243
18 9 32 48 60 152 243 243
19 9 32 49 60 152 242 242
20 9 32 52 60 152 243 243
21 9 32 54 60 152 243 243
22 9 32 57 60 152 242 242
23 9 32 60 60 151 242 242
24 9 32 62 62 151 241 241
25 10 32 65 64 150 241 241
26 10 32 67 66 149 240 240
27 11 32 70 68 149 240 240
28 11 32 72 70 148 239 239
29 11 32 74 72 148 239 239
30 12 32 77 74 147 238 238

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 95 115 227 320 3 371
2 76 88 95 115 227 362 2 540
3 76 88 97 119 222 379 1 931
4 75 88 98 122 219 380 1 497
5 74 89 100 122 217 372 1 187
6 74 90 101 124 215 358 962
7 74 90 101 124 214 342 795
8 72 89 100 125 212 324 667
9 71 89 100 126 210 306 566
10 70 88 100 126 209 300 486
11 69 88 100 126 208 298 422
12 68 87 99 124 206 297 368
13 67 85 97 123 205 296 323
14 66 84 96 122 204 294 294
15 64 83 95 121 202 293 293
16 63 82 94 119 201 292 292
17 62 81 93 119 200 291 291
18 61 80 92 118 199 290 290
19 61 79 91 117 199 289 289
20 60 78 90 116 198 288 288
21 59 77 89 115 197 288 288
22 58 76 88 114 196 287 287
23 57 75 87 113 195 285 285
24 56 74 86 112 193 284 284
25 54 73 85 111 192 283 283
26 53 72 84 109 191 282 282
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 89 201 304 3 230
2 50 62 69 89 201 348 2 431
3 50 63 71 94 196 364 1 847
4 50 63 73 97 194 366 1 433
5 50 64 75 98 192 358 1 138
6 50 65 76 100 191 346 924
7 50 67 77 101 190 330 765
8 50 67 77 102 189 313 643
9 49 66 78 103 188 296 547
10 48 66 78 104 187 279 471
11 48 66 78 104 186 277 409
12 47 66 78 104 185 276 357
13 47 65 77 103 185 275 314
14 46 64 76 102 184 275 278
15 46 64 76 102 184 274 274
16 45 63 75 101 183 274 274
17 44 63 75 100 182 273 273
18 44 62 74 100 182 273 273
19 43 62 74 100 181 272 272
20 43 62 74 99 181 272 272
21 43 61 73 99 181 272 272
22 42 61 73 99 180 271 271
23 42 60 72 98 180 271 271
24 41 59 71 97 179 270 270
25 40 59 71 97 178 269 269
26 40 58 70 96 178 268 268
27 39 57 70 95 177 268 268
28 38 57 72 94 176 267 267
29 38 56 75 94 175 266 266
30 37 55 77 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 98 105 125 237 329 3 404
2 86 98 104 125 236 363 2 556
3 84 97 105 128 230 380 1 937
4 83 96 106 130 227 380 1 499
5 83 97 108 131 226 372 1 187
6 83 99 110 133 225 357 961
7 84 101 111 135 224 341 793
8 84 102 112 137 224 323 665
9 85 102 114 139 224 315 565
10 85 103 115 141 224 314 485
11 85 103 115 141 223 314 420
12 84 102 114 140 222 313 367
13 83 101 113 139 221 312 322
14 82 100 112 138 220 311 311
15 81 99 111 137 219 310 310
16 80 98 110 136 218 309 309
17 79 97 109 135 217 308 308
18 78 96 108 134 216 306 306
19 77 95 107 133 215 305 305
20 76 94 106 132 214 304 304
21 74 93 105 131 212 303 303
22 73 91 103 129 211 302 302
23 72 90 102 128 210 300 300
24 70 89 101 126 208 299 299
25 69 87 99 125 207 298 298
26 67 86 98 123 205 296 296
27 66 84 96 122 204 295 295
28 64 83 95 120 202 293 293
29 63 81 93 119 201 292 292
30 61 80 92 118 199 290 290

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 64 176 302 3 205
2 27 39 45 65 177 344 2 407
3 26 39 47 69 172 360 1 825
4 25 39 49 73 169 361 1 413
5 26 40 51 74 168 352 1 120
6 26 42 53 76 168 339 908
7 27 44 54 77 167 324 750
8 27 44 54 79 166 307 630
9 26 44 55 81 165 289 536
10 26 44 56 82 165 272 461
11 26 44 56 82 164 256 400
12 25 44 56 82 163 254 349
13 25 43 55 81 163 254 307
14 24 43 55 80 162 253 272
15 24 42 54 80 162 253 253
16 23 42 54 79 161 252 252
17 23 41 53 79 161 252 252
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 58 79 161 252 252
24 23 41 61 79 161 251 251
25 22 41 63 78 160 251 251
26 22 40 66 78 160 251 251
27 22 40 68 78 160 250 250
28 21 40 71 78 159 250 250
29 21 39 73 77 159 250 250
30 21 39 75 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 3 20 132 284 3 006
2 0 1 6 21 133 325 2 256
3 1 1 8 27 129 340 1 713
4 1 3 11 31 127 341 1 328
5 1 4 13 33 127 334 1 055
6 2 4 16 36 127 322 856
7 2 5 19 38 128 307 708
8 2 7 21 40 128 291 595
9 3 7 24 43 128 275 507
10 4 9 26 45 127 259 436
11 4 9 28 46 128 243 379
12 4 10 31 45 127 228 331
13 4 11 33 46 128 219 292
14 5 12 35 46 128 219 258
15 6 13 38 45 127 218 230
16 6 14 40 44 126 217 217
17 6 15 42 46 126 217 217
18 6 15 45 49 126 217 217
19 7 17 47 50 127 218 218
20 7 17 49 52 127 218 218
21 7 19 52 54 128 218 218
22 9 19 54 56 128 219 219
23 9 20 57 57 128 218 218
24 9 21 58 60 128 218 218
25 10 22 61 62 128 218 218
26 10 23 63 63 128 218 218
27 10 24 66 65 130 218 218
28 11 24 68 67 131 218 218
29 11 25 70 69 132 218 218
30 11 26 73 70 134 218 218

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 76 188 300 3 183
2 38 50 56 77 188 342 2 387
3 38 50 59 81 184 358 1 812
4 37 51 61 85 181 359 1 405
5 38 52 63 86 181 351 1 116
6 39 54 65 89 180 339 905
7 40 56 66 90 179 323 749
8 39 56 67 91 179 307 629
9 39 57 68 93 178 290 536
10 39 57 69 95 177 273 461
11 39 57 69 95 177 268 400
12 38 56 69 94 176 267 350
13 38 56 68 94 176 266 308
14 37 56 68 93 175 266 273
15 37 55 67 93 175 265 265
16 36 54 66 92 174 265 265
17 36 54 66 92 174 264 264
18 35 54 66 91 173 264 264
19 35 53 65 91 173 264 264
20 35 53 65 91 173 264 264
21 35 53 65 91 172 263 263
22 34 52 64 90 172 263 263
23 33 52 64 90 171 262 262
24 33 51 63 89 171 262 262
25 32 50 64 88 170 261 261
26 31 50 66 87 169 260 260
27 31 49 68 87 168 259 259
28 30 48 71 86 168 259 259
29 29 47 74 85 167 258 258
30 28 47 77 84 166 257 257

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 33 53 164 296 3 140
2 15 27 33 53 165 338 2 356
3 15 28 36 59 162 354 1 789
4 16 29 39 63 160 355 1 387
5 17 31 42 65 159 347 1 101
6 18 34 44 68 159 334 893
7 20 36 46 70 159 319 739
8 20 37 48 72 159 303 621
9 20 38 49 75 159 286 528
10 21 39 51 77 159 269 454
11 21 39 51 77 159 253 394
12 21 40 52 78 159 250 345
13 21 40 52 78 159 250 304
14 21 40 52 78 159 250 269
15 22 40 52 78 159 250 250
16 21 40 52 77 159 250 250
17 21 40 52 78 159 250 250
18 21 40 52 77 159 250 250
19 21 40 52 77 159 250 250
20 21 40 52 78 159 250 250
21 21 40 53 77 159 250 250
22 21 39 56 77 159 250 250
23 21 39 58 77 159 249 249
24 20 39 61 76 158 249 249
25 20 38 63 76 158 248 248
26 19 38 66 75 157 248 248
27 19 37 68 75 157 248 248
28 18 37 71 74 156 247 247
29 18 36 73 74 156 247 247
30 18 36 75 74 156 246 246

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 99 119 230 323 3 418
2 86 98 104 124 236 371 2 607
3 88 101 109 132 234 393 1 999
4 89 103 113 136 233 397 1 560
5 92 107 118 141 235 390 1 243
6 95 111 122 145 237 378 1 011
7 98 114 124 148 238 362 838
8 99 116 127 152 239 344 705
9 101 118 130 155 240 331 600
10 102 120 132 157 240 331 517
11 102 120 132 158 240 331 449
12 101 120 132 158 239 330 392
13 100 119 131 156 238 329 345
14 99 117 129 155 237 328 328
15 98 116 128 154 236 326 326
16 96 114 126 152 234 325 325
17 95 113 125 151 233 324 324
18 93 112 124 150 231 322 322
19 92 110 122 148 230 321 321
20 91 109 121 147 228 319 319
21 89 107 119 145 227 318 318
22 87 106 118 143 225 316 316
23 85 104 116 142 223 314 314
24 84 102 114 140 222 312 312
25 82 100 112 138 220 311 311
26 80 98 110 136 218 309 309
27 78 97 109 134 216 307 307
28 77 95 107 133 215 305 305
29 75 93 105 131 213 304 304
30 73 92 104 129 211 302 302

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 47 159 295 3 125
2 11 23 29 49 161 337 2 346
3 13 25 34 56 159 352 1 781
4 14 28 38 61 158 353 1 380
5 16 31 42 64 159 345 1 095
6 18 33 44 68 159 333 888
7 20 36 46 70 159 317 735
8 20 37 48 72 159 301 617
9 20 38 49 75 159 284 525
10 21 39 51 76 159 268 452
11 21 39 51 77 159 251 392
12 21 39 51 77 159 250 343
13 20 39 51 76 158 249 302
14 20 38 50 76 158 249 267
15 19 38 50 75 157 248 248
16 19 37 49 75 157 247 247
17 19 37 49 75 156 247 247
18 18 37 49 75 156 247 247
19 18 37 49 74 156 247 247
20 19 37 50 75 157 247 247
21 19 37 53 75 157 247 247
22 19 37 56 75 157 247 247
23 19 37 58 75 157 247 247
24 18 37 61 75 156 247 247
25 18 37 63 74 156 247 247
26 18 36 66 74 156 247 247
27 18 36 67 74 156 247 247
28 18 36 70 74 156 246 246
29 17 36 73 74 155 246 246
30 17 35 75 73 155 246 246

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 30 142 289 3 059
2 0 4 11 31 143 330 2 296
3 1 5 13 36 138 346 1 743
4 1 6 15 39 136 346 1 351
5 1 7 18 41 135 339 1 072
6 2 9 20 43 134 326 869
7 2 11 21 44 134 311 719
8 2 11 21 46 133 295 603
9 3 11 24 48 132 278 513
10 4 11 26 49 132 262 441
11 4 12 28 50 132 246 383
12 4 12 31 50 132 230 335
13 5 12 34 50 132 223 295
14 5 13 36 50 132 223 261
15 6 13 38 51 133 223 232
16 6 14 41 51 133 224 224
17 6 15 43 52 134 224 224
18 6 15 45 52 134 225 225
19 7 17 48 53 135 226 226
20 7 17 50 54 136 227 227
21 8 19 52 55 137 228 228
22 9 19 54 57 137 228 228
23 9 20 57 58 138 229 229
24 9 21 59 60 138 229 229
25 10 22 62 62 139 230 230
26 10 23 64 64 139 230 230
27 10 24 67 65 139 230 230
28 11 25 69 67 140 230 230
29 11 26 72 69 140 231 231
30 11 26 74 71 140 231 231

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 62 174 290 3 073
2 24 36 43 63 175 331 2 305
3 25 38 46 68 171 347 1 748
4 25 39 49 72 169 347 1 355
5 26 40 52 74 169 339 1 075
6 27 42 53 77 168 327 871
7 28 44 55 78 168 311 720
8 27 45 55 80 167 295 605
9 27 45 56 82 166 278 514
10 27 45 57 83 166 262 442
11 27 45 57 83 165 256 384
12 27 45 57 83 165 255 336
13 26 45 57 83 164 255 296
14 26 44 56 82 164 255 262
15 26 44 56 82 164 255 255
16 26 44 56 82 164 255 255
17 26 45 56 82 164 255 255
18 26 45 57 83 164 255 255
19 27 45 57 83 165 255 255
20 27 45 57 83 165 256 256
21 27 45 57 83 165 256 256
22 27 45 57 83 165 256 256
23 27 45 57 83 165 256 256
24 27 45 60 83 165 255 255
25 26 45 62 83 164 255 255
26 26 44 64 82 164 255 255
27 26 44 67 82 164 255 255
28 26 44 69 82 164 254 254
29 25 44 72 81 163 254 254
30 25 43 74 81 163 254 254

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 3 209
2 0 14 25 49 164 343 2 399
3 1 17 28 54 161 359 1 818
4 2 20 31 59 160 359 1 409
5 3 23 36 65 160 351 1 117
6 6 27 39 67 161 339 906
7 9 31 42 70 161 323 749
8 11 35 46 73 161 306 629
9 13 38 50 76 161 289 535
10 15 40 52 77 161 272 460
11 15 41 53 78 161 256 400
12 16 43 54 79 161 252 349
13 17 44 55 80 161 252 308
14 18 45 56 80 161 252 272
15 18 45 56 80 161 252 252
16 18 45 56 80 160 251 251
17 18 45 56 80 161 251 251
18 18 45 56 80 161 251 251
19 18 45 56 80 161 251 251
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 59 80 161 252 252
24 18 45 61 80 161 251 251
25 18 45 64 80 160 251 251
26 18 45 66 80 160 251 251
27 18 45 68 80 160 250 250
28 18 45 71 80 159 250 250
29 18 45 73 80 159 250 250
30 18 45 76 80 159 249 249

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 11 123 288 3 044
2 0 1 6 13 122 329 2 287
3 1 1 8 15 117 345 1 737
4 1 3 11 18 114 345 1 347
5 1 4 13 20 114 338 1 069
6 2 4 16 23 113 325 867
7 2 6 19 26 113 311 717
8 2 7 21 27 113 294 603
9 3 7 24 30 113 278 513
10 4 9 26 32 113 262 441
11 4 9 29 34 113 246 383
12 4 10 31 37 114 231 335
13 5 11 34 39 114 216 295
14 5 12 36 41 114 205 262
15 6 13 38 43 114 205 233
16 6 14 41 45 115 205 208
17 6 15 43 46 115 206 206
18 6 15 45 49 117 207 207
19 7 17 48 51 119 207 207
20 7 17 50 53 121 208 208
21 8 19 53 54 123 208 208
22 9 19 54 57 125 208 208
23 9 20 57 58 126 209 209
24 9 21 60 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 69 134 208 208
30 11 27 74 71 135 208 208

ANNEX III

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

Currency National insurance market Volatility adjustment (in bps)
Euro Austria 20
Euro Belgium 20
Euro Croatia 20
Euro Cyprus 20
Euro Estonia 20
Euro Finland 20
Euro France 20
Euro Germany 20
Euro Greece 20
Euro Ireland 20
Euro Italy 20
Euro Latvia 20
Euro Lithuania 20
Euro Luxembourg 20
Euro Malta 20
Euro Netherlands 20
Euro Portugal 20
Euro Slovakia 20
Euro Slovenia 20
Euro Spain 20
Czech koruna Czechia 14
Danish krone Denmark 25
Forint Hungary 8
Krona Sweden 1
Lev Bulgaria 15
Pound sterling United Kingdom 37
Romanian leu Romania 5
Zloty Poland 11
Króna Iceland 49
Norwegian krone Norway 35
Swiss franc Liechtenstein –4
Swiss franc Switzerland –4
Australian dollar Australia 24
Canadian dollar Canada 22
Renminbi-yuan China –1
Hong Kong dollar Hong Kong 3
US dollar United States 48
Yen Japan 14

ELI: http://data.europa.eu/eli/reg_impl/2025/1794/oj

ISSN 1977-0677 (electronic edition)

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