Risk Free Rates - 2026

Although this is a data publication rather than a new rule, it is operationally important for actuarial valuation, reserve reporting and solvency calculations. Compliance and actuarial teams should ensure the correct 2026 curve is ingested into valuation models, version-controlled and reconciled to the source. Model owners should document interpolation, extrapolation and governance sign-off, and finance, risk and audit functions should assess downstream impacts on technical provisions, capital and disclosures.

Firms should also monitor for any PA updates or corrections and retain evidence of the curve used. No new conduct obligations are introduced, but reliance on stale, incorrectly applied or poorly governed curves can create financial reporting and supervisory risk. Action: circulate the curve to actuarial and financial reporting teams, update controls and audit evidence, and confirm that FSI 2.2 valuation outputs reflect the published term structure.