Ceiops moots swap rate scrap
In the latest round of consultation papers for the next stage of Solvency II, the Committee of European Insurers and Occupational Pension Schemes (Ceiops) has proposed excluding the swap rate from being used to discount the technical provisions.
Previously there had been more widespread industry support for the use of swap rates than the AA government bonds currently advocated by Ceiops, but the Frankfurt-based organisation argued it was not appropriate to use swaps as the benchmark for risk
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