‘Flawed’ standard formula currency risk calibration needs revision - Insurance Europe

currency

Insurance Europe, the pan-European industry trade body, is lobbying policy-makers to revise the standard formula's calibration for currency risk in light of evidence that the present methodology is not fit for purpose.

Research conducted by the trade association suggests that the current wording in the draft level 2 text does not reflect the real currency risks faced by insurers, and acts as a deterrent against the holding of asset reserves in local currencies. A report published by Insurance

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