Examples of using The internal model in English and their translations into Swedish
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Official
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Colloquial
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Medicine
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Ecclesiastic
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Ecclesiastic
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Official/political
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Computer
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Programming
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Political
Non-compliance of the internal model.
To document the internal model and any subsequent changes made to it;
To test and validate the internal model;
Data used for the internal model shall be accurate,
To design and implement the internal model;
But the more complex the internal models, the more prone they are to errors, or even to manipulation.
Insurance and reinsurance undertakings shall demonstrate that the internal model is widely used in
The internal model design of each component module is for the purpose of generality,
This means that institutions shall demonstrate that the internal model is sensitive to material idiosyncratic differences between similar
Any specific risks existing at group level which would not be sufficiently covered by the standard formula or the internal model used, because they are difficult to quantify;
Use test Insurance and reinsurance undertakings shall demonstrate that the internal model is widely used in
Basle's paper"The Supervisory Framework for the use of'Backtesting' in conjunction with the internal models approach to Market Risk Capital Requirements" makes it clear(p. 3)the use of risk measures calibrated to a one-day holding period.">
reinsurance undertakings shall submit, as a minimum, documentary evidence that the internal model meets the requirements set out in Articles 117 to 122.
That system:(i) placed key supervisory decisions in the hands of the group supervisor alone(approval of the internal model, imposition of additional capital requirements,
overseeing the adequacy of the internal models, for imposing prudential measures and conducting investigations and inspections.
This document will serve as a basis for the materiality assessment of extensions and changes to the internal model method(IMM) and the advanced method for calculating credit valuation adjustment risk(A-CVA).
that it is at least equal to the capital requirement for a future that would result from a calculation made using the method set out in the remainder of this Annex or applying the internal models method described in Annex V.
stated in the memorandum, the Head of the Internal Models Division, following a discussion with the Bank management team, decides to open an investigation.
Where insurance and reinsurance undertakings cannot derive the Solvency Capital Requirement directly from the probability distribution forecast generated by the internal model, the supervisory authorities may allow approximations to be used in the process to calculate the Solvency Capital Requirement,
reinsurance undertakings shall derive the Solvency Capital Requirement directly from the probability distribution forecast generated by the internal model of those undertakings, using the Value-at-Risk measure set out in Article 1003.
of an insurance or reinsurance undertaking under its supervision deviates significantly from the internal model approved at group level, and as long as that undertaking
In addition, insurance and reinsurance undertakings shall demonstrate that the frequency of calculation of the Solvency Capital Requirement using the internal model is consistent with the frequency with which they use their internal model for the other purposes covered by the first paragraph.
reinsurance undertaking under its supervision deviates significantly from the assumptions underlying the internal model approved at group level,
for internal modelling purposes as long as the outputs of the internal model can be used by those undertakings to calculate the Solvency Capital Requirement in a manner that provides policyholders
(a) the approval of an internal model in accordance with Article 112; and.
changes to the policy for changing an internal model referred to in Article 115;
changes to the policy for changing an internal model referred to in Article 115.