Examples of using Internal model in English and their translations into Polish
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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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Financial
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Official/political
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Programming
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Computer
Insurance and reinsurance undertakings may take full account of the effect of risk mitigation techniques in their internal model, as long as credit risk and other risks arising from the use of risk mitigation techniques are properly reflected in the internal model.
a stronger oversight role on internal model validation, shadow banking,
If, after having received approval from the supervisory authorities to use an internal model, insurance and reinsurance undertakings cease to comply with the requirements set out in Articles 117 to 122,
with its partial or full internal model in accordance with Chapter VI, Section 4, Subsection 3.
to develop a partial or full internal model in the event that the Solvency Capital Requirement standard formula does not accurately capture the risk profile of that undertaking.
such as IFRS enforcement, a stronger oversight role on internal model validation particularly in the area of insurance, and shadow banking.
supervision by the competent authorities; whereas the continued reliability of the results of the internal model calculation should be verified by a back-testing procedure;
reinsurance undertaking deviates significantly from the assumptions underlying the Solvency Capital Requirement, as calculated using an internal model or partial internal model in accordance with Chapter VI, Section 4, Subsection 3,
When assessing an application for the use of a partial internal model which only covers certain sub-modules of a specific risk module, or some of the business units of an insurance or reinsurance undertaking with
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,
the request under Article 116 has proven inefficient or while a partial or full internal model is being developed in accordance with that Article;
the supervisory authorities may, by a decision stating the reasons, require the undertakings concerned to use an internal model to calculate the Solvency Capital Requirement,
we should therefore not prioritise the improvement of economic relations over our own internal model, our social model, our environmental model,
General provisions for the approval of full and partial internal models.
Internal models based capital requirements for market risks.
Policy for changing the full and partial internal models.
Issues of internal models audit and corporate governance will also be discussed.
As a minimum, full internal models shall cover the risks set out in Article 1004.
With respect to the use of partial internal models additional requirements are introduced that are designed to prevent cherry-picking by(re)insurance undertakings see Article 110.
were directly verified and which were verified on the basis of professional judgement, internal models, hypotheses and management explanations.