Solvency II capital requirements: evil, or stupid?
Afme’s response to the capital calibrations in Solvency II doesn’t inspire much confidence in the European Commission. On optimistic assumptions, their drafting has been thoughtless rather than malicious, but neither possibility is pleasing. What else is slipping through the net?
The Association for Financial Markets in Europe sent a strongly worded letter to the European Commission recently. The target was some obscure detail at the wonkish end of Solvency II itself one of the most wonkish pieces of regulation in the pipeline.
The EC, Afme alleged, had
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