%PDF-1.5
%
1 0 obj
<>/Metadata 394 0 R/Pages 2 0 R/StructTreeRoot 49 0 R/Type/Catalog>>
endobj
394 0 obj
<>stream
11.695
8.268333333333334
4
2018-04-24T07:10:19.770-04:00
f5493f508b85027a105cf26037cb63d42fae8e33
245087
application/pdf
2018-04-24T07:10:48.786-04:00
On 11 April 2018 the PRA published the consultation paper (CP) 9/18 on the modelling of the volatility adjustment (VA) for Internal Model (IM) firms. The PRA proposes a new Supervisory Statement (SS) related to the application of a dynamic VA (DVA) under stress.
Dynamic Volatility Adjustment: Balance Sheet Protection Under Stress
2018-04-23T16:41:08.000+01:00
2018-04-23T11:41:08.000-04:00
2018-04-23T11:41:08.000-04:00
endstream
endobj
2 0 obj
<>
endobj
49 0 obj
<>
endobj
51 0 obj
<>
endobj
50 0 obj
<>
endobj
54 0 obj
[53 0 R 60 0 R 61 0 R 65 0 R 66 0 R 67 0 R 77 0 R 78 0 R 79 0 R 80 0 R 81 0 R 82 0 R 83 0 R 84 0 R 85 0 R 87 0 R 88 0 R 89 0 R 90 0 R 63 0 R 64 0 R 73 0 R 71 0 R 74 0 R 74 0 R 74 0 R 75 0 R 75 0 R 75 0 R 75 0 R 75 0 R 75 0 R 75 0 R 75 0 R 75 0 R 75 0 R 75 0 R 75 0 R 75 0 R 75 0 R 75 0 R 75 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 76 0 R 86 0 R]
endobj
92 0 obj
[91 0 R 93 0 R 94 0 R 95 0 R 96 0 R 102 0 R 103 0 R 103 0 R 103 0 R 105 0 R 106 0 R 106 0 R 106 0 R 106 0 R 106 0 R 106 0 R 106 0 R 106 0 R 106 0 R 100 0 R 110 0 R 112 0 R 108 0 R 116 0 R 117 0 R 117 0 R 117 0 R 119 0 R 120 0 R 120 0 R 120 0 R 120 0 R 120 0 R 120 0 R 120 0 R 120 0 R 120 0 R 120 0 R 114 0 R 124 0 R 126 0 R 122 0 R 130 0 R 131 0 R 131 0 R 131 0 R 133 0 R 134 0 R 134 0 R 134 0 R 134 0 R 134 0 R 134 0 R 134 0 R 134 0 R 134 0 R 128 0 R 135 0 R 136 0 R 142 0 R 145 0 R 145 0 R 145 0 R 145 0 R 145 0 R 145 0 R 145 0 R 145 0 R 147 0 R 147 0 R 147 0 R 147 0 R 147 0 R 147 0 R 147 0 R 147 0 R 147 0 R 147 0 R 149 0 R 149 0 R 149 0 R 149 0 R 149 0 R 149 0 R 151 0 R 151 0 R 151 0 R 151 0 R 151 0 R 151 0 R 151 0 R 140 0 R 152 0 R 153 0 R 153 0 R 154 0 R 155 0 R 156 0 R 157 0 R 158 0 R 159 0 R 160 0 R 198 0 R 204 0 R 206 0 R 208 0 R 202 0 R 212 0 R 214 0 R 216 0 R 210 0 R 220 0 R 222 0 R 224 0 R 218 0 R 228 0 R 228 0 R 228 0 R 230 0 R 232 0 R 226 0 R 233 0 R 234 0 R 162 0 R 165 0 R 168 0 R 171 0 R 174 0 R 177 0 R 178 0 R 181 0 R 182 0 R 185 0 R 186 0 R 189 0 R 190 0 R 193 0 R 194 0 R 197 0 R]
endobj
236 0 obj
[235 0 R 239 0 R 246 0 R 248 0 R 244 0 R 252 0 R 254 0 R 250 0 R 258 0 R 260 0 R 256 0 R 264 0 R 264 0 R 264 0 R 266 0 R 262 0 R 267 0 R 268 0 R 269 0 R 270 0 R 276 0 R 277 0 R 277 0 R 277 0 R 280 0 R 280 0 R 280 0 R 280 0 R 280 0 R 280 0 R 280 0 R 280 0 R 280 0 R 280 0 R 280 0 R 280 0 R 280 0 R 282 0 R 282 0 R 282 0 R 282 0 R 282 0 R 282 0 R 282 0 R 282 0 R 282 0 R 282 0 R 282 0 R 284 0 R 284 0 R 284 0 R 284 0 R 284 0 R 284 0 R 284 0 R 284 0 R 286 0 R 286 0 R 286 0 R 286 0 R 286 0 R 286 0 R 286 0 R 286 0 R 286 0 R 286 0 R 286 0 R 286 0 R 286 0 R 288 0 R 288 0 R 288 0 R 288 0 R 288 0 R 288 0 R 288 0 R 290 0 R 290 0 R 290 0 R 290 0 R 290 0 R 290 0 R 290 0 R 290 0 R 290 0 R 290 0 R 290 0 R 290 0 R 290 0 R 290 0 R 290 0 R 274 0 R 291 0 R 297 0 R 298 0 R 299 0 R 300 0 R 300 0 R 302 0 R 304 0 R 305 0 R 306 0 R 308 0 R 310 0 R 311 0 R 312 0 R 295 0 R 315 0 R 317 0 R 319 0 R 321 0 R 323 0 R 327 0 R 328 0 R 329 0 R 329 0 R 331 0 R 333 0 R 334 0 R 335 0 R 335 0 R 337 0 R 339 0 R 340 0 R 341 0 R 325 0 R 342 0 R 238 0 R 240 0 R]
endobj
347 0 obj
[354 0 R 355 0 R 356 0 R 359 0 R 361 0 R 363 0 R 365 0 R 366 0 R 368 0 R 371 0 R 372 0 R 373 0 R 374 0 R 349 0 R 346 0 R 350 0 R 352 0 R 352 0 R 353 0 R]
endobj
369 0 obj
<>
endobj
367 0 obj
<>
endobj
44 0 obj
<>/MediaBox[0 0 595.32 842.04]/Parent 2 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/StructParents 3/Tabs/S/Type/Page>>
endobj
45 0 obj
<>stream
x[Yo8~G{fDԱhHҝY a0jvrFr1?~m|I]d.l2?{ϋNgY-/_xR\yÿ8I|k_zZO";?;?U"w3 %T`Gaϟ#1-`Z1_s?>?c }{~v" 6ҏj/tdXxRbO]Yz*3Ñx8
b8
e82Gz1&y1ZK_ɱιJ"J|ߑHbi2/
GzoF/*|-z\.vX;mm6! h.};B%izK*~۪1
U;bRCKpnh;]4:!K_2N#Xq7vLV-e`fY
^*!W6pkw>
f0H
?Qӗ!p.i':]KAҰac%v]'ͦb`N yc<@ Wa1{l_-B X<4Gfq)<8dAC*9Qsio8F-'Ve!GGđAOuWM|
)VsPZ)(5~@!\U$n_I [1~p6gD*V)Xՠqm} Ea
Q](rACs+zxEHk&}HQb&mH6ԧ)ED
TBb}F;5+Ą`;v
a
כfk)k/UӖQҴP{y
^>]]B?^5N9}_v̸Crg1/D%̱iYa6>oZwKSi"`7 *x~MZ_]hkNz: =-m
n~m`c/`hi!gE⊏9}3zS4xDr^QpinWVm8$ɠITp=(>I>i{XRa|&D
]C)*%=6_\#fnBI!VpLr; hκȡCZT0P]a'(B7v[2B2N@rrZ6>B:
6r@(ySNBvvaB(iD1n^\@<WĆv3)ǑۦGr"?<LKPBcMnirZf|~BrU:V폗w$,m8&MK)}u"=ƟH֨ˈL+@4m
@ db%NJ@[j2̷,{wO)RnĊ[HrCAyᒟ+YJxBW>9vm1`O
&qՀxs/hgjj;uNҊϧ:}yRͱWP^ôtۙ!ndT?snRJVӾS)D֯Tq/L"ߎŚf6܇Х,h-jT_۠r[dI,cD.,Ә֜f3^R愇w:,iSIA!n,Eʜ N&SRtt|^@"wm~ݶd~0}$O|4)SEtm_bI_ cP:\ P{[
m^>|qe}[av8A>m}@bɢl&p/[Z_%d8 RsM4M]x{$<)BR!Xpp}:?nקeâXڧxv7}6 Y1z4ogc@
dLdÒ/2-hQN6zwQq[םim6x_7y?>>?
}]9*]ki**Iskg+Z4Tt_E[ؿt\mBb_.gsCȯgOu%KۥEi~Og95ւ*tNsHI'Ze+Ft>Ge$ʗ31zbys&QnhډQKQ%^߸rI)/+}qOmr?Q:~aJO4Lm*;>HaDسVAI ʡ\/(}iNo134SI}jų9y]+%:J`Jc
YUeRR0_q֦s*%>=Uѻs#"mPՕ7Es~-%|ܝ}y?p^x+=v3
>MKII9ed oy_pvrbQgEڿY1rʕ7ۓzC^
~~
ʂƥ(nKm4˝"Gmʢꮎ`
ĝJMcE$2١xO|qvJ֕6{l&|n"ÍY\:Wuf)BC "u-/ ?)X4@m^?8@Ɛ9e{;Cg8gFy2:~^~P?xCڋkm쉎$~W@Si-G5.!\ IcA exT2iACv5$a {21I:M~z^#5`9(]ۚocya
quJbbdORx"~S(<(>ByX1r:)bh0wۢWK
?TF2M6S(4Wֵ7oJ)T|?.\mvcل̲fQ"C\j_
㿳:OVBE
endstream
endobj
48 0 obj
<>stream
x]qozֹًmM6$bH(!CLI.nR&Pl6.T")D!.M1iKiÑdY蛷?#=3svy=;3s::Z
~p[?z~W:d[1+W{W'ݷn]BPu#wx~UmLɥ/CQ+zA@]6$&|
ӗ9C魛ޚy:?D@w?dAudMa [@6TW1Ed
(7@
/Ϝ^ܶ
fZ}0{}.\ WnJ Q0
|B1Jˢ2B1bҝ)hLuI=Z>SQiчQ<(٤=IOqtp\܌(>|Y'I+'O6RwxKmRKqNU\ݸZUjP?E\Ttw[Tc,ChrmLn8cS
CUu&
R"]T]n1%eJ]Hܶ$0'4ZjBŔ*j꠴DHuQThTKj~Q2WLR-zr"ƴC9if{9:01hm8]IoTєnۣ3-z4%^seDƊUHXQ}J}.(ƊV~TgzA@TzAa$5(E]Mp\Cj>FuLJ6h
{Oh;*-
H/++1혽LKDV~=gyali0l
;C*{fhGJqBrb{Lx:~|\f{v1:i1ׇ״d˰0sDU^Yu)hLӠij0KQ4RZIN4hڵ-|ð{qVg|3O<^GS".US^KQJ!dw
RigH[L3igKǾsڙ l&nUgm&>
d)h`>>GutaDS8,ӜRQUBQyK4ftLr^ۖhiMhޥTtXߖhnkΜEExUYӛi8IaLlv)i2-1[7CӨrJHb'ܝ&)wr<^cIN
mi5%F^[͉QeJYt
Ef)aw_caUeԒۜꆆ?S@p̑Iz$T\ͤAT تzsp`D6=5!&2\RaӣIW?a/dzTSq
ԓ43dK7۷H)Wc>
{ɔAuVAMh6pP7M$ZNS_|6^1awBB8a34KL&ФKBRuc{BEFj$aP]LjGJ{Yv$U˷(nE'm#%(6[1lrNK1DoMwJAgHw4uő39"8SqgnC:nƖziU8sfMbf[v
}.~S5nQW{2:OQ݄mRYmZ]K/xF@JcFEwq9@+`i -_{-9eEC
Boz0+2B^:Entt/l/Qp8p8/ګ^9C۞(3O.¯nT?ڗ{^{~:-(z"*åO9)AcLH.ҷ} No:R)T9Xߣ?9j`!˸Lmj$سEƆ~M?2)(|x?Cu*6Ka݆P2Hҟ,~2E