European yield curve calculation regulations should change, ESRB says


Regulations governing how insurance firms in the European Union calculate their long-term liabilities need to be changed to protect financial stability, the European Systemic Risk Board (ESRB) warns.

The ESRB advisory technical committee’s working group on insurance issued its report, Regulatory risk-free yield curve properties and macroprudential consequences, on August 17.

Insurers face a problem in valuing their assets and liabilities, which is the opposite of that faced by banks, the

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