ERM for Pension Funds [8]

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Bullet points include: E.g. Basel II/III and Solvency II: Pillar 1: Minimum (regulatory) capital requirements. Pillar 2: Supervisory review process, own risk assessment, governance disciplines. Supervisors review how firms themselves assess they have adequate capital. Pillar 3: Market discipline. Disclosure and transparency requirements on information relevant to third party assessment of capital base. Pillars are deliberately holistic, i.e. ERM based, especially Pillar 2

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