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Systemic Risk, Pension Funds, Insurers, Asset Managers [18]

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Bullet points include: Presumes that they will eventually be subject to higher capital requirements. Requires an agreed common base against which to measure “higher”. Requires a global capital framework (c.f. Basel III). Hence IAIS proposals for a global Insurance Capital Standard (ICS) to be introduced by end 2016 and Basic Capital Requirements (BCR) introduced in 2014 but once introduced for some why not for everyone?

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