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200301 ||| eng |
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|a 9781513517841
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245 |
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|a France
|b Financial Sector Assessment Program-Technical Note-Key Attributes of Effective Resolution Regimes for Insurance Companies
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2019
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300 |
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|a 59 pages
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651 |
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4 |
|a France
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653 |
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|a Actuarial Studies
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653 |
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|a Insurance Companies
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653 |
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|a Banks and Banking
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653 |
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|a Insurance
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653 |
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|a Financial institutions
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653 |
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|a Insurance companies
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653 |
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|a Non-bank Financial Institutions
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653 |
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|a Financial Instruments
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653 |
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|a Financial Institutions and Services: Government Policy and Regulation
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653 |
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|a Revenue
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653 |
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|a Crisis management
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653 |
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|a Bridge bank
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653 |
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|a Economic & financial crises & disasters
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653 |
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|a Public Finance
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653 |
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|a Finance
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653 |
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|a Institutional Investors
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653 |
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|a Legal support in revenue administration
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653 |
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|a Taxation, Subsidies, and Revenue: General
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653 |
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|a Revenue administration
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653 |
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|a Public finance & taxation
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653 |
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|a Pension Funds
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653 |
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|a Bank resolution framework
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653 |
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|a Financial crises
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653 |
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|a Industries: Financial Services
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653 |
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|a Insurance & actuarial studies
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710 |
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|a International Monetary Fund
|b Monetary and Capital Markets Department
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|a eng
|2 ISO 639-2
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|b IMF
|a International Monetary Fund
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|a IMF Staff Country Reports
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028 |
5 |
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|a 10.5089/9781513517841.002
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856 |
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|u https://elibrary.imf.org/view/journals/002/2019/328/002.2019.issue-328-en.xml?cid=48764-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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|a This technical note explores key attributes of effective resolution regimes (KA) for insurance companies on France. The safety net in the sector is composed by two policyholder protection schemes, which can provide support in liquidation proceedings. The report highlights that there is consensus with the authorities that the new framework reflects many, however, not all elements needed for full compliance with the KAs, and the areas where further progress is needed. Alignment of the framework with KAs in terms of the institutional organization and infrastructure is high. The scope and responsibilities of the Prudential Supervision and Resolution Authority are clearly established in the law, as well as the cases when those are applicable, and its interaction with other relevant policy-making entities. The new framework targets all institutions considered systemic, given their size and other relevant features. Its' current implementation is guided solely by the threshold in terms of total assets; any holding company, group, mutual, or foreign subsidiary above this level is subject to Recovery and Resolution Planning requirements
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