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The Prudential Regulation Authority (PRA) has published a letter sent on 23 May to all firms in the internal model approval process on the introduction of early warning indicators. The PRA proposes to use the period before the formal implementation of Solvency II to trial the use of early warning indicators in the individual capital adequacy standards (ICAS) regime for firms using an internal model for the regulatory capital assessment. From September 2013 the PRA expects firms to be aware of their performance against early warning indicators and be prepared to discuss them with their supervisor.
RELATED LINK
http://www.bankofengland.co.uk/pra/Documents/solvency2/introductionofearlywarningindicators23May2013.pdf
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