"Using variation across insurers within the same country, and across countries for the same insurance group, we show that market risk insurance via guaranteed return products is more prevalent in countries with more lax capital requirements. Moreover, we show that the interest rate exposure of insurance companies increased as interest rates declined in recent years, and this effect is more pronounced for companies with a larger share of guaranteed return products. "
"Experimental results over synthetic and real problems confirm the advantages of this inference approach in its ability to accurately recover the original noise and signal matrices, as well as the achieved performance improvement in comparison to other state of art MTGP approaches."
"The primary contribution of this paper is to present a unified Bayesian CAT bond pricing framework based on uncertainty quantification of catastrophes and interest rates. Our framework allows for complex beliefs about catastrophe risks to capture the distinct and common patterns in catastrophe occurrences, and when combined with stochastic interest rates, yields a unified asset pricing approach with informative expected risk premia."
"These parameters can be calibrated using public data. This new approach means not only to evaluate climate risks without picking any specific scenario but also allows to fill the gap between current one year approach of regulatory and economic capital models and the necessarily long-term view of climate risks by designing a framework to evaluate the resulting credit loss on each step (typically yearly) of the transition path. This new approach could prove instrumental in the 2022 context of central banks weighing the pros and cons of a climate capital charge."
"In the recent event of a mis-selling on the high risk financial products, we have the different perception on internal controls between regulatory authorities and financial firms."o financial services for all communities, especially those most impacted by climate change. "
"Likelihood and impact are variables that are stressed when characterizing risks, evolving as an organization increases scalability and network infrastructure. Effective security risk management preparation relies severely on initiative-taking and adversarial mindsets."
"This article examines the two contrasting approaches for determining identifiability that are prevalent today: (i) the risk-based approach and (ii) the strict approach in the Article 29 Working Party’s Opinion on Anonymization Techniques (WP 216). Through two case studies, we illustrate the challenges encountered when trying to anonymize unstructured datasets. We show that, while the risk-based approach offers a more nuanced test consistent with the purposes of the GDPR, the strict approach of WP 216 makes anonymization of unstructured data virtually impossible as long as the original data continues to exist."
" ... it is ... possible to grasp the fil rouge behind the GDPR, the DSA and the AI Act as they express a common constitutional aspiration and direction."
"... the report first assesses the concepts of fairness, bias and discrimination and illustrates the differences between these terms. In a next step, the existing legal framework is examined with regard to regulations that are already relevant for AI. Building on this analysis, special consideration is given to the Proposal of the European Commission on Artificial Intelligence (AI Act Proposal), which is set to play a fundamental role for the future regulation of AI."
"Bank employees are more susceptible to being phished than professional services firm employees, but within the bank, the employees with professional certificates are less susceptible to phishing attacks than other bank employees. Also, employees with self-reported responsibility for cybersecurity are less likely to be phished."