Glossary
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internal model approval application| Term | Definition | Legal instruments |
|---|---|---|
|
internal model approval 01/01/2016 |
means: (1) the approval granted to a firm by the PRA to use an internal model to calculate part (partial internal model) or all of its SCR; (2) in relation to a UK Solvency II firm that is a member of a group, the approval granted to that firm by the PRA to use an internal model to calculate part (partial internal model) or all of its group SCR. |