Section VI: Forward financial instruments of insurance undertakings.

The amounts provided for in articles R. 332-54 and R. 332-55 are calculated net of the value of guarantees received under an eligible master agreement. An eligible master agreement meets all of the following conditions: a) It complies with the general principles of a national or international master agreement; b) It explicitly provides for compensation between positive and negative realisation values; c) It provides that the guarantee shall take the…

In assessing the limits laid down in this section, the Autorité de contrôle prudentiel et de résolution may take into account the financial instruments used by undertakings: a) In which, on the one hand, the undertaking has invested an amount in excess of 0.5% of the dispersion base defined in the first paragraph of Article R. 332-3 and in which, on the other hand, the group to which the insurance…

An insurance undertaking using forward financial instruments shall, at least once a month, make projections of the composition of its investment portfolio in order to take account of the impact on it of its transactions in forward financial instruments. These projections are drawn up for maturities of one month, three months, six months, one year and annually until the maximum maturity of the forward financial instruments used, distinguishing the impact…