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means an application by a firm for a matching adjustment permission.
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means the permission granted to a firm by the PRA pursuant to section 138BA of FSMA to apply a matching adjustment for the purposes of calculating the best estimate in relation to a relevant portfolio of insurance or reinsurance obligations.
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means the adjustment to the relevant risk-free interest rate term structure to calculate the best estimate of a relevant portfolio of insurance or reinsurance obligations in accordance with:
- (1) the Matching Adjustment Part; and
- (2) [deleted]
- (3) [deleted]
- (4) relevant technical information published by the PRA in accordance with regulation 3(1) of the IRPR regulations.
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means a relevant portfolio of insurance or reinsurance obligations and the corresponding relevant portfolio of assets.
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means:
- (1) the conditions contained in regulation 4(3) to (9) and (11) of the IRPR regulations; and
- (2) the conditions contained in 2.2 to 2.4 (inclusive) of the Matching Adjustment Part.