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subsidy, the disclosure on how the capital charges for systemic insurers will be calculated led to of a “Too-big-to-fail” implicit subsidy, the disclosure on how the capital charges for systemic risk and, if so, which entities should be regulated and how. Since 2012 international regulation have subjected, the Basic Capital Requirement (BCR). These papers seek to assess how financial markets reacted

/doc/jcr:8fdb59a2-a32b-47a8-a872-9b32b6ffeeac/WP01_15.pdf/lang:en/WP01_15.pdf