The following measures walk through the SES calculation and can be found in the bookmark: Basel Framework → IMA → NMRF. The SES calculations begin with the “Capital requirements for each non-modellable risk-factor” from MAR 33.16. This is expected to be a single value in the input, however, if a vector is provided, the Solution will take the 97.5% ES.Documentation Index
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- The ES (SES) measure is the capital requirement for the NMRFs filtered on idiosyncratic = N. The Risk Factor level must be present in queries for this measure.
- The ES (ISES) measure is the capital requirement for the NMRFs filtered on idiosyncratic = Y. The Risk Factor level must be present in queries for this measure.
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The SES measure uses the ES (SES) and ES (ISES) measures to calculate SES in MAR 33.17.
The value of ρ comes from the
ima.rho.sesparameter and defaults to 0.6.