(a) Historical data disclosed over the last 5 years | |||||||
Data published in thousands of $ | N − 1 | N − 2 | N − 3 | N − 4 | N − 5 | ||
Operating budget | 95,297,000 | 94,030,000 | 91,293,000 | 88,666,000 | 874,400,000 | ||
Accounting result (Deficit or budget surplus) | −2,900,000 | −2,776,000 | −23,000,000 | −3,000,000 | −26,600,000 | ||
Work force at the end of year | 309,859 | 332,511 | 333,859 | 326,739 | 346,251 | ||
(b) The Local Authority client of the pool bank 1 - Hedge accounting Gaps Before OPE25 aggravating the risk of bankruptcy (Risk covered and losses remaining to be covered in charges and debts after transfer of the amount to the insurer). | |||||||
1 | Forecast of losses based on the pre-OPE25 risk management practices calculation model or on a relative VaR or AMA, limited to unexpected losses (UL) = 15% of the average turnover of the last three years (“N” + “N + 1” + “N + 2”/3 × 15%)] | 14,036,000 | |||||
2 | Maximum amount that can be covered by insurance: “The recognition of the coverage of operational risk losses by insurance cannot exceed 20% before considering the economic capital accounts” (BCBS, October 2010): = 20% of the line above | 2,807,200 | |||||
3 | Losses remaining to be covered by equity after insurance if OPE25 is not implemented | 11,228,800 | |||||