(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