Both camps have to adapt their way of reasoning: supervisors when analysing data coming from undertakings, the latter when, for example, performing the Own Risk and Solvency Assessment (ORSA). A second key point is what I consider now the top priority for the supervisory community in the EU: harmonization and convergence of supervisory practices.
The Fund responded with expansion of its memberships from 40 to 184, augmentation of quota size by almost 37 folds and allocations of Special Drawing Rights (SDR) between late 1960s and 1980s. However, these phenomenal developments haven’t been accompanied by fundamental improvement of the governance structure within the Fund.