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Debate: Negative interest rates
Debate : Negative interest rates
Some possible considerations for discussion :
- Negative interest rates can be considered as an economic anomaly and a consequence of a thoughtless policy of the Central Bank.
- Negative interest rates appear in shorter duration, even if we exceed more than 4 yeas today, it still not an economic reality Discounting
- The interest curve used by the actuary depends on the context : can the actuary chose the interest curve, has the actuary to respect the prescribed curve ?
- Actuaries should in any case explicitly refer to the negative interest rate reserve.
- Not only the level of the interest rate is important, the volatility has also to be considered Actuarial practice
- The normative framework and professional judgement determine the actuarial practice
- What is the attitude of the stakeholders, insurance companies, pension funds, … ?
- EIOPA is looking for solutions
- SII is not the only problem : corporate valuation, solvency, accounting, pricing, reserving, financial transactions, “usufruit”, indicative tables, … are impacted
Any other matter