D. whereas action against poverty requires above all a radical change of policy in both industrialised and developing countries in order to address the structural causes of poverty, including unfair world trade rules, unaffordable debt payments by developing countries to international financial institutions, and unfair distribution of wealth,

D. whereas action against poverty requires above all a radical change of policy in both industrialised and developing countries in order to address the structural causes of poverty, including unfair world trade rules, unaffordable debt payments by developing countries to international financial institutions, and unfair distribution of wealth,

The competent authorities may allow the requirement against a written exchange‐traded option to be equal to the margin required by the exchange if they are fully satisfied that it provides an accurate measure of the risk associated with the option and that it is at least equal to the capital requirement against an option that would result from a calculation made using the method set out in the remainder of this Annex or applying the internal models method described in Annex V. The competent authorities may also allow the capital requirement for an OTC option cleared by a clearing house recognised by them to be equal to the margin requir ...[+++]ed by the clearing house if they are fully satisfied that it provides an accurate measure of the risk associated with the option and that it is at least equal to the capital requirement for an OTC option that would result from a calculation made using the method set out in the remainder of this Annex or applying the internal models method described in Annex V. In addition they may allow the requirement on a bought exchange‐traded or OTC option to be the same as that for the instrument underlying it, subject to the constraint that the resulting requirement does not exceed the market value of the option. The requirement against a written OTC option shall be set in relation to the instrument underlying it.

The competent authorities may allow the capital requirement for an exchange‐traded future to be equal to the margin required by the exchange if they are fully satisfied that it provides an accurate measure of the risk associated with the future and that it is at least equal to the capital requirement for a future that would result from a calculation made using the method set out in this Annex or applying the internal models method described in Annex V. The competent authorities may also allow the capital requirement for an OTC derivatives contract of the type referred to in this point cleared by a clearing house recognised by them to be ...[+++] equal to the margin required by the clearing house if they are fully satisfied that it provides an accurate measure of the risk associated with the derivatives contract and that it is at least equal to the capital requirement for the contract in question that would result from a calculation made using the method set out in the this Annex or applying the internal models method described in Annex V.

33. Supports the call by the UN Secretary-General at the 2005 High Level Dialogue on Finance for Development to redefine debt sustainability as the level of debt that allows a country to achieve the MDGs by 2015 without an increase in debt ratios, which requires greater complementarity between debt relief and outstanding development financing requirements; regrets therefore that in the new Debt Sustainability Framework for Low-Income Countries approved in April 2005, the IMF continues to define debt sustainability essentially in terms of export ratios (which is an unreliable predictor of debt sustainability for countries characterised b ...[+++]y an extreme vulnerability to shock and steep fluctuations in export earnings), that it lacks realistic assessments of vulnerability and that there is no systematic analysis linking the benefits of the HIPC Initiative and the extra funds needed to achieve the MDGs;

5. Supports the call by the UN Secretary-General at the 2005 High Level Dialogue on Finance for Development to redefine debt sustainability as the level of debt that allows a country to achieve the MDGs by 2015 without an increase in debt ratios, which requires greater complementarity between debt relief and outstanding development financing requirements; regrets therefore that in the new Debt Sustainability Framework for Low-Income Countries approved in April 2005, the IMF continues to define debt sustainability essentially in terms of export ratios (which is an unreliable predictor of debt sustainability for countries characterised by ...[+++] an extreme vulnerability to shock and steep fluctuations in export earnings), that it lacks realistic assessments of vulnerability and that there is no systematic analysis linking the benefits of the Debt Initiative for Heavily Indebted Poor Countries (the HIPC initiative) and the extra funds needed to achieve the MDGs;