The Committee of European Banking Supervisors shall establish guidelines in order to ensure a convergent use of estimates of PD and LGD as inputs when those estimates are based on the approach set out in point 5a of Annex V.

9. Strongly criticises the Commission’s overall approach in its communication on the 2013 country-specific recommendations on ‘combating unemployment’, which focuses on further increasing the flexibility of labour markets and reducing ‘the relatively high costs of labour’, etc.; points out that it was and is these neo-liberal ‘structural reforms’ of labour markets pursued by Member States that are responsible for the drastic increase in precarious forms of employment, reduced levels of social protection and the expansion of low-wage sectors so much deplored by the Commission’s Employment Reports, developments that have an extremely negative impact in particular on young people and their ...[+++] employment prospects; calls on the Commission to break with the promotion of neo-liberal structural labour market reforms of the past decades and to elaborate a European Employment Strategy based on the concept of ‘good work’ and the ILO’s Decent Work Agenda, with a strong focus on creating quality and sustainable jobs, phasing out precarious forms of employment, abolishing workfare programmes, promoting quality in work, improving social security, enhancing workers’ rights, promoting shorter collective working time without any loss of wages and reconciling professional and private life; stresses that the revised guidelines should include a specific focus on gender equality, with measures to improve women’s access to the labour market and to ensure equality in employment for women and men;

38. Notes that the economic crisis and so-called austerity measures have led to a reduction in gender equality measures and are an additional obstacle to the application of the principle of gender equality, particularly with regard to job losses, access to new jobs and increased insecurity for women, which, together with the fact that male employment rates tend to recover more quickly than female employment rates, are having a negative impact on women's employment in the service sector and on their careers and pensions; calls on the Commission t ...[+++]o collect data on the impact of austerity measures on women in the labour market, with particular emphasis on the service sector; emphasises the need for greater recognition of the interdependence between social and economic issues, as increased attention to social issues is a prerequisite for effectively addressing gender-based inequalities;

38. Notes that the economic crisis and so-called austerity measures have led to a reduction in gender equality measures and are an additional obstacle to the application of the principle of gender equality, particularly with regard to job losses, access to new jobs and increased insecurity for women, which, together with the fact that male employment rates tend to recover more quickly than female employment rates, are having a negative impact on women’s employment in the service sector and on their careers and pensions; calls on the Commission t ...[+++]o collect data on the impact of austerity measures on women in the labour market, with particular emphasis on the service sector; emphasises the need for greater recognition of the interdependence between social and economic issues, as increased attention to social issues is a prerequisite for effectively addressing gender-based inequalities;

‘class=yellow1>Credit institutions permitted to use owclass=yellow1>n estimates of LGDs and conversion factors for an exposure class under Articles 84 to 89 which do not calculate the value of their exposures using the method referred to in the first subparagraph of this paragraph may use the Financial Collateral Comprehensive Method or the approach set out in Article 117(1)(b) for calculating the value of exposures’.

These stress scenarios shall examine the effects of stress to default rates, recovery rates, credit spreads, and correlations on the profit and loss of the correlation trading desk.