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Methods used need to be proportionate and ways to determine it

For each currency and each country the spread referred to in Article 77d(2) and (4) of Directive 2009/138/EC shall be equal to the following:S=w_gov * max(S_gov,0) + w_corp * max (S_corp, 0)where:(a) w_govgov denotes the ratio of the value of government bonds included in the reference portfolio of...