II Introduction
On 15 May 2014, the Bank Recovery and Resolution Directive2 (BRRD...reserves;
c) the value of shares and other Common Equity Tier 1 instruments;
...
• There is always an equivalent εt to match it despite fixed ψ
DEC June 2025 7...variables
• Define the market forecast error of z :
ez
t = zt −E[ zt ]
DEC June 2025...
