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+Guideline 3: Formula |
Guideline 3: Formula3.1 To calculate the minimum monetary amount of the PII or comparable guarantee to be held by undertakings, competent authorities should use the following formula: Minimum monetary Amount Amount Amount reflective of amount of PII reflective of type or comparable = reflective of risk + of activity + size of activity profile criterion criterion guarantee criterion 3.2 To calculate the minimum monetary amount of the PII or comparable guarantee, competent authorities should populate the indicators under each criterion with the relevant values as specified in Guidelines 5 to 7, they should calculate the amount reflective of each criterion separately by adding up the amounts reflective of the indicators and they should use the resultant amounts in the formula. 3.3 Values in these Guidelines are expressed in euros. In Member States where the official currency is not the euro, competent authorities may convert the amounts reflective of the criteria into the national currency equivalent. 3.4 The minimum monetary amount of the PII or comparable guarantee calculated by competent authorities, and by implication also by undertakings that apply for authorisation or registration, should be expressed as a figure per year. 1. Overview
1.1 References1.2 Identified Requirements1.3 Related Standards2. Identified Requirements
3. Related Standards
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