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Solvency-triggered termination rights clauses in bulk purchase annuity transactions
The Prudential Regulation Authority’s (PRA) letter to Chief Risk Officer to share the PRA’s view of the potential risks arising from the use of solvency-triggered termination rights clauses (STTRs) in bulk purchase annuity (BPA) transactions and our assessment of how firms are mitigating the risks involved.
Chief Risk Officer letter
