ERM


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ERM

Exchange Rate Mechanism

Used prior to the adoption of the euro, a method for reconciling differing exchange rates between currencies, allowing participation in the single European currency. Established in 1979, it was known as a "semi-pegged" system in which currencies were variable with respect to each other only within a certain range. After the introduction of the euro in 1999, the exchange rate mechanism was replaced by ERM II, which reconciles exchange rates for countries wishing to join the eurozone.
References in periodicals archive ?
Identifying, analyzing, prioritizing, dashboarding, reporting--the day-to-day tasks of running an enterprise risk program can make the ERM road pretty wide.
For some businesses in Arkansas, ERM is already in effect or underway.
Why don't more government agencies implement ERM programs?
Obviously, if executive management does not feel that ERM provides value to the organization, it is doomed.
Business Minister Edwina Hart with Steve Matthews, ERM's managing partner in Wales and Ireland and Geraint Bowden, head of ERM UK's regeneration services
RPM practiced well legitimately advances ERM to the strategic decision-making level of the company.
But earlier versions of the ERM framework were presented in such a complicated format that it made it difficult to translate the concepts for many universities.
For Phelps, the fall of AIG stands out as a "classic example" of how ERM can fail when not implemented comprehensively.
To communicate what I needed in ERM, I created a chart showing the tables and data fields I imagined would be needed; the green and purple boxes represented Microsoft Access tables.
In a recent development, credit ratings agencies have integrated ERM as an element of their overall analysis of corporate creditworthiness.
Among the reasons why ERM will be important going forward are the potential ratings impact on both the reinsurer and on any direct writers that it works with; the ability of a direct writer to get reinsurance if ratings are impacted because of ERM; and the price that a direct writer will be able to buy reinsurance.