Which of the following about a stressed VaR, required under Basel II.5, is correct? The stressed VaR must be calculated using a 99.9% confidence interval. Basel II. 5 has established the year 2008 as the "stress" period. All banks use data from 2008 to calculate the stressed VaR. The stressed VaR replaces the "normal" VaR for the purpose of calculating capital for credit risks. Market risk capital under Basel II. 5 should be at least double that of market risk capital under Basel II due to the addition of the stressed VaR. If the VaR is at a 95% confidence level, the VaR in a sample of 1,000 data points is: the 95th highest loss observation in the sample. the 50th highest loss observation in the sample. the 5th highest loss observation in the sample. the 51st highest loss observation in the sample. Which of the following is not a lesson of the 2007-2009 Global Financial Crisis for risk management practices? Liquidity risk should be better appreciated and maturity mismatch should be reduced if over and above risk appetite. Credit and market risk model risk should be addressed to reduce overreliance on historical assumptions in evaluating exposures. Securitisation instruments should be phased out to avoid further market volatility and risk transfers between firms in the future. Systemic risk should be managed to prevent close interconnection between financial institutions to have an industry-wide impact