Regulatory Alerts2006-06-13
Added · Updated
Guidance Notice for Applications to Use an Advanced Measurement Approach for Operational Risk
The Federal Financial Supervisory Authority (BaFin) mandates that German financial institutions submit written applications and undergo on-site examinations to secure prior approval for calculating operational risk capital charges using an Advanced Measurement Approach. Applicants must submit complete documentation, including a detailed AMA requirements list and implementation schedule, with approvals processed on a first-come, first-served basis beginning in 2007. Approved institutions bear examination costs and must maintain compliant risk management frameworks through continuous supervisory monitoring until full regulatory implementation in 2008.
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