CEBS' AMA and IRB guidelines under fire
LONDON – Industry groups have hit out at the Committee of European Banking Supervisors’ (CEBS) guidelines on implementation, validation and assessment of advanced measurement (AMA) and internal ratings based (IRB) approaches, or ‘Consultation Paper 10’.
In a letter published at the end of October, the European Banking Federation said it "supported CEBS’ objective to provide supervisors with a common understanding of the meaning and the implementation of the minimum requirements," but that "the proposed guidelines fall short of meeting this goal".
"We are particularly disappointed with the high level of detail and prescription incorporated in the paper," the Brussels-based trade association said. "This stands in contradiction to the ‘top-down’
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