OpRisk North America: Regulators to scrutinise use of external loss data in risk models
Fed’s Marco Migueis says long-awaited AMA guidance will outline how to combine internal and external data
US banks can expect greater scrutiny from regulators around their use of external loss data to build operational risk models in the forthcoming guidance on the advanced measurement approach (AMA) soon to be released by the Federal Reserve.
Speaking during a panel discussion at OpRisk North America in New York on Wednesday, Marco Migueis, an economist in the department of banking supervision and regulation at the Federal Reserve Board, told delegates that the repeatedly delayed AMA guidance from
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