Financial Services Authority issue latest guidance on Advanced Measurement Approaches to operational risk
FSA reinforce their commitment to full implementation of the AMA sections of the CRD
Almost a year ago, the Financial Services Authority (FSA) realised that the industry was nowhere near ready to meet the demands of the Capital Requirements Directive (CRD). In publishing their CRD industry feedback in March this year, the FSA believed they would press firms into embracing the new directive especially the Advanced Measurement Approach (AMA), which some were considering applying for.
However, according to a recent report to their operational risk standing group, the FSA believes
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