BoE: UK banks falling short on stress-test model risk
Recent guidance on stress-test models could be expanded, says BoE exec
The Bank of England’s recent guidance on model risk management standards for stress-test models was prompted by concern about weak governance at some UK lenders, a senior executive at the Prudential Regulatory Authority has said.
Speaking on May 24 at a conference in London, Diederick Potgieter, a risk specialist at the PRA, said the growing sophistication of banks’ stress-testing frameworks since the BoE began its programme in 2014 had not been met with an improvement in the quality of their
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