Financial Stability, Regulation & Supervision

PRA ‘raises the bar’ on model risk management

By Marie Kemplay
Image: Getty Images

The UK’s Prudential Regulation Authority (PRA) has published detailed principles for banks to follow on managing their model risk.

The PRA’s supervisory statement published on 17 May contains few surprises, according to several market participants, who suggested the consultation process initiated last year had given a clear indication that robust standards ...

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