Guidance

SS14/13 – Operational risk

Chapter

Introduction

Printed on: 06/11/2024

Rulebook at: 19/12/2013

1

Introduction

1.1

This supervisory statement is aimed at firms to which CRD IV applies.

  • 19/12/2013

1.2

This statement sets out the Prudential Regulation.

Authority’s (PRA’s) expectations on the extent to which the Advanced Measurement Approach (AMA) should capture the firms’ operational risks where the firm has, or is about to, implement AMA.  This is relevant where the AMA is applied across only part of a firm’s operations and is used in conjunction with either the Basic Indicator Approach (BIA), or the Standardised Approach (TSA).  This statement also sets out the PRA’s expectation of SIF attestation of the firm’s compliance with AMA standards.

  • 19/12/2013

1.3

This statement should be read in conjunction with CRR.

Article 314(3) and the high-level expectations outlined in The PRA’s approach to banking supervision.[1]

  • 19/12/2013