Commission Delegated Regulation (EU) 2018/959 Article 1: Assessment of Advanced Measurement Approaches

Article 1 - Assessment of Advanced Measurement Approaches

Article 1

Assessment of Advanced Measurement Approaches

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1. The assessment under which the competent authorities permit an institution to use Advanced Measurement Approaches (AMA) shall confirm that:

((a))

the elements in Articles 3 to 6 are fulfilled;

((b))

Chapters 2 and 3 are fulfilled;

((c))

Chapter 4 is fulfilled where the institution has adopted the insurance and other risk transfer mechanisms referred to therein.

2. Chapters 1 to 4 shall be taken into account where competent authorities conduct the following:

((a))

an assessment of the materiality of extensions and changes to the AMA used by an institution;

((b))

an assessment of the sequential implementation plan to the AMA used by an institution;

((c))

an assessment of an institution's return to the use of less sophisticated approaches in accordance with Article 313 of Regulation (EU) No 575/2013;

((d))

the ongoing reviews of an AMA used by an institution.