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Recital 9

Recital 9

(9)The quality of data and the accuracy of risk estimation and of calculation of own funds requirements for market risk are highly dependent on the reliability of the IT systems used for that purpose. Equally, the continuity and consistency of the risk management processes and the calculation of own funds requirements for market risk can only be ensured where such IT systems are safe, secure, and reliable, and where the IT infrastructure is sufficiently robust. It is therefore necessary that, when assessing the market risk internal models, competent authorities also check the reliability of the institution’s IT systems and the robustness of the IT infrastructure used for the internal models.

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