The assessment under which the competent authorities permit an institution to use Advanced Measurement Approaches (AMA) shall confirm that:
the elements in Articles 3 to 6 are fulfilled;
Chapters 2 and 3 are fulfilled;
Chapter 4 is fulfilled where the institution has adopted the insurance and other risk transfer mechanisms referred to therein.
Chapters 1 to 4 shall be taken into account where competent authorities conduct the following:
an assessment of the materiality of extensions and changes to the AMA used by an institution;
an assessment of the sequential implementation plan to the AMA used by an institution;
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;
the ongoing reviews of an AMA used by an institution.
Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.
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Status: In this content, we have included all amendments made by EU exit-related instruments up to end September 2020. There will be more amendments to be made later this year, further to the September QCP.