{
  "url": "https://openlegislation.uk/eu-regulation-2018-959",
  "json_url": "https://openlegislation.uk/eu-regulation-2018-959.json",
  "id": "eur/2018/959",
  "title": "Commission Delegated Regulation (EU) 2018/959 of 14 March 2018 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards of the specification of the assessment methodology under which competent authorities permit institutions to use Advanced Measurement Approaches for operational risk (Text with EEA relevance)",
  "short_title": "Regulation (EU) 2018/959 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the…",
  "long_title": "Commission Delegated Regulation (EU) 2018/959 of 14 March 2018 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards of the specification of the assessment methodology under which competent authorities permit institutions to use Advanced Measurement Approaches for operational risk (Text with EEA relevance)",
  "citation": "EU Regulation 2018/959",
  "type": "eur",
  "year": "2018",
  "number": "959",
  "version": "current",
  "date": "2018-03-14",
  "revised": false,
  "valid_from": null,
  "extent": "E+W+S+N.I.",
  "unapplied_effects": 1,
  "provisions": [
    {
      "path": "introduction",
      "kind": "introduction",
      "number": null,
      "heading": "Introductory text",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/introduction",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "chapter/1",
      "kind": "chapter",
      "number": "1",
      "heading": "GENERAL PROVISIONS",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "article/1",
      "kind": "article",
      "number": "1",
      "heading": "Assessment of Advanced Measurement Approaches",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-1",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/1"
    },
    {
      "path": "article/2",
      "kind": "article",
      "number": "2",
      "heading": "Definitions",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-2",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/1"
    },
    {
      "path": "article/3",
      "kind": "article",
      "number": "3",
      "heading": "Operational risk events related to legal risk",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-3",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/1"
    },
    {
      "path": "article/4",
      "kind": "article",
      "number": "4",
      "heading": "Operational risk events related to model risk",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-4",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/1"
    },
    {
      "path": "article/5",
      "kind": "article",
      "number": "5",
      "heading": "Operational risk events related to financial transactions including those related to market risk",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-5",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/1"
    },
    {
      "path": "article/6",
      "kind": "article",
      "number": "6",
      "heading": "Quality and auditability of documentation",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-6",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/1"
    },
    {
      "path": "chapter/2",
      "kind": "chapter",
      "number": "2",
      "heading": "QUALITATIVE STANDARDS",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "chapter/2/section/1",
      "kind": "section",
      "number": "1",
      "heading": "Governance",
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      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/2"
    },
    {
      "path": "article/7",
      "kind": "article",
      "number": "7",
      "heading": "Operational risk management process",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-7",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/2/section/1"
    },
    {
      "path": "article/8",
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      "heading": "Independent operational risk management function",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-8",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/2/section/1"
    },
    {
      "path": "article/9",
      "kind": "article",
      "number": "9",
      "heading": "Senior management involvement",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-9",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/2/section/1"
    },
    {
      "path": "article/10",
      "kind": "article",
      "number": "10",
      "heading": "Reporting",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-10",
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      "status": null,
      "parent": "chapter/2/section/1"
    },
    {
      "path": "chapter/2/section/2",
      "kind": "section",
      "number": "2",
      "heading": "Use test",
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      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/2"
    },
    {
      "path": "article/11",
      "kind": "article",
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      "heading": "Use of the AMA",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-11",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/2/section/2"
    },
    {
      "path": "article/12",
      "kind": "article",
      "number": "12",
      "heading": "Continuous integration of the AMA",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-12",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/2/section/2"
    },
    {
      "path": "article/13",
      "kind": "article",
      "number": "13",
      "heading": "AMA used to support the operational risk management of the institution",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-13",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/2/section/2"
    },
    {
      "path": "article/14",
      "kind": "article",
      "number": "14",
      "heading": "AMA used to enhance the operational risk organization and control of the institution",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-14",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/2/section/2"
    },
    {
      "path": "article/15",
      "kind": "article",
      "number": "15",
      "heading": "Comparison of the AMA with the less sophisticated approaches",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-15",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/2/section/2"
    },
    {
      "path": "chapter/2/section/3",
      "kind": "section",
      "number": "3",
      "heading": "Audit and internal validation",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/2"
    },
    {
      "path": "article/16",
      "kind": "article",
      "number": "16",
      "heading": "Audit and internal validation functioning",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-16",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/2/section/3"
    },
    {
      "path": "article/17",
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      "heading": "Audit and internal validation governance",
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      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/2/section/3"
    },
    {
      "path": "chapter/2/section/4",
      "kind": "section",
      "number": "4",
      "heading": "Data quality and IT infrastructure",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/2"
    },
    {
      "path": "article/18",
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      "heading": "Data quality",
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      "status": null,
      "parent": "chapter/2/section/4"
    },
    {
      "path": "article/19",
      "kind": "article",
      "number": "19",
      "heading": "Supervisory assessment of IT infrastructure",
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      "status": null,
      "parent": "chapter/2/section/4"
    },
    {
      "path": "chapter/3",
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      "heading": "QUANTITATIVE STANDARDS",
      "url": null,
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      "status": null,
      "parent": null
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    {
      "path": "chapter/3/section/1",
      "kind": "section",
      "number": "1",
      "heading": "Use of internal data, external data, scenario analysis and BEICF (‘the four elements’)",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/3"
    },
    {
      "path": "article/20",
      "kind": "article",
      "number": "20",
      "heading": "General principles",
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      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/3/section/1"
    },
    {
      "path": "chapter/3/section/1/SUB/SECTION/1",
      "kind": "subsection",
      "number": "SUB-SECTION 1",
      "heading": "Internal data",
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      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/3/section/1"
    },
    {
      "path": "article/21",
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      "heading": "Internal data features",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-21",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/3/section/1/SUB/SECTION/1"
    },
    {
      "path": "article/22",
      "kind": "article",
      "number": "22",
      "heading": "Scope of operational risk loss",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-22",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/3/section/1/SUB/SECTION/1"
    },
    {
      "path": "article/23",
      "kind": "article",
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      "heading": "Recorded loss amount of the operational risk items",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-23",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/3/section/1/SUB/SECTION/1"
    },
    {
      "path": "article/24",
      "kind": "article",
      "number": "24",
      "heading": "Operational risk losses that are related to credit risk",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-24",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/3/section/1/SUB/SECTION/1"
    },
    {
      "path": "article/25",
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      "heading": "External data",
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      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/3/section/1/SUB/SECTION/1"
    },
    {
      "path": "article/26",
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      "heading": "Scenario analysis",
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      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/3/section/1/SUB/SECTION/1"
    },
    {
      "path": "article/27",
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      "heading": "Business Environment and Internal Control Factors",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-27",
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      "status": null,
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      "path": "chapter/3/section/2",
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      "heading": "Core modelling assumptions of the operational risk measurement system",
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      "status": null,
      "parent": "chapter/3"
    },
    {
      "path": "article/28",
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      "heading": "General assessment",
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      "status": null,
      "parent": "chapter/3/section/2"
    },
    {
      "path": "article/29",
      "kind": "article",
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      "heading": "Building the calculation data set",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-29",
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      "status": null,
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    },
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      "path": "article/30",
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      "heading": "Granularity",
      "url": "https://openlegislation.uk/eu-regulation-2018-959/article-30",
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      "status": null,
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    {
      "path": "article/31",
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      "heading": "Identification of the loss distributions",
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      "status": null,
      "parent": "chapter/3/section/2"
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    {
      "path": "article/32",
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      "extent": "E+W+S+N.I.",
      "status": null,
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    },
    {
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      "heading": "Expected loss and Correlation",
      "url": null,
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      "status": null,
      "parent": "chapter/3"
    },
    {
      "path": "article/33",
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      "heading": "Expected losses",
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      "status": null,
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      "heading": "Correlation",
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      "status": null,
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      "status": null,
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      "heading": "Consistency of the operational risk measurement system",
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      "status": null,
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    },
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      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "article/36",
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      "heading": "General principles",
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      "status": null,
      "parent": "chapter/4"
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      "path": "article/37",
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      "heading": "Authorisation equivalence of the insurance provider",
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      "path": "article/39",
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      "heading": "Multiple counting of risk mitigation techniques",
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