Article 1 Assessment of Advanced Measurement Approaches
United Kingdom
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.