Citi receives AMA approval

LONDON - Citi is the first financial institution in the UK to receive approval for the advanced measurement approach (AMA) under the Basel II Accord.

Citi's waiver application from Section 6.2.1 of the Prudential Source Book for Banks, Building Societies and Investment Firms went before a review panel at the end of May, and the bank received formal approval of its AMA model in July, which was published on the FSA website in August. Citi kept to its implementation schedule, regardless of delays over Basel II in the US.

"We had always aspired to adopt the most advanced approaches for the management and measurement of both credit and operational

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