FSA slates banks AMA preparation
COVER STORY: A PREVIEW OF A UK INDUSTRY FEEDBACK FORM REVEALS THAT BANKS ARE TOTALLY UNPREPARED FOR AMA IMPLEMENTATION
"Implementation focus continues to be on developing and rolling out data collection tools and techniques," says the paper. "Work on a clear articulation of risk appetite, a stable and responsive model, and relevant, timely, forward-looking management information are significantly less developed. Limited progress has been made in areas such as data quality, correlation, the 'use test', and validation."
Even more disturbingly, the paper says "at present, some firms are taking a minimalist
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