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The PRA defines a as any quantitative method or system that applies theories and assumptions to process input data into output. Principle 2: Governance

Firms must maintain a complete inventory of all "models" in use. Download Ss123 2022 zip

The SS1/23 Supervisory Statement (published in May 2023, following consultations in 2022) focuses on five core principles to ensure firms identify, assess, and mitigate risks from quantitative models: The PRA defines a as any quantitative method