FRTB Programme: Focus On Documentation
Most firms with a Trading Book are now pressing ahead with implementing the new Basel Market Risk Rules – still widely known as the Fundamental Review of the Trading Book (FRTB) – and the documentation that goes with it.
But some smaller or medium-sized firms might not have really started yet. Nor might overseas subsidiaries. Or other firms who’ve been outside the scope of Basel’s intensive – and challenging – Quantitative Impact Studies (QIS) in the last three years.
Such firms will soon be planning their implementation. Or need to be. This blog looks to help, by focusing on the references to documentation in the new rules.
At Prism-Clarity we believe in the power of good documentation to highlight wider issues. We don’t believe in doing the documentation piece of a programme as an afterthought, a side-project or an inconvenience. It is and should be central.
By focusing early on the documentary outputs needed under the new rules, you can identify issues, ask good questions about your business, risk, other controls and technology, avoid false paths and potentially save costs.
Work backwards from the documentation to help shape your wider FRTB programme, or verify that your programme is on the right track.
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