‘(b)

an institution shall have a risk control unit that is independent from business trading units and that reports directly to senior management; that unit shall: be responsible for designing and implementing any internal risk-measurement model used in the alternative internal model approach for the purposes of this Chapter; be responsible for the overall risk management system; produce and analyse daily reports on the output of any internal model used to calculate own funds requirements for market risk, and on the appropriateness of measures to be taken in terms of trading limits;’

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.