{"id":173914,"date":"2022-06-30T14:37:35","date_gmt":"2022-06-30T14:37:35","guid":{"rendered":"https:\/\/theotcspace.com\/?p=173914"},"modified":"2022-06-30T14:37:35","modified_gmt":"2022-06-30T14:37:35","slug":"simm-falls-short-says-pra","status":"publish","type":"post","link":"https:\/\/theotcspace.com\/simm-falls-short-says-pra\/","title":{"rendered":"SIMM Falls Short says PRA Letter to Banks"},"content":{"rendered":"<h3>SIMM Falls Short says PRA<\/h3>\n<p>In an article over at <a href=\"https:\/\/drs-als.com\/knowledge-hub\/blog\/\" rel=\"nofollow noopener\" target=\"_blank\">DRS<\/a> they explain why the current SIMM model and calibration may not be adequate for the implementation of UMR phase 6 in September. <a href=\"https:\/\/www.bankofengland.co.uk\/prudential-regulation\/letter\/2022\/june\/simm-model\" rel=\"nofollow noopener\" target=\"_blank\">A letter from the Bank of England<\/a> Prudential Regulation Authority sets out their conclusions of a review of the SIMM model.<\/p>\n<p>DRS-ALS comments: &#8220;<em>Even assuming a sound initial framework, all financial models are subject to drift, constant monitoring and re-calibration to fact are essential. The RTS requires P&amp;L back testing, ISDA recommend it, the PRA\u2019s letter makes it abundantly clear that firms must use the SIMM responsibly and will be found responsible if they do not.<\/em>&#8221;<\/p>\n<p>You can read the commentary from <a href=\"https:\/\/drs-als.com\/simm-falls-short%EF%BF%BC\/\" rel=\"nofollow noopener\" target=\"_blank\">DRS-ALS over here<\/a>.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SIMM Falls Short says PRA &#8211; In an article over at DRS they explain why the current SIMM model and calibration may not be adequate for the implementation of UMR phase 6 in September<\/p>\n","protected":false},"author":1,"featured_media":173918,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2868],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/posts\/173914"}],"collection":[{"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/comments?post=173914"}],"version-history":[{"count":0,"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/posts\/173914\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/media\/173918"}],"wp:attachment":[{"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/media?parent=173914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/categories?post=173914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/tags?post=173914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}