159. For this purpose, competent authorities should verify that arrangements are in place to ensure …

For this purpose, competent authorities should verify that arrangements are in place to ensure that business and support units, the first line of defence, will be responsible in the first instance for identifying and managing the risks they incur in conducting their activities and for establishing and maintaining adequate processes and controls to ensure that such risks are analysed, measured, monitored, duly reported and kept within the limits of the credit institution’s risk appetite and that they are in compliance with internal and external regulatory requirements.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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