40. In view of having internal governance arrangements pursuant to Article 74 and 88 of Directive …

In view of having internal governance arrangements pursuant to Article 74 and 88 of Directive 2013/36/EU, institutions should, in relation to IRRBB, ensure the following:

• (a) That their management body bears the ultimate responsibility for the oversight of the IRRBB management framework, the institution’s risk appetite framework and the amounts, types and distribution of internal capital to adequately cover the risks. The management body should determine the institution’s overall IRRBB strategy and approve the corresponding policies and processes. The management body may, however, delegate the monitoring and management of IRRBB to senior management, expert individuals or an asset and liability management committee under the conditions further specified in paragraph 41.
• (b) That they have in place an IRRBB management framework that establishes clear lines of responsibilities and that consists of a limit system, policies, processes and internal controls including regular independent reviews and evaluations of the effectiveness of the framework.

1. Forbhreathnú

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

3. Caighdeáin ghaolmhara

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