72. The validation framework should include the following four core elements: (a) evaluation of …

The validation framework should include the following four core elements:

• (a) evaluation of conceptual and methodological soundness, including developmental evidence;
• (b) ongoing model monitoring, including process verification and benchmarking;
• (c) outcomes analysis, including back-testing of key internal parameters (e.g. stability of deposits, loan prepayment rates, early redemptions of deposits, pricing of instruments); and
• (d) thorough assessment of any expert opinions and judgements used in internal models.

1. Forbhreathnú

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

3. Caighdeáin ghaolmhara

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