"[...] The definition of model also covers
quantitative approaches whose inputs are partially or wholly qualitative or based on
expert judgment, provided that the output is quantitative in nature. [While outside the scope of this guidance, more qualitative approaches used by banking organizations — i.e., those not defined as models according to this guidance — should also be subject to a rigorous control process.] Models are simplified representations of real-world relationships among observed characteristics, values, and events. [...]" (Board of Governors of the Federal Reserve System, 2011).
Keywords:
rigor in process,
model,
rigor
Português:
definição de modelo
US Guidance on
Model Risk Management (SR 11-7). Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency, 4 April 2011. Available from <
http://www.ilanet.com.br/portal/pub/Express/Model/sr1107a1.pdf >. access on 5 January
2023.
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GregorioIvanoff - 19 Jan 2023
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