Sets the expectations for governance, controls and risk management over the valuation of fair-valued positions in the banking and trading books: the supervisory approach, the key supervisory expectations (governance, valuation controls, independent price verification), the elements of a sound valuation process (relevant and reliable inputs, methodologies, assessment of valuation uncertainty, valuation adjustments, third-party valuations), model risk management, financial reporting and disclosure, and the HKMA's review. Classification: a non-statutory guideline issued as a guidance note; version V.3, 13.12.24; applies to all AIs.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.