Sets the minimum risk management and control standards for using the fair value option: application of the option in form and in substance, risk management systems, policies, procedures and controls, valuation policies and independent verification of models, independent monitoring, reliable fair values and independent price verification, internal and external audit review, and the HKMA's evaluation and approval process. Superseded in part by CA-S-10 for valuation practices. Classification: a non-statutory guideline issued as a guidance note; version V.1, effective 1 January 2007; applies to AIs applying the fair value option for capital base purposes.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.