Version date: November 2022
CONTENTS
| INTRODUCTION |
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| Section 1 | Context and Objectives |
| Section 2 | Implementation |
| PART I – GENERAL STANDARDS |
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| Section 3 | General Standards |
| PART II – APPLICATION OF THE STANDARDS |
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| Section 4 | Model Governance |
| Section 5 | Data Management |
| APPENDIX |
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| Numerical thresholds |
TABLE OF CONTENTS
| Definitions and interpretations | 5 |
| 1 Context and objectives | 11 |
| 6 | Model Development | 34 |
| 6.2 | Data preparation and representativeness | 34 |
DEFINITIONS AND INTERPRETATIONS
The following terms shall have the meaning assigned to them for the purpose of interpreting these Standards and the related Guidance:
- Board: As defined in the CBUAE's Corporate Governance Regulation for Banks.
- Causality (written in lower case as "causality"): Relationship between cause and effect. It is the influence of one event on the occurrence of another event.
- CBUAE: Central Bank of the United Arab Emirates.
- Correlation (written in lower case as "correlation"): Any statistical relationship between two variables, without explicit ca...