Board of Governors of the Federal Reserve System

key difference between the global market shock and the severely adverse...key inputs to the pricing of interest rate derivatives; • Futures prices

the “agencies”) are issuing this revised model risk management guidance

key findings and proposes areas for further research and analysis. Section...key technical and payment processing functions. The BIS Report on open

the uniform agreement) with the guid- ance contained in the Commercial...key elements and practices associated with sound liquidity-risk management

and, where necessary, mitigating their exposure to potential increases...key underlying assumptions driving the institution’s IRR analysis; • Sufficiently

and, depending on the maturity of deposits, incomplete. Taking a closer...the difference between interest earned on loans and other investments,

the importance of fundamentals in risk management--should still resonate...compared with long-standing activities or markets. Second, risk concentrations

for, our stress testing and CCAR exercises. As you can imagine, we received...key issues for consideration, and presented us with some other areas for

over-the-counter derivatives markets. Critical concepts such as value-at-risk...price relevant risks before loan origination. Other tools include proprietary

compare with yours. I'll get to that. But first, let me offer the customary...the Board of Governors--in Washington and, in twelve major cities, the