Topic Risk management MaRisk: BaFin publishes English translation
The amended version of the Minimum Requirements for Risk Management (Mindestanforderungen an das Risikomanagement - MaRisk) is now also available in English. BaFin has published the translation on its website.
The revised version of the circular 09/2017 (BA) was published on 27 October 2017; BaFin had adapted it to the new European and international provisions following consultations with the Bundesbank. The MaRisk amendments also incorporate experience acquired by BaFin and the Bundesbank in their day-to-day supervisory activities and in inspections. Key changes relate to data aggregation, risk reporting, risk culture and outsourcing.