An application form is available for submitting a request for permission to use an internal model for market risk. The application form provides an overview of the information which De Nederlandsche Bank (DNB) considers relevant, in principle, for its assessment of the application.
Pursuant to Article 77 of the Decree on Prudential Rules for Financial Undertakings (Besluit Prudentiële Regels Wft), a financial undertaking must obtain permission from DNB before using an internal model for the calculation of the amount of required solvency against market risk. Practice has shown that there is a need for further elaboration of the manner in which the financial undertaking should submit the relevant application to DNB. For that purpose, an application form has been made available by DNB providing a guideline for the submission of the application.
The fact that the application is submitted by means of the application form does not rule out that, in appropriate cases, DNB may submit a reasoned request to the financial undertaking concerned for supplementary information. Any such request by DNB will be submitted in writing to the financial undertaking.