Minimum requirements for risk management (MaRisk)

Regulations issued by the German Federal Financial Supervisory Authority in 2005 in anticipation of the corresponding provisions of Basel II on how banks should keep their risks manageable and under control. MaRisk fleshes out Section 25a of the German Banking Act (KWG) by specifying requirements for “proper business organization” and “appropriate internal control procedures”. They dispense with excessive documentation requirements and are designed to be flexible by incorporating general and opening clauses – See Basel-II, emerging markets, function, loan securitization, monitoring, traceability, risk department, risk weighting, risk control, risk measurement procedures, risk reporting, risk monitoring, structured, scenarios, exceptional. – Cf. 2004 BaFin Annual Report, p. 96, p. 102 et seq. (revised Section 25a of the German Banking Act; modular structure of MaRisk; expert committee), 2007 BaFin Annual Report, p. 114 et seq. (inclusion of outsourcing rules in MaRisk, intention and execution of outsourcing no longer to be reported to BaFin), 2008 BaFin Annual Report, p. 74 et seq. (MaRisk for insurers published in January 2009), p. 111 et seq. (further development of MaRsik), BaFin Annual Report 2009, p. 125 ff. (revision following identified need for adjustment), as well as the respective BaFin Annual Report, chapter “Supervision of Banks, Financial Service Providers and Payment Institutions,” Monthly Report of the Deutsche Bundesbank of June 2006, p. 39 f. (calculation of concentration risks), Monthly Report of the Deutsche Bundesbank of December 2007, p. 57 ff. (in-depth presentation), Deutsche Bundesbank Monthly Report of September 2008, pp. 71 f. (diversification requirement; breakdown according to the degree of liquidity of assets; reporting to the Executive Board), ECB Annual Report 2008, pp. 123 ff. (new regulations relating to transactions with the ECB), , Deutsche Bundesbank Annual Report 2009, pp. 109 f. (regulatory innovations), BaFin Annual Report 2010, pp. 136 ff. (amendment to MaRisk; important innovations), p. 189 (InvMaRisk for investment companies of BaFin), Annual Report 2012 of Deutsche Bundesbank, p. 100 f. (MaRisk were revised), Annual Report 2012 of BaFin, p. 123 f. (amendment outlined in its main features and justified), Annual Report 2013 of BaFin, p. 44 (organizational maladministration can also have consequences under criminal law).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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