SR 11-7 is U.S. banking supervisory guidance on model risk management issued by the Federal Reserve and OCC in 2011. It expects banks to manage model risk through governance, inventory, validation, performance monitoring, controls, and documentation. It is often relevant when automated analytics or AI influence risk decisions.
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Glossary term
What is SR 11-7?
SR 11-7 is U.S. banking supervisory guidance on model risk management issued by the Federal Reserve and OCC in 2011. It expects banks to manage model risk through governance, inventory, validation, performance monitoring, controls, and documentation. It is often relevant when automated analytics or AI influence risk decisions.