Once a plan to reach full compliance is decided and approved, institutions must report their remediation progress to the CBUAE at regular intervals, as agreed upon with the CBUAE. The CBUAE expects continued and iterative dialogue on this matter during the implementation of the plan and thereafter as modelling requirements evolve.
2.3.2
From the effective date of the MMS, institutions must comply with all CBUAE reporting requirements related to model management. The nature, depth and scope of this reporting may evolve with modelling techniques and economic conditions.