Pattern

Financial services Model Risk Management (SR 26-2, successor to SR 11-7)

Establish supervisory expectations for managing risk associated with quantitative models used by financial institutions, originally focused on credit and market risk models and applied by banks to AI/ML models. SR 11-7 predated modern AI by over a decade; its April 2026 replacement keeps the core discipline (model development, validation, ongoing monitoring, governance), which maps onto traditional AI/ML model management directly, but excludes generative and agentic AI from its scope.

Classification US financial services framework for managing risk from quantitative models, including AI/ML models.