SMA vs AMA: A Critical Review of Approaches in Operational Risk

This paper, in Spanish, criticizes the Basel Committee's proposal to replace the Advanced Measurement Approach (AMA) for operational risk capital with the Standardized Measurement Approach (SMA). SMA is argued to be flawed due to instability, insensitivity to risk, and potential for systemic risk. The paper advocates for maintaining the AMA framework and proposes standardized recommendations for internal operational risk modeling.