According to the Basel Committee which of the options below is NOT a qualitative standard that a bank must meet before it is permitted to use the Advanced Measurement Approach (AMA) for operational risk capital:
A. Internal and/or external regulators must perform regular reviews of the operational risk management processes and measurement systems. This review must include both the activities of the business units and of the independent operational risk function
B. There must be regular reporting of operational risk exposures and loss experiences to business unit management, senior management and to the board of directors
C. The bank's internal operational risk measurement system should not be integrated into the day-to-day risk management processes of the bank but should provide a general overview of the operational risks involved in the processes and operations
D. The bank must have an independent operational risk management function that is responsible for the design and implementation of the bank's operational risk framework.