This policy interest is one reason why it is desirable to establish minimum qualifying criteria for the use of approaches that rely on internally generated data, whether they might be the Advanced IRB approach for credit risk or the Advanced Measurement Approach (AMA) for operational risk.
On the other hand, we do not want these qualifying criteria to so constrict the development of internal methodologies that we end up stifling their creative evolution. As I noted, the balance between flexibility and comparability is clearly a central issue in the design of a framework such as Basel II.