Specific and incremental risk

[shanlane]

Hello,

I am sorry to ask another bad question, but I keep reading about the use of specific and incremental risks in capital charges but cannot see exactly where they fit in as far as the standardized approach or IMA is concerned. Do these two charges just get added to the VaR + Stressed VaR or are they already included in the IMA approach?

Also, will what do we need to know about how securitizations are treated under different models for either market risk or credit risk?

Thanks!

Shannon