  We study the two band degenerate Hubbard model using the Fluctuation Exchange
approximation (FLEX) method and compare the results with Quantum Monte-Carlo
calculations. Both the self-consistent and the non-self-consistent versions of
the FLEX scheme are investigated. We find that, contrary to the one band case,
in the multiband case, good agreement with the Quantum Monte-Carlo results is
obtained within the electron-electron T-matrix approximation using the full
renormalization of the one-particle propagators. The crossover to strong
coupling and the formation of satellites is more clearly visible in the
non-self-consistent scheme. Finally we discuss the behavior of the FLEX for
higher orbital degeneracy.
