The EBA launched a public consultation on standards on joint decisions on approval of internal models. The ITS on joint decisions relate to the approval of internal models and detail the processes to be followed by competent authorities when reaching joint decisions.
The EBA is consulting on draft ITS on joint decisions on prudential requirements (internal models), which specify the joint decision processes to be followed when deciding on whether to grant permissions for institutions to use the internal-ratings based approach (IRB) for credit risk, the internal model method for counterparty risk (IMM), the advanced measurement approach for operational risk (AMA) and the internal models for market risk. They also detail the process for the approval of material model changes.
These standards aim at facilitating the interaction and cooperation between authorities at EU and global level and strengthening supervision of cross-border banking groups across the EU, while performing this task in an efficient and consistent way.
Deadline for comments 3 October 2014.
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