26. To fulfil these responsibilities, the management body should instruct senior management to: a. …

To fulfil these responsibilities, the management body should instruct senior management to:

• a. develop and maintain appropriate processes, which should be systematic and consistently applied, to determine appropriate allowances in accordance with the applicable accounting framework;
• b. establish and implement an effective internal control system for credit risk assessment and measurement; report periodically the results of the credit risk assessment and measurement processes, including estimates of its ECL allowances;
• c. establish, implement and, as necessary, update suitable policies and procedures to communicate the credit risk assessment and measurement process internally to all relevant staff, in particular staff members who are involved in that process.

Senior management should be responsible for implementing the credit risk strategy approved by the management body and developing the aforementioned policies and processes.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA -

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