215. Institutions should specify internal policies for changes of models and estimates of risk …

Institutions should specify internal policies for changes of models and estimates of risk parameters used within a rating system. Such policies should provide that changes in the models should be made as a result of at least the following:

• (a) regular review of estimates;
• (b) independent validation;
• (c) changes in the legal environment;
• (d) internal audit review;
• (e) competent authority review.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/