9.1.1 General policy and procedures

A credit institution should have in place a written policy and procedures governing the valuation of property collateral. The policy and procedures should be fully aligned with the credit institution’s RAF.

The policy and procedures should cover the valuation of all immovable and movable property collateral irrespective of its eligibility for prudential purposes in accordance with the requirements of Article 208 and Article 210 of Regulation (EU) No 575/2013.

The policy and procedures should be approved by the management body and should be reviewed at least on an annual basis.