Extensive revisions expected for EU CAD in July draft

The EU Commission published its feedback document to comments on the previous draft of the CAD in mid-March, and the document contained several potential changes to the CAD. To begin with, the EU Commission proposes to include text designed to provide that the "‘co-ordinating supervisor’ work jointly with the subsidiary supervisors to agree together the approval of such internal systems and models" used under either the credit risk or advanced measurement approach (AMA) frameworks, according