Basel to adopt flexible approach to point-in-time and business cycle ratings

NEW YORK - The Basel Committee on Banking Supervision, the architect of the Basel II capital Accord, will adopt a flexible approach to point-in-time and business cycle credit ratings used by banks when reviewing advanced internal-rating based approaches.

Jeffrey Brown, a director in the risk analytics division of the Office of the Comptroller of the Currency, said the US regulator is currently reviewing the rating-based systems at US banks, but was placing more emphasis on ensuring credit rating systems have been developed in a controlled manner. “We are checking model validation policy, how the ratings are checked and ensuring that the ratings come from a process that is independent,” Brown told delegates attending Risk’s Credit Risk Summit

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