Speedy onboarding: the push for faster model approvals
Europe’s banking watchdog is planning to streamline how it authorises credit model updates. Not a moment too soon, say bankers
Good things come to those who wait. Although, for European banks seeking supervisory approval of their latest credit models, that wait can be lengthy.
The process of authorising updates to risk models is protracted, confusing and costly, say risk experts. And the European Banking Authority agrees. The regulator is planning to streamline the process as part of an overhaul of the rulebook for
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