Data not judgement required for Nordic banks' Basel approach
A European loss data consortium is set to receive a boost to its membership, courtesy of Finansinspektionen (FI), the Swedish financial supervisor. Svenska Handelsbanken and Nordea have decided to join the six-year-old Pan-European Credit Data Consortium (PECDC) because it’s the only way for them to satisfy FI’s strict criteria on credit risk modelling.
“If banks want to use advanced models to calculate regulatory capital, their models need to be based on a sufficient amount of high-quality data
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