A third of eurozone banks fall short on IRB model standards

Twenty-one European lenders were deemed non-compliant with the European Union's internal ratings-based (IRB) credit modelling standards following the first phase of an industry-wide assessment.

The European Central Bank released the interim results of its multi-year targeted review of internal models (Trim) at around 65 banks in June.

The report identified a litany of failings: six banks lacked a model change policy, or had no mechanism to report important model changes to the appropriate

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