Banks seek EU supervisory green light on external credit data
GCD-developed industry standard to show pooled loss data is representative of banks’ portfolios
Bankers in the European Union have approached their regulators in a bid to strengthen official support for the use of external credit loss data to model bank capital requirements.
“We are engaging with regulators and policy-makers such as the European Banking Authority, European Central Bank and others, and are in the process of gathering feedback,” says Simon Ross-Hansen, head of credit model risk at Danish bank Nykredit, who also chairs the Global Credit Data (GCD) consortium.
The GCD was
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