On 17 December 2020, the European Banking Authority (EBA) issued a consultation paper setting out proposals for draft Implementing Technical Standards (ITS) amending the European Commission’s Implementing Regulation on the benchmarking of credit risk, market risk and IFRS9 models. The draft ITS have been developed in accordance with Article 78 of the Capital Requirements Directive IV, which requires the EBA to specify the benchmarking portfolios, templates and definitions to be used as part of the annual benchmarking exercises. These are used by Member State competent authorities to conduct an annual assessment of the quality of internal approaches used for the calculation of own funds requirements. The deadline for comments on the consultation paper is 15 February 2021. A public hearing on the consultation will take place on 20 January 2021. The deadline for registration is 4pm 18 January 2020.
