As part of the advisory process, we ask questions and pay attention to your responses. Rather than relying on off-the-shelf services that could loosely fit a...
We approach each audit with sharp thought, straight talk and common sense. In addition to verifying that financial results are fairly presented and meet...
Change and ongoing transformation are fundamental requirements for success in the 21st century. The Grant Thornton Business Consulting team supports...
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
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Our digital risk team is made up of a combination of subject matter experts and technical specialists who can help your business comply with the GDPR.
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Technology has transformed how we work, play, and do business. It has provided new solutions to old problems, disrupted traditional business models, and...
In all of our work our principal purpose is to preserve or create value for stakeholders. To achieve this, we utilise solutions that cover the following...
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If you're facing a time of personal or corporate financial crisis you need advice from someone who listens, who understands your specific issues and deals with them in a supportive and sensitive manner.
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In our previous publication, we explored the inclusion of Machine Learning (ML) in the updated ECB Guide to Internal Models and the regulator’s expectations for its use within Pillar 1 models. Building on that, this article shifts focus to credit risk, where the revised Guide introduces more granular expectations for institutions using IRB models, reflecting a firmer supervisory stance, the integration of EBA Handbook elements, and alignment with CRR3 requirements.
This publication breaks down the major changes in credit risk requirements - from stricter PD and LGD estimation rules to clarified definitions of default and enhanced internal validation standards. These revisions signal a move toward more conservative, harmonised, and auditable IRB practices across the euro area.
As Banks prepare for model reviews and permission applications, understanding the revised Guide is essential to ensure compliance and avoid supervisory roadblocks. Our summary offers a practical entry point for risk teams, model owners, and senior management navigating this evolving regulatory landscape.
Access the full publication: ECB’s Updated Guide to Internal Models: Key Credit Risk Changes [ 586 kb ]
Authors:
Andreas Spyrides, Quantitative Risk Services Leader
Kyveli Kyriacou, Consultant, Quantitative Risk
