Regulatory Alerts2020-06-18
Added · Updated
Circular Letter No. CC/2020/00000038
Supervised credit institutions applying the Internal Ratings-Based (IRB) method under Regulation (EU) No 575/2013 must adopt necessary measures to comply with the European Banking Authority's Guidelines on PD and LGD estimation and the treatment of exposures in default. These guidelines, originally effective January 1, 2021, have a delayed effective date of January 1, 2022, as confirmed by the EBA's July 2019 progress report. Institutions are required to follow these guidelines in the context of current legislation, specifically complementing the General Regime of Credit Institutions and Financial Companies.
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