The Basel Committee released its latest newsletter which sets forth the views relating to the use of vendor products within internal ratings-based approaches of the Basel II framework. The newsletter was developed in response to industry questions about supervisory expectations for incorporating vendor products into banks'
IRB processes. The purpose of this note is to further elaborate on supervisory expectations regarding how banks might satisfy
IRB validation requirements when vendor products, which frequently introduce information transparency issues, are used within banks'
IRB processes.
Newsletter
© BIS - Bank for International Settlements
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