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On February 3, 2017, a Commission Delegated Regulation in the
form of Regulatory Technical Standards for benchmarking portfolio
assessment standards and assessment-sharing procedures was
published in the Official Journal of the European Union. The RTS
supplement the Capital Requirements Directive. The CRD requires
that national regulators monitor the range of risk-weighted
exposure amounts or own funds requirements (except as regards
operation risk) for the exposures or those relating to transactions
in benchmark portfolios resulting from the internal approaches
adopted by firms. Regulators are also required to assess, at least
annually, the quality of the relevant approaches adopted by firms.
The European Banking Authority is required to assist regulators in
their assessments. The RTS set out the standards for the assessment
by national regulators and procedures for sharing of those
assessments with other relevant EU national regulators and with the
EBA. The RTS enter into force on February 23, 2017 and will apply
directly across the EU.
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