The EBA has published final draft Regulatory Technical Standards (RTS) relating to how institutions determine their own funds requirements for credit risk taking under the Capital Requirements Regulation (CRR). The CRR allows scope for competent authorities to permit institutions to use the Internal Ratings Based Approach (IRB Approach) as part of that determination. The EBA final draft RTS harmonise the assessment methodology for the validation of credit risk models using the IRB Approach. The RTS specifies assessment criteria to be used by competent authorities in verification requests and provides clarifications on the independence of validation function from the credit risk control unit. In addition, information is provided in relation to the methodology to be used for the calculation of the difference between expected loss amounts and credit risk adjustments and of default-weighted averages.