On 28 May 2014, the EBA launched a consultation on draft technical standards   for specifying the benchmarking of internal approaches for calculating own funds requirements for credit and market risk exposures. The EBA is required, under the Capital Requirements Directive, to provide final draft implementing technical standards (“ITS”) and regulatory technical standards (“RTS”) to the European Commission by 30 September 2014 (the deadline was extended with agreement from the European Commission from 31 December 2013). The draft ITS set out the benchmarking portfolios and the templates, definitions and IT solutions that should be applied in the benchmarking exercise. The draft RTS contain   procedures for sharing the assessments between national regulators and with the EBA and the standards for the assessment by the national regulators of the internal approaches applied by firms. Responses to the consultation are due by 19 August 2014.

The consultation details are available at: http://www.eba.europa.eu/-/eba- consults-on-technical-standards-on-supervisory-benchmarking-of-internal- approaches-for-calculating-capital-requirements.