26.

A credit institution shall conduct an independent review of its CCR management system regularly through its own internal auditing process. This review shall include both the activities of the business units referred to in point 17 and of the independent CCR control unit. A review of the overall CCR management process shall take place at regular intervals and shall specifically address, at a minimum: the adequacy of the documentation of the CCR management system and process; the organisation of the CCR control unit; the integration of CCR measures into daily risk management; the approval process for risk pricing models and valuation systems used by front and back‐office personnel; the validation of any significant change in the CCR measurement process; the scope of CCR captured by the risk measurement model; the integrity of the management information system; the accuracy and completeness of CCR data; the verification of the consistency, timeliness and reliability of data sources used to run models, including the independence of such data sources; the accuracy and appropriateness of volatility and correlation assumptions; the accuracy of valuation and risk transformation calculations; and the verification of the model's accuracy through frequent back‐testing.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.