2.

The areas of responsibility for the credit risk control unit or units shall include: testing and monitoring grades and pools; production and analysis of summary reports from the institution's rating systems; implementing procedures to verify that grade and pool definitions are consistently applied across departments and geographic areas; reviewing and documenting any changes to the rating process, including the reasons for the changes; reviewing the rating criteria to evaluate if they remain predictive of risk. Changes to the rating process, criteria or individual rating parameters shall be documented and retained; active participation in the design or selection, implementation and validation of models used in the rating process; oversight and supervision of models used in the rating process; ongoing review and alterations to models used in the rating process.

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Source: EUR-Lex (Cellar) · retrieved 2026-09-25 · Text as adopted (Official Journal); later amendments are not incorporated in this text.