The challenges of standardised credit risk assessments for banks under Basel III
In the aftermath of the global financial crisis that began in 2007–08, regulators from 28 jurisdictions within the Basel Committee on Banking Supervision agreed on a new international standard for strengthening banks. The agreement was finalised in 2017, and the European Union has already implemented most of the global standards known as Basel III.
Among the new requirements of the revised standardised approach for credit risk is the standardised credit risk assessment (SCRA) approach, which will apply to banks’ risk exposures to their banking and financial institution counterparties, in the hope of encouraging better counterparty risk management practices.
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