On 18 December 2018, the European Banking Authority (EBA) issued a consultation paper on proposed amendments to the European Commission’s Implementing Regulation on the benchmarking of internal models. The proposed amendments seek to adjust the benchmarking portfolios and reporting requirements in view of the benchmarking exercise that will be carried out in 2020. The proposed changes seek to simplify the portfolio’s structure for the credit risk part of the exercise, and gain more insight into the model used for pricing for the market risk part of the exercise. The deadline for comments on the consultation paper is 31 January 2019.