The PRA has published an updated version of Supervisory Statement 11/13: Internal Ratings Based (IRB) approaches (SS11/13). The PRA has updated SS11/13 to remove expectations that have been superseded by decisions or technical standards adopted by the European Commission. Specifically, those expectations relating to third country equivalence have been deleted and expectations for the notification of changes to IRB rating systems have been amended.

View Internal Ratings Based (IRB) approaches – SS11/13 UPDATE, 11 November 2015