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Financial companies too reliant on internal models to cover credit risk, global supervisors say

( June 2, 2015, 15:16 GMT | Official Statement) -- MLex Summary: Financial companies are over-reliant on internal models when calculating the collateral needed to cover credit risks, according to a report by the Joint Forum — a supervisory umbrella group made up of the Basel Committee on Banking Supervision, the International Organization of Securities Commissions and the International Association of Insurance Supervisors. The industry should instead look to simpler measures that can complement their models and give a more comprehensive view of credit risk in any given market transaction, the group says.The following text is from the statement. The report is attached below the text....

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