EU amending ITS on benchmarking of internal models for 2026 benchmarking exercise published in OJ

The Commission Implementing Regulation (EU) 2026/1872 has been published in the Official Journal of the European Union (OJ). The Regulation amends the implementing technical standards (ITS) set out in Implementing Regulation (EU) 2016/2070 governing the European Banking Authority's (EBA) supervisory benchmarking exercise of credit and market risk under Article 78(2) of Directive 2013/36/EU (CRD IV). Based on the EBA's final draft ITS published in August 2025, the Regulation makes several changes including:

• Updating benchmark portfolios, reporting templates and reporting instructions to reflect recent changes introduced by CRD VI, including ESG risk requirements and revised supervisory benchmarking requirements.
• Taking into account the delayed application of the Fundamental Review of the Trading Book market risk framework until 1 January 2027, temporarily limiting the scope of the benchmarking exercise to institutions that are permitted to use the Internal Model Approach (IMA).
• Restricting data collection for institutions that use the IMA and fall within the scope of the market risk exercise to Alternative Standardised Approach elements until 1 January 2027.
• Aligning the exposure classes used in determining the benchmarking portfolios with the approach taken in the credit risk internal ratings-based (IRB) templates set out in Implementing Regulation (EU) 2024/3117.

The Implementing Regulation enters into force on 1 September, 20 days following its publication in the OJ.

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