Due to the lack of an effective, integrated approach for cyber risk management, gaps in cyber risk reporting
Three economic scenarios are required to estimate ECL under IFRS 9 rules, representing a most likely outcome (that is, central scenario) and two less likely scenarios on either side of the central, that is, upside and a downside. This case study outlines best practice approach to develop satellite PD, LGD and EaD models.
Some actions that banks and credit unions can consider as they seek to stay-in-business business during this time of stress. There’s no doubt that we are only at the start of an unprecedented and uncertain time. Customers need assurances that their local credit union or bank is well-capitalized and is able to assist during this difficult time. Management, meanwhile, needs to take decisive action to deal with the immediate crisis and operate a sustainable business.