model risk
as defined in CRR, Article 4(1), point (12) (Definitions)
model risk as defined in point (11) of Article 3(1) of Directive 2013/36/EU
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Also defined in
- Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit… 32013L0036, Article 3(1), point (11)
the potential loss an institution may incur, as a consequence of decisions that could be principally based on the output of internal models, due to errors in the development, implementation or use of such models