The European Banking Authority (EBA) updated its implementing technical standards (ITS) on benchmarking of internal approaches for the 2021 exercise. Changes to the market risk part are limited to some updates and clarifications of instruments. Two annexes have been introduced to gather data on the new International Financial Reporting Standards 9 (IFRS 9), to examine methodologies, models, inputs and scenarios, which could lead to material inconsistencies in expected credit loss (ECL) outcomes and affect own funds and regulatory ratios. The initial focus of the analysis is on the variability of the probability of default (PD) parameter estimated over a default horizon of 12 months, the variability of the macroeconomic forecasts and the interaction between the lifetime PD curve and the macroeconomic scenarios used for determining the ECL; and the variability of practices in the assessment of significant increases in credit risk (SICR). Some marginal changes have been applied to Annex I, which now includes counterparties treated under the standardised approach, to be reported in the IFRS 9 template. Second, institutions should report the hypothetical risk-weighted asset (RWA) calculated under the standardised approach for low default portfolios and the hypothetical RWA based on empirical default rates.