The Basel Committee on Banking Supervision plans to move away from the use of internal models to measure risk. BCBS chair Stefan Ingves said the use of internal models had been a defining characteristic of Basel II but in recent years "ample evidence" had accumulated to suggest that the role of internal models in the regulatory framework did not strike the right balance between simplicity, comparability and risk sensitivity. Towards the end of the year the BCBS will publish the outcome of a strategic review of the capital framework, including proposals that move away from internally generated models for some risk categories. Martin Blessing, who has led Germany's Commerzbank since May 2008 and is credited with restoring the bank to financial health, has not accepted an offer to extend his contract beyond his current term, Reuters reports.  Blessing's contract at Germany's number two bank runs until October next year. The board said it regretted Blessing's decision.