ESMA updated questions and answers (Q&A) document on the Credit Rating Agencies (CRA) Regulation. The update provides clarification on the steps that a credit rating agency should take to ensure sufficient level of quality and transparency in the periodic review of credit ratings, conducted in accordance with Article 8(5) of CRA Regulation.
The purpose of this Q&A update is to establish a set of minimum standards for these periodic reviews. It will also provide investors with clarity as to whether and, if so, when the annual and semi-annual review was conducted for a credit rating. It provides responses to questions posed by market participants, including credit rating agencies, in relation to practical application of the CRA Regulation. ESMA will periodically review these Q&A and update them where required.
Keywords: Europe, EU, Banking, Insurance, Securities, CRA Regulation, Q&A, CRA, Credit Rating Agencies, ESMA
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