MAS Announces Ratings by CRAs in Singapore Still Recognized in EU

There are two existing regimes for CRAs outside of EU to have their ratings recognized and used for regulatory purposes in the EU, namely certification through the equivalence regime or endorsement. While Singapore’s regulatory regime for CRAs no longer has equivalence status, Singapore continues to be on the list of countries that ESMA has deemed as meeting the legal and supervisory framework for the endorsement regime. 

Keywords: Europe, Asia Pacific, EU, Singapore, Banking, CRAs, Endorsement Regime, Equivalence Regime, Credit Ratings, Credit Risk, ESMA, EC, MAS