Featured Product

    ESMA on Availability and Use of Credit Rating Information and Data

    March 30, 2020

    ESMA published a Call for Evidence on the availability and use of credit rating information and data. The purpose of this Call for Evidence is to gather information on the specific uses of credit ratings as well as on how the users of credit ratings are accessing this information. Feedback to this call for evidence will enable ESMA to map the principal activities (regulatory and otherwise) undertaken by various types of users of credit ratings. Based on the feedback, ESMA will publish a report describing the current disclosure practices of credit rating agencies, including via third-party data service providers, as well as the consumption patterns of rating users. The call for evidence is open until August 03, 2020.

    The Credit Rating Agencies Regulation (or CRA Regulation) aims to ensure that credit ratings used in EU are independent, objective, and of adequate quality. The CRA Regulation, among other measures, requires that only credit ratings that are issued by registered rating agencies or endorsed in accordance with the CRA Regulation can be used for regulatory purposes in EU, such as for the calculation of capital requirements. However, credit ratings are used for many other purposes or activities. With this Call for Evidence, ESMA aims to map the principal activities (regulatory and otherwise) undertaken by various types of users in which credit ratings are required as an input. ESMA aims for each activity, such as risk management, market research, and regulatory reporting, to identify users’ specific rating data needs (for example, format, frequency, scope, and downloadability) and how these needs correspond with the information that is provided on the European Rating Platform and on the public websites of the credit rating agencies. The Call for Evidence also aims to understand why users choose to subscribe to third-party data fee service providers instead of relying on the information published free of charge on the websites of European Rating Platform and credit rating agencies.

     

    Related Links

    Comment Due Date: August 03, 2020

    Keywords: Europe, EU, Banking, Securities, Call for Evidence, European Rating Platform, CRA Regulation, CRAs, Credit Rating Agencies, ESMA

    Related Articles
    News

    EBA Clarifies Use of COVID-19-Impacted Data for IRB Credit Risk Models

    The European Banking Authority (EBA) published four draft principles to support supervisory efforts in assessing the representativeness of COVID-19-impacted data for banks using the internal ratings based (IRB) credit risk models.

    June 21, 2022 WebPage Regulatory News
    News

    EP Reaches Agreement on Corporate Sustainability Reporting Directive

    The European Council and the European Parliament (EP) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD).

    June 21, 2022 WebPage Regulatory News
    News

    PRA Consults on Model Risk Management Principles for Banks

    The Prudential Regulation Authority (PRA) launched a consultation (CP6/22) that sets out proposal for a new Supervisory Statement on expectations for management of model risk by banks.

    June 21, 2022 WebPage Regulatory News
    News

    EC Regulation Amends Standards for Calculating Credit Risk Adjustments

    The European Commission (EC) published the Delegated Regulation 2022/954, which amends regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.

    June 21, 2022 WebPage Regulatory News
    News

    HKMA Announces Launch of Data Repository on Sustainable Finance

    The Hong Kong Monetary Authority (HKMA) announced that the Green and Sustainable Finance (GSF) Cross-Agency Steering Group has launched the information and data repositories and outlined the progress made in advancing the development of green and sustainable finance in Hong Kong.

    June 21, 2022 WebPage Regulatory News
    News

    BIS Hub Updates Work Program for 2022, Announces New Projects

    The Bank for International Settlements (BIS) Innovation Hub updated its work program, announcing a set of projects across various centers.

    June 17, 2022 WebPage Regulatory News
    News

    EIOPA Issues Cyber Underwriting Proposal, Statement on Open Insurance

    The European Insurance and Occupational Pensions Authority (EIOPA) published two consultation papers—one on the supervisory statement on exclusions related to systemic events and the other on the supervisory statement on the management of non-affirmative cyber exposures.

    June 17, 2022 WebPage Regulatory News
    News

    NGFS Report on Integration of G-Cubed Model into NGFS Scenarios

    The Network for Greening the Financial System (NGFS) published a report that explores the feasibility of integrating the G-Cubed general equilibrium model into the NGFS suite of models.

    June 17, 2022 WebPage Regulatory News
    News

    US Senate Members Seek Details on SEC Proposed Climate Disclosure Rule

    Certain members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a letter to the Securities and Exchange Commission (SEC)

    June 16, 2022 WebPage Regulatory News
    News

    EIOPA Consults on Review of Securitization Framework in Solvency II

    The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on the advice on the review of the securitization prudential framework in Solvency II.

    June 16, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8301