Featured Product

    ESMA Publishes Market Share Figures for Credit Rating Agencies in EU

    November 29, 2019

    ESMA published its annual market share calculation for EU registered credit rating agencies (CRAs) for 2019. The results show that the three largest CRAs—S&P Global Ratings, Moody’s Investor Service, and Fitch Ratings—account for 92.1% of the market for credit rating agencies in EU, representing a 2.7% increase on 2018. The remaining 7.9% of the market is shared between the other 23 CRAs that are registered in EU. The annual market share calculation also provides a breakdown of the type of ratings offered by each registered CRA as well as the proportion of ratings for EU debt issuance by asset class. This market share calculation is valid for use from its date of publication and is applicable until the date of publication of the next Market Share Calculation in 2020.

    The CRA Regulation, under Article 8d, specifies that issuers and related third parties are required to consider appointing a CRA with no more than 10% total market share whenever they intend to appoint one or more CRAs to rate an issuance or entity. The report on the CRA market share calculation provides background and guidance on how the market share calculation should be used by issuers or related third parties. It also provides information on how the market share is calculated, a list of CRAs registered in EU along with their percentage of total market share by revenue, and an overview of the type of credit ratings offered by each CRA registered in the EU. The report shows the proportion of EU debt issuance for each asset class rated by individual CRAs, along with details on the Common Supervisory Approach and Standard Form adopted by ESMA members in respect of Article 8d. 

     

    Related Links

    Keywords: Europe, EU, Banking, Insurance, Securities, Market Share Calculation, CRA, CRA Regulation, MIS, Fitch Ratings, S&P, Credit Risk, ESMA

    Featured Experts
    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

    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

    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
    News

    UK Authorities Issue Regulatory and Reporting Updates for Banks

    The Prudential Regulation Authority (PRA) issued a statement on PRA buffer adjustment while the Bank of England (BoE) published a notice on the statistical reporting requirements for banks.

    June 15, 2022 WebPage Regulatory News
    News

    BCBS Issues Climate Risk Principles while HKMA Expresses Its Support

    The Basel Committee on Banking Supervision (BCBS) issued principles for the effective management and supervision of climate-related financial risks.

    June 15, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8280