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

    ISSB Sustainability Standards Expected to Become Global Baseline

    The finalization of the two sustainability disclosure standards—IFRS S1 and IFRS S2—is expected to be a significant step forward in the harmonization of sustainability disclosures worldwide.

    September 18, 2023 WebPage Regulatory News
    News

    IOSCO, BIS, and FSB to Intensify Focus on Decentralized Finance

    Decentralized finance (DeFi) is expected to increase in prominence, finding traction in use cases such as lending, trading, and investing, without the intermediation of traditional financial institutions.

    September 18, 2023 WebPage Regulatory News
    News

    BCBS Assesses NSFR and Large Exposures Rules in US

    The Basel Committee on Banking Supervision (BCBS) published reports that assessed the overall implementation of the net stable funding ratio (NSFR) and the large exposures rules in the U.S.

    September 14, 2023 WebPage Regulatory News
    News

    Global Agencies Focus on ESG Data, Climate Litigation and Nature Risks

    At the global level, supervisory efforts are increasingly focused on addressing climate risks via better quality data and innovative use of technologies such as generative artificial intelligence (AI) and blockchain.

    September 14, 2023 WebPage Regulatory News
    News

    ISSB Standards Shine Spotlight on Comparability of ESG Disclosures

    The finalization of the IFRS sustainability disclosure standards in late June 2023 has brought to the forefront the themes of the harmonization of sustainability disclosures

    August 22, 2023 WebPage Regulatory News
    News

    EBA Issues Several Regulatory and Reporting Updates for Banks

    The European Banking Authority (EBA) recently issued several regulatory publications impacting the banking sector.

    August 10, 2023 WebPage Regulatory News
    News

    BCBS Proposes to Revise Core Principles for Banking Supervision

    The Basel Committee on Banking Supervision (BCBS) launched a consultation on revisions to the core principles for effective banking supervision, with the comment period ending on October 06, 2023.

    August 04, 2023 WebPage Regulatory News
    News

    US Proposes Final Basel Rules, Transition Period to Start in July 2025

    The U.S. banking agencies (FDIC, FED, and OCC) recently proposed rules implementing the final Basel III reforms, also known as the Basel III Endgame.

    August 04, 2023 WebPage Regulatory News
    News

    FSB Report Outlines Next Steps for Climate Risk Roadmap

    The Financial Stability Board (FSB) recently published the second annual progress report on the July 2021 roadmap to address climate-related financial risks.

    August 04, 2023 WebPage Regulatory News
    News

    EBA Plans on Ad-hoc ESG Data Collection and Climate Scenario Exercise

    The recognition of climate change as a systemic risk to the global economy has further intensified regulatory and supervisory focus on monitoring of the environmental, social, and governance (ESG) risks.

    July 31, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8931