ESMA launches Calls for Evidence in the area of CRAs

26 May 2011

The calls for evidence on 'Ratings data periodic reporting requirements for CRAs according to Article 21 (3)(e) of the Draft Amended CRA Regulation', and 'Assessment of compliance of CRAs with Article 8.3 of the Credit Rating Agencies Regulation (1060/2009/EC)' are open for comments by 20 June.

Regarding the Ratings data periodic reporting requirements for CRAs according to Article 21 (3)(e) of the Draft Amended CRA Regulation: In light of the proposal for amending Regulation (EC) No 1060/2009, ESMA has started the process of drafting regulatory technical standards, to be endorsed by the Commission in accordance with Article 10 of Regulation no. 1095/2010, concerning the content and format of the ratings data periodic reporting to be requested from credit rating agencies (hereinafter CRAs) for the purposes of ongoing supervision.

The aim of this Call for Evidence is to collect data and information for a preliminary assessment of the above-mentioned requirements from CRAs, and possibly other interested parties. This evidence will be considered in the preparation of a public consultation paper (including a cost-benefit analysis) on the subject concerned.

Regarding the Assessment of compliance of CRAs with Article 8.3 of the Credit Rating Agencies Regulation (1060/2009/EC): In light of the agreed amendments to the Credit Rating Agencies Regulation (EC) No 1060/2009(CRA Regulation), ESMA is mindful of its mandate to produce draft regulatory technical standards (RTS) for adoption by the Commission. This Call for Evidence concerns RTS on the assessment of compliance of credit rating methodologies with the requirements set out in Article 8(3).

The aim of this Call for Evidence is for ESMA to gather information from CRAs and other interested parties in preparing the public consultation paper on the RTS and the analysis of the potential related costs and benefits, as required by Article 10 of the ESMA Regulation No.1095/2010/EU.

Ratings data periodic reporting requirements for CRAs

Assessment of compliance of CRAs with Article 8.3 of the Credit Rating Agencies Regulation

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