ESAs publish amended technical standards on the mapping of ECAIs

10 June 2021

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Friday, June 11, 2021

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10 June 2021
Joint Committee

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today two amended Implementing Technical Standards (ITS) on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs).
Since the adoption in 2019 of the ITS on the mapping of credit assessments of ECAIs, two additional CRAs have been recognised and a number of CRAs have ben de-registered.
The ITS have therefore, been amended to reflect the allocation of appropriate risk weights to the newly established ECAIs, and to remove the reference to the de-registered ECAIs.
In particular, the ESAs propose to change the Credit Quality Step (CQS) allocation for two ECAIs, and to introduce new credit rating scales for nine ECAIs.