European Commission adopts Implementing Regulation amending Implementing Technical Standards on the mapping of credit assessments of external credit assessment institutions under the EU Capital Requirements Regulation

The European Commission has adopted a Commission Implementing Regulation amending the implementing technical standards set out in Commission Implementing Regulation (EU) 2016/1799 with regard to the mapping tables specifying the correspondence between credit risk assessments of external credit assessment institutions and the credit quality steps set out in the EU Capital Requirements Regulation. The mappings need to be updated because: (i) the quantitative and qualitative factors underlying the credit assessments of some of the mappings have changed due to additional quantitative information collected and qualitative changes recorded by some ECAIs; and (ii) some ECAIs have extended their credit assessments to new market segments, resulting in new rating scales and new types of credit ratings. The Implementing Regulation will enter into force 20 days after its publication in the Official Journal of the European Union.

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