Regulatory Alerts2011-12-22
Final Report on Draft RTS for Periodic Ratings Data Reporting by Credit Rating Agencies to ESMA
The European Securities and Markets Authority issued final draft Regulatory Technical Standards requiring credit rating agencies to submit periodic ratings data for ongoing supervision. The standards mandate monthly reporting of analytical data on rating actions, with a bimonthly option granted to small local agencies to ensure proportionality. A six-month transitional period is established to allow for necessary IT system adjustments before the requirements become fully applicable.
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