Regulatory Alerts2020-06-04
Added · Updated
Commission Implementing Regulation (EU) 2020/744 amending Regulation (EU) 2016/1800 on credit quality steps
The European Commission amends the Annex to Implementing Regulation (EU) 2016/1800 to update the mappings of external credit assessment institutions to the objective scale of credit quality steps under Solvency II. The amendment incorporates changes to quantitative and qualitative factors for existing mappings, adds mappings for newly registered agencies such as ACRA Europe and AM Best Europe, and mirrors mappings for agencies using parent company methodologies. This Regulation enters into force on the twentieth day following its publication in the Official Journal of the European Union.