Regulatory Alerts2010-12-02 | CBFA_2010_24Added · Updated
Communication CBFA_2010_24/ Recognition of External Credit Assessment Institutions (ECAIs)
The CBFA withdraws the recognition of Rating and Investment Information Inc. (R&I) as an eligible External Credit Assessment Institution (ECAI) with effect from 7 December 2010. This decision follows R&I's choice not to pursue the alternative certification procedure for third-country agencies under European Regulation. Credit institutions and investment firms are required to cease using R&I ratings for regulatory capital calculations after the effective date and must seek alternative solutions, informing the CBFA of their progress and timelines.
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