Regulatory Alerts2011-12-22
Final report on Regulatory Technical Standards for Credit Rating Agencies' CEREP reporting
The European Securities and Markets Authority (ESMA) issued final Regulatory Technical Standards mandating credit rating agencies to disclose specific historical performance data and rating information to the Central Repository (CEREP). These standards define the precise structure, format, method, and reporting periods required for transparency regarding past rating performance and default rates. The document incorporates feedback from market participants to clarify technical definitions and reporting obligations while revoking previous CESR guidelines to ensure consistent data submission.
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