On October 12, 2016, a Commission Implementing Regulation containing ITS on the mapping of credit assessments to risk weights of External Credit Assessment Institutions under CRR was published in the Official Journal of the European Union. The CRR requires the credit ratings scales used by ECAIs (i.e., credit rating agencies that are registered or certified under the EU Credit Rating Agency Regulation) to be mapped to the risk weights categories in the CRR.

The European Commission has adopted ITS that amended the final draft ITS submitted by the European Supervisory Authorities (the EBA, the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority). This is despite the ESAs rejecting the Commission's proposed amendments in an Opinion published in May 2016.

The ITS aim to ensure sound credit assessments to encourage financial stability in the EU and determine an objective approach for attributing risk weights to assessments carried out by ECAIs.

The ITS on mapping of credit assessments for credit risk is available at:  http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32016R1799&from=EN

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