EUROPEAN UNION: EBA, ESMA and EIOPA publish addendum to joint consultation on mapping of ECAIs

Friday October 31 2014

The Joint Committee of the three European Supervisory Authorities (EBA, ESMA and EIOPA – ESAs) published today an addendum to the joint consultation on the mapping of the credit assessments to risk weights of External Credit Assessment Institutions (ECAIs). The addendum provides further details on the application of the rules proposed in the draft Implementing Technical Standards (ITS) in relation to particular ECAIs and is to be considered as an extension of the consultation process. The consultation period will be reopened until 30 November 2014 in order to collect additional comments.

In line with the specifications included in the joint Consultation Paper published in February 2014, this addendum contains the individual mapping tables of all relevant ECAIs. The proposed mappings establish the level of capital that financial institutions should hold in order to ensure the safety and soundness of the EU financial system.

Furthermore, the addendum contains some additional aspects resulting from the cost-benefit/impact assessment analysis.

Click link above for further details.