On 25 May 2023, the European Banking Authority (EBA) published a Consultation Paper containing draft implementing technical standards amending Implementing Regulation 2016/1799 on the mapping of External Credit Assessment Institutions (ECAIs) credit assessments under Article 136(1) and (3) of the Capital Requirements Regulation.

The proposed amendments reflect the outcome of a monitoring exercise on the adequacy of existing mappings, namely those to the credit quality steps and allocation for four ECAIs and the introduction of new credit rating scaled for seven ECAIs as well as the withdrawal of the registration of one ECAI.

The revised draft ITS will propose amendments to the mapping tables specified in Annex III of Implementing Regulation 2016/1799. The following changes will be made:

  • Removal of the mapping table of the Credit Rating Agency (CRA) that has lost ECAI status following its deregistration as a CRA under the CRA Regulation, and reflection of name changes of two registered entities.
  • Amendments due to the re-allocation of CQS and amendments due to new or amended credit rating scales.

The deadline for feedback to this consultation is 26 June 2023.