On 17 May 2021, the European Banking Authority (EBA) published a report analysing the extent to which Member States’ national law relies on external credit ratings. Based on a survey among EU banking supervisors, no mechanistic reliance on external credit ratings was identified. The report also shows that the use of external credit ratings in the calculation of risk-weighted exposure amounts under the standardised approach and the external ratings based approach of the securitisation framework is limited.