On 10 June 2021, the Joint Committee of the three European Supervisory Authorities (ESAs) published two amended Implementing Technical Standards (ITS) on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs).

Since the adoption in 2019 of the ITS on the mapping of credit assessments of ECAIs, two additional credit rating agencies (CRAs) have been recognised and a number of CRAs have ben de-registered. The ITS have therefore, been amended to reflect the allocation of appropriate risk weights to the newly established ECAIs, and to remove the reference to the de-registered ECAIs. Furthermore, the amendments reflect the outcome of a monitoring exercise on the adequacy of the existing mappings, based on the additional quantitative and qualitative information collected after the original Implementing Regulation entered into force. In particular, the ESAs propose to change the Credit Quality Step allocation for two ECAIs, and to introduce new credit rating scales for nine ECAIs.