The EBA has developed Revised Guidelines on the Recognition of External Credit Assessment Institutions (ECAIs). Ratings issued by an external ECAI may only be used by an institution if the ECAI concerned has been recognised and registered within Europe. ECAIs are assessed on the basis of technical criteria relating to credibility, market acceptance, transparency and disclosure. The EBA has laid down the recognition and registration process in these revised Guidelines in order to facilitate a common approach in all Member States.
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