(iv) the control mechanisms for rating systems including a description of independence, accountability, and rating systems review; (c) a description of the internal ratings process, provided separately [...] positions that would be subject to the Internal Ratings Based Approach in the same institution's non-trading book, 8 % of the risk weight under the Internal Ratings Based Approach as set out in Chapter 5. [...] (b) an explanation and review of: (i) the structure of internal rating systems and relation between internal and external ratings; (ii) the use of internal estimates other than for calculating r
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on external ratings Overreliance on external credit ratings occurs when financial institutions and institutional investors rely solely or mechanistically on ratings issued by credit rating agencies while [...] Overreliance on external ratings At the international level, the FSB recently issued principles to reduce authorities’ and financial institutions’ reliance on external ratings7. The principles call for [...] Commission website10. 2.1.3. Overreliance on external ratings The Commission conducted a public consultation on issues concerning external ratings which also covered overreliance on them. The consultation
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means a risk category within the obligor rating scale of a rating system, to which obligors are assigned on the basis of a specified and distinct set of rating criteria, from which estimates of PD are [...] (e) the institution documents its rating systems and the rationale for their design and validates its rating systems; (f) the institution has validated its rating systems during an appropriate time [...] means that the simplest possible rating procedures, even in the 14 OJ L 243, 11.9.2002, p. 1. 21 Internal Ratings Based Approach (‘IRB Approach’)
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SUB-SECTION 1 RATING SYSTEMS Article 165 General principles 1. Where an institution uses multiple rating systems, the rationale for assigning an obligor or a transaction to a rating system shall be [...] these may be seen as the outputs of grades on a continuous rating scale. Article 166 Structure of rating systems 1. The structure of rating systems for exposures to corporates, institutions and central [...] the following requirements: (a) a rating system shall take into account obligor and transaction risk characteristics; (b) a rating system shall have an obligor rating scale which reflects exclusively
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werden, überträgt ein Institut ein abgeleitetes Rating auf eine Position ohne Rating, wobei das abgeleitete Rating dem Rating der Positionen mit Rating (die „Referenzpositionen“) ent- spricht, bei denen [...] Institutions — ECAIs) und Zuordnung ihrer Ratings Teil 3 Nutzung der Ratings von Ratingagenturen zur Bestimmung des Risikogewichts ANHANG VII AUF INTERNEN RATINGS BASIERENDER ANSATZ (IRB-ANSATZ) Teil 1 [...] ken, für die ein Rating einer anerkannten Rating- agentur vorliegt, ein Risikogewicht nach Tabelle 1 entsprechend der von den zuständigen Behörden vorgenommenen Zuordnung der Ratings anerkannter Ratin
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prozentuale Erhöhung der Risikogewichte bei Positionen mit gutem Rating niedriger und bei Positionen mit niedrigerem oder ohne Rating höher ausfallen würde. 3.6 Eigenkapitalanforderungen und Risiko [...] beschränkt ist. 3.5 Behandlung von Organismen für gemeinsame Anlagen (OGA) im Rahmen des auf internen Ratings basierenden Ansatzes („IRB-Ansatzes“) Die Anwendung zielgenauerer Aufschläge auf die standardmäßigen [...] Investmentfonds nach dem IRB-Ansatz für zu streng, wenn Banken für das Risiko des OGA kein internes Rating vorlegen können oder wollen. Mit dem Vorschlag werden die Eigenkapitalanforderungen für risikoärmere
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institution to one of the rating grades described in point 43. The position shall be attributed a derived rating the same as the credit assessments corresponding to that rating grade as laid down in point [...] (iv) the control mechanisms for rating systems including a description of independence, accountability, and rating systems review; (c) a description of the internal ratings process, provided separately for [...] subject to a Community authorisation process. In the case of external ratings use is made of the products of what are known as recognised rating agencies, which in the Community are not currently subject to an
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........... 46 B. Addressing reliance on external credit ratings and minimising cliff effects.......... 51 1. Standardised inferred rating treatment for long-term exposures................ 51 2. Incentive [...] EPE Expected positive exposure FIRB Foundation internal ratings-based approach IMM Internal model method IRB Internal ratings-based IRC Incremental risk charge ISIN International Securities [...] elements of the IOSCO Code of Conduct Fundamentals for Credit Rating Agencies into the Committee’s eligibility criteria for the use of external ratings in the capital framework. The Committee also is conducting
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concluded that the ESAs should also have supervisory powers for credit rating agencies. ESMA would be responsible to register credit rating agencies. ESMA would also be empowered to take supervisory measures [...] responsibilities and powers of ESMA with regard to credit rating agencies will be defined in an amendment to the Regulation on Credit Rating Agencies. EN 12 EN 2009/0144 (COD) Proposal for a [...] measures such as withdrawing the registration or suspending the use for regulatory purposes of credit ratings. Supervisory powers could include the power to request information and to conduct investigations
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emphasised that the European Supervisory Authorities should also have supervisory powers for credit rating agencies and invited the Commission to prepare concrete proposals on how the European System of
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