RiskTech Forum

ESMA publish guidelines on supervisory reporting for Credit Rating Agencies

Posted: 6 February 2019  |  Source: ESMA


The European Securities and Markets Authority (ESMA) has today published its revised Guidelines on the information which credit rating agencies (CRAs) need to report to ESMA for supervisory purposes.

These Guidelines amend some sections of ESMA’s 2015 Guidelines on the reporting of periodic information to ensure they continue to support ESMA’s supervisory processes in an efficient and effective manner.

The main goal of the Guidelines is to streamline the information that is reported on a periodic basis by CRAs to ESMA, ensuring that the information is fully aligned with ESMA’s supervisory processes. However, a secondary goal of the Guidelines is to increase the predictability of ESMA’s supervisory interactions with CRAs, with respect to the requests for information that ESMA submits to CRAs.

The main features of the revised Guidelines are the following:

The publication of these Guidelines follows a public consultation in July 2018 following which a number of refinements have been introduced in areas such as cost and revenue reporting, “as soon as” notifications and reporting calendars. 

Next steps

ESMA will make all relevant templates available on ESMA’s website. This will be done sufficiently in advance of the implementation date to allow for a period of testing between ESMA and CRAs.