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European Insurance and Occupational Pensions Authority

809

Q&A

Question ID: 809

Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities

Article: 35

Status: Final

Date of submission: 30 Aug 2016

Question

In the log file of the report S.06.02 - column C0330 and S.08.01 -column C0300, it's said: "Identify the credit assessment institution (ECAI) giving the external rating, by using the name of the ECAI as published at ESMA website."

The matter is that:
1) on the ESMA website there is two type of name :
1.a) on the list of certified CRA, the name are the legal name of the entity
1.b) on the other documentation, the is the global name of the CRA.

Example :
1.a : on the list of certified CRA :
Fitch Italia S.p.A.
Fitch Polska S.A.
Fitch Ratings España S.A.U.
Fitch Ratings Limited
Fitch Ratings CIS Limited

1.b : On the ESMA documentation :
Fitch Ratings

So which one should be used for the legal reporting?

2) Until now, the insurance company use value like "Fitch", "Moody's", "A.M. Best" on their report (and for the XBRL file). Would it be ok to keep doing so, or do they have to use the value from the point 1 as soon as possible?

EIOPA answer

It should be used the name (Name of CRA) as published by ESMA in the "List of registered and authorised CRAs" (example 1a in the question).
Current link: https://www.esma.europa.eu/supervision/credit-rating-agencies/risk