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Commission Delegated Regulation (EU) No 447/2012 of 21 March 2012 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council on credit rating agencies by laying down regulatory technical standards for the assessment of compliance of credit rating methodologies (Text with EEA relevance)RecitalsArticle 1 Subject matterArticle 2 Demonstration of complianceArticle 3 Assessment of compliance by ESMAArticle 4 Assessing that a credit rating methodology is rigorousArticle 5 Assessing that a credit rating methodology is systematicArticle 6 Assessing that a credit rating methodology is continuousArticle 7 Assessing that a credit rating methodology is subject to validation based on historical experience including back testingArticle 8 ExemptionArticle 9 Entry into forceDone at
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Version status: Entered into force | Document consolidation status: No known changes
Version date: 19 June 2012 - onwards
Version 2 of 2

Article 2 Demonstration of compliance

A credit rating agency shall at all times be able to demonstrate to ESMA its compliance with the requirements set out in Article 8(3) of Regulation (EC) No 1060/2009 relating to the use of credit rating methodologies.

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