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  1. Directive 2006/48/EC - Banking Consolidation Directive (recast as part of the Capital Requirements Directive - CRD)
  2. Annex VI Standardised approach
  3. Annex VI Part 2 Recognition of ECAIs and mapping of their credit assessments
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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2014 - onwards
  Version 3 of 3    

Annex VI Part 2 Recognition of ECAIs and mapping of their credit assessments

1. METHODOLOGY

1.1. Objectivity

1. Competent authorities shall verify that the methodology for assigning credit assessments is rigorous, systematic, continuous and subject to validation based on historical experience.

1.2. Independence

2. Competent authorities shall verify that the methodology is free from external political influences or constraints, and from economic pressures that may influence the credit assessment.

3. Independence of the ECAI's methodology shall be assessed by competent authorities according to factors such as the following:

(a) ownership and organisation structure of the ECAI;

(b) financial resources of the ECAI;

(c) staffing and expertise of the ECAI; and

(d) corporate governance of the ECAI.

1.3. Ongoing review

4. Competent authorities shall verify that ECAI's credit assessments are subject to ongoing review and shall be responsive to changes in the financial conditions. Such review shall take place after all significant events and at least annually.

5. Before

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