Securitisation and Regulation News

Credit rating agencies: ESMA launches central repository

ESMA has launched a central rating repository (CEREP) providing information on credit ratings issued by credit rating agencies (CRAs) which are either registered or certified in the EU. The CEREP database has been established in accordance with Article 11.2 of the Credit Rating Agencies Regulation and is intended to help investors assess the performance and reliability of credit ratings on different types of ratings, asset classes and geographical regions over the time period of choice. The repository includes standardised statistics on rating activity and the performance of credit ratings, including transition matrices and default rates. It will be updated on a semi-annual basis with statistics covering up to the preceding reporting period, which covers six months lasting from 1 January to 30 June or from 1 July to 31 December.

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