ECAIs fulfil Basel II requirements
Three external credit assessment institutions (ECAIs) have met Basel II requirements and are now eligible to provide ratings for regulatory capital purposes and mapping credit assessment.
Fitch, Standard & Poor’s and Moody’s have all fulfilled the necessary standards of objectivity, independence, ongoing reviews and transparency. They have also considered which risk weight would apply to their weightings, also known as mapping.
The three ECAIs have adopted a single approach to ratings, as recommended by the Committee of European Banking Supervisors (CEBS), which aimed to reduce administrative burdens and ensure equality for institutions using the standardised approach to determine
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