Regulatory use

While credit ratings are used on a global basis by a variety of investors/users, the legal framework on credit rating agencies differs substantially from country to country. In recent years, several countries have adopted new legislation on CRAs and others may have updated their applicable legal frameworks.

In this section we review the legal framework in several jurisidictions in order to identify the following:

  • Competent authorities responsible for supervising or recognizing CRAs
  • we outline whether other recognitions in the respective country exist. For instance, the list of recognized ECAIs may differ from the list of CRAs. Additionally, special frameworks may apply (eg to the rating of SMEs). Finally national banks may be using only a selected list of agencies.
  • We list all registered CRAs in the specific country.
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