Art. 5a
Credit Rating Agencies Regulation · 32009R1060 · every event for this act · on EUR-Lex
2 changes recorded across 2 events, newest first.
in force 2015-06-21 INSERTED±0§
Amended by Regulation (EU) No 462/2013 32013R0462
applies from: unknown
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in force 2013-06-20 INSERTED§
Amended by Regulation (EU) No 462/2013 32013R0462
applies from: unknown (an inserted provision states its own application date only in prose)
Sources disagree — the text comparison and the amending act's instructions found this change; the EU's own amendment metadata does not list it. All are shown; none is overruled.
A new Article 5a is added, requiring the entities referred to in the first subparagraph of Article 4(1) to make their own credit risk assessments and not rely solely or mechanistically on credit ratings when assessing the creditworthiness of an entity or financial instrument.
It also directs sectoral competent authorities supervising those entities to monitor the adequacy of their credit risk assessment processes, assess the use of contractual references to credit ratings, and, where appropriate, encourage mitigation of such references, taking into account the nature, scale and complexity of the entities' activities and in line with specific sectoral legislation.
Cited: Art. 5a, v2
text before / after, on the event page →