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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
19/07/2012 2011/454 MOU on the supervision of CRAs- ESMA and ASIC , Reference PDF
4 MB
This document contains two copies of the MOU, signed by ESMA and by the ASIC.
19/07/2012 2012/124 MOU on the supervision of CRAs- ESMA and MAS , Reference PDF
574.14 KB
03/09/2015 2012/236 Annual list of contractors- 2011 Reference PDF
143.08 KB
25/11/2013 2013/1709 Review Panel Methodology Reference PDF
98.29 KB
16/12/2013 2013/1933 CRAs’ Market share calculation according to Article 8d of the CRA Regulation Reference PDF
181.17 KB
23/01/2013 2013/87 2013 CRA supervision and policy work plan Reference PDF
114.95 KB
03/09/2015 2013/890 Annual list of contractors- 2012 Reference PDF
164.99 KB
16/10/2013 2013/LCC/039 ESMA Specific Privacy Notice – Public procurement , Reference PDF
119.46 KB
22/12/2014 2014/1583 Credit Rating Agencies’ 2014 market share calculations for the purposes of Article 8d of the CRA Regulation Reference PDF
330 KB
One of the objectives of the CRA Regulation is to increase competition in the markets for credit ratings by encouraging issuers to use smaller credit rating agencies. To this end, Article 8d(1) of the CRA Regulation states that where issuers or related third parties intend to appoint at least two CRAs to rate an issuance or entity, they shall consider appointing at least one CRA with no more than 10% of the total market share. They will consider this where the issuer or related third party finds that such a CRA is capable of rating the relevant issuance or entity and there is such a CRA available to rate the issuance or entity in question. Where it is not possible to appoint at least one CRA with no more than 10% of the total market share, the issuer or related third party shall document this. The obligations in Article 8d are supervised and enforced at national level by sectoral competent authorities. To help issuers and related third parties carry out this evaluation, Article 8d(2) of the CRA Regulation requires ESMA to publish a list of CRAs registered in the European Union (EU) on its website every year, indicating their total market share and the types of credit ratings issued.
03/09/2015 2014/713 Annual list of contractors- 2013 Reference PDF
185.3 KB
10/07/2015 2015/1174 Public statement- ESMA registers modeFinance as credit rating agency Reference PDF
107.03 KB
17/11/2015 2015/1736 form_to_reply_vr_cra Reference DOCX
783.87 KB
11/12/2015 2015/1870 Registration form Open Hearing on Discussion Paper Reference DOCX
334.56 KB
03/09/2015 2015/931 Annual list of contractors- 2014 Reference PDF
237.36 KB
29/06/2016 2016/1046 Annual list of contractors- 2015 Reference PDF
59.8 KB
13/07/2016 2016/1121 REPLY FORM Reply form for the Consultation Paper on the Guidelines on the validation and review of CRAs’ methodologies Reference DOCX
770.06 KB
29/09/2016 2016/1406 reply form Reply form to the Consultation paper on Benchmarks Reference DOCX
757.37 KB
30/09/2016 2016/1414 Methodological Framework- Model Written Arrangements for Benchmark Colleges Reference PDF
272.57 KB

Article 46 of the Regulation (EU) No 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (Regulation) provides that the competent authority of an administrator of a critical benchmark that is referred to in points (a) and (c) of Article 20(1) of the Regulation shall establish a college.

ESMA will be a member of every college and according to Article 46(7) of the Regulation may give advice concerning the written arrangements. To promote the convergent operation of benchmark colleges, ESMA has developed model written arrangements that may be used by administrators of critical benchmarks according to Article 46(6) of the Regulation.

11/02/2016 2016/203 2016 Supervisory Convergence Work Programme , Reference PDF
340.61 KB

The European Securities and Markets Authority’s (ESMA) Supervisory Convergence Work Programme for 2016 (2016 SCWP) supplements ESMA’s Annual Work Programme for 2016 (ESMA/2015/1475) by further elaborating the nature and focus of the work ESMA will carry out in order to promote supervisory convergence and how that will contribute to implementing ESMA’s Strategic Orientation for 2016-2020 (ESMA/2015/935).

The 2016 SCWP provides an overview and explanation of the steps ESMA will take in 2016 to promote sound, efficient and consistent supervision in the EU.  It sets out priority areas and how they have been identified and sets them in the context of the wider work programme and environment.

Implementation of the 2016 SCWP will be monitored in the course of 2016 and depending on developments during the year, priorities might be re-adjusted. It will also be used to inform ESMA’s Annual Report and its supervisory convergence work programme for future years which will be risk-based.

04/04/2016 2016/219 ToR CRA TC Reference PDF
204.41 KB

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