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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
03/02/2017 ESMA80-1467488426-27 Supervision Annual Report 2016 and Work Programme 2017 Credit Rating Agencies, Trade Repositories Report PDF
2.49 MB
18/05/2011 2011/139 Final report- Guidelines on the application of the endorsement regime under Article 4 (3) of the Credit Rating Agencies Regulation No 1060/2009 Credit Rating Agencies, Guidelines and Technical standards Guidelines & Recommendations PDF
653.98 KB
17/12/2012 2011/188 Cooperation including delegation between ESMA, the competent authorities and the sectoral competent authorities under Regulation (EU) No 513/2011 on credit rating agencies Credit Rating Agencies Guidelines & Recommendations PDF
190.32 KB
22/03/2012 2012/207 ESMA’s Report on the Supervision of Credit Rating Agencies Credit Rating Agencies Final Report PDF
323.81 KB		 This report provides an overview of ESMA’s supervisory activity on Credit Rating Agencies (CRAs) registered in the European Union and summarises the results of ESMA’s first examination of the three groups of registered CRAs (Fitch Ratings, Moody's Investors Services, and Standard & Poor's Rating Services). The examination referred to in this document is the first step in an ongoing supervisory process conducted by ESMA and therefore does not represent a full scope investigation. The observations set forth in this Report refer to common issues affecting CRAs activities. As of the date of this document, ESMA has not determined whether any observation highlighted below constitutes a breach of the provisions of the Regulation. ESMA is still progressing in its assessment of the areas discussed in this Report. This Report is not based on a decision by ESMA’s Board of Supervisors; therefore it is published without prejudice to the possibility of further investigations which could lead to enforcement or supervisory actions.
12/01/2012 2012/3 Annual report on the application of the Regulation on credit rating agencies as provided by Article 21(5) and Article 39a of the Regulation (EU) No 1060/2009 as amended by Regulation No 1095/2010 Credit Rating Agencies Final Report PDF
141.98 KB		 This is the first report under the new CRA regulation, however, please note that CESR published a report about the application of the Regulation in the EU and, in particular, on the implementation of the requirements established in Annex I of the Regulation on 6 December 2010 (CESR/10-1424), according to Article 21(4) of the Regulation which was subsequently amended by Regulation No (EC) 513/2011. At the time of publication, 16 CRA's have been registered.
02/12/2013 2013/1775 Sovereign ratings investigation- ESMA’s assessment of governance, conflicts of interest, resourcing adequacy and confidentiality controls Credit Rating Agencies Final Report PDF
302.99 KB		 This report summarises the findings of the European Securities and Markets Authority’s (ESMA) general investigation into sovereign credit ratings issued by Fitch Ratings, Moody’s Investors Service and Standard & Poor’s which took place between February and October 2013, as indicated in its Credit Rating Agencies (CRAs) 2013 Supervision and Policy Work Plan. In this report ESMA describes the observed deficiencies and main concerns while also identifying a number of good practices in the following areas: • the role of senior management and other non-rating functions in the rating process and the actual or potential conflicts of interest which could arise; • the actual or potential conflicts of interests generated by the involvement of sovereign analysts in research and publication activities; • confidentiality of sovereign rating information and controls in place prior to publication of ratings (including IT and access controls to confidential information); • timing of publication of sovereign ratings, including timely disclosure of rating changes; • monitoring of the adequacy and expertise of resources dedicated to sovereign ratings; • preparation of rating committees; and • definitions of roles and responsibilities among different analytical functions. ESMA’s investigation revealed shortcomings in the sovereign ratings process which could pose risks to the quality, independence and integrity of the ratings and of the rating process. As of the date of this document, ESMA has not determined whether any of the observations made in this report constitute serious indications of the possible existence of facts liable to constitute one or more infringements of the CRA Regulation.
18/03/2013 2013/308 Annual report on the application of the Regulation on credit rating agencies- 2012 Credit Rating Agencies Final Report PDF
601.08 KB		 This is the second annual report on the application of the Credit Rating Agencies Regulation. 
17/06/2013 2013/720 Guidelines and Recommendations on the Scope of the CRA Regulation Credit Rating Agencies Guidelines & Recommendations PDF
317.88 KB

Croatian translation is also available.
30/07/2013 2013/720 BG Guidelines and Recommendations on the Scope of the CRA Regulation Credit Rating Agencies, Guidelines and Technical standards Guidelines & Recommendations PDF
159.45 KB		 Насоки и препоръки Насоки и препоръки относно приложното поле на Регламента за АКР
30/07/2013 2013/720 CS Guidelines and Recommendations on the Scope of the CRA Regulation Credit Rating Agencies, Guidelines and Technical standards Guidelines & Recommendations PDF
140.94 KB		 Obecné pokyny a doporučení Obecné pokyny a doporučení k oblasti působnosti nařízení o ratingových agenturách
30/07/2013 2013/720 DA Guidelines and Recommendations on the Scope of the CRA Regulation Credit Rating Agencies, Guidelines and Technical standards Guidelines & Recommendations PDF
100.11 KB		 Retningslinjer og henstillinger Retningslinjer og henstillinger om CRA-forordningens anvendelsesområde
30/07/2013 2013/720 DE Guidelines and Recommendations on the Scope of the CRA Regulation Credit Rating Agencies, Guidelines and Technical standards Guidelines & Recommendations PDF
103.09 KB		 Leitlinien und Empfehlungen Leitlinien und Empfehlungen zum Geltungsbereich der CRA-Verordnung
30/07/2013 2013/720 EL Guidelines and Recommendations on the Scope of the CRA Regulation Credit Rating Agencies, Guidelines and Technical standards Guidelines & Recommendations PDF
143.76 KB		 Κατευθυντήριες γραμμές και συστάσεις Κατευθυντήριες γραμμές και συστάσεις σχετικά με το πεδίο εφαρμογής του κανονισμού
17/06/2013 2013/720 EN Guidelines and Recommendations on the Scope of the CRA Regulation Credit Rating Agencies, Guidelines and Technical standards Guidelines & Recommendations PDF
221.56 KB		 Croatian translation is also available.
30/07/2013 2013/720 ES Guidelines and Recommendations on the Scope of the CRA Regulation Credit Rating Agencies, Guidelines and Technical standards Guidelines & Recommendations PDF
103.74 KB		 Directrices y recomendaciones Directrices y recomendaciones sobre el ámbito de aplicación del Reglamento relativo a las agencias de calificación crediticia
30/07/2013 2013/720 ET Guidelines and Recommendations on the Scope of the CRA Regulation Credit Rating Agencies, Guidelines and Technical standards Guidelines & Recommendations PDF
101.35 KB		 Suunised ja soovitused Reitinguagentuure käsitleva määruse reguleerimisala käsitlevad suunised ja soovitused
30/07/2013 2013/720 FI Guidelines and Recommendations on the Scope of the CRA Regulation Credit Rating Agencies, Guidelines and Technical standards Guidelines & Recommendations PDF
100.69 KB		 Ohjeita ja suosituksia Luottoluokituslaitoksista annetun asetuksen soveltamisalaa koskevia ohjeita ja suosituksia
30/07/2013 2013/720 FR Guidelines and Recommendations on the Scope of the CRA Regulation Credit Rating Agencies, Guidelines and Technical standards Guidelines & Recommendations PDF
108.46 KB		 Orientations et recommandations Orientations et recommandations sur le champ d’application du règlement sur les agences de notation de crédit
30/07/2013 2013/720 HR Guidelines and Recommendations on the Scope of the CRA Regulation Credit Rating Agencies, Guidelines and Technical standards Guidelines & Recommendations PDF
137.57 KB		 Smjernice i preporuke Smjernice i preporuke o djelokrugu CRA Uredbe
30/07/2013 2013/720 HU Guidelines and Recommendations on the Scope of the CRA Regulation Credit Rating Agencies, Guidelines and Technical standards Guidelines & Recommendations PDF
142.12 KB		 Iránymutatások és ajánlások Iránymutatások és ajánlások a hitelminősítő intézetekről szóló rendelet hatályáról

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