Discussion Paper - The Use of Credit Ratings by Financial Intermediaries Article 5(a) of the CRA Regulation

Responding to this paper
EBA, ESMA and EIOPA (the ESAs) invite comments on all matters of this discussion paper and, in particular, on the specific questions listed in Annex I. Comments are most helpful if they:
• indicate the number of the question to which the comments relates;
• indicate the name and business of the contributor;
• respond to the question stated;
• contain a clear rationale, including on any related costs and benefits; and
• describe any alternative ESMA, EBA, EIOPA should consider.
Comments should reach us by 13 March 2015.
All contributions should be submitted online at www.esma.europa.eu under the heading “Your input/Consultations”.
Publication of responses
All contributions received will be published on the ESAs’ websites following the end of the consultation period, unless otherwise requested. Please clearly and prominently indicate in your submission any part you do not wish to be publically disclosed. A standard confidentiality statement in an email message will not be treated as a request for non-disclosure. Note also that a confidential response may be requested in accordance with ESAs’ rule on access to documents. We may consult you if we receive such a request. Any decision we make is reviewable by the ESAs’ Board of Appeal and the European Ombudsman.