SCHEDULE 1 U.K. Recognition of ECAIs

PART 2 U.K. Credit assessments

9.  The [F1 PRA] must assess credibility according to factors such as the following— U.K.

(a) market share of the ECAI;

(b) revenues generated by the ECAI;

(c) financial resources of the ECAI;

(d) whether there is any pricing on the basis of the rating;

(e) whether at least two credit institutions use the individual credit assessments of the ECAI for—

(i) bond issuing, or

(ii) assessing credit risks.

Textual Amendments

F1 Words in Sch. 1 substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 118(aa) (with Sch. 2 para. 119)