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Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies (Text with EEA relevance) article 22a CELEX: 02009R1060-20250117 Examination of compliance with methodology requirements
1. In the exercise of its ongoing supervision of credit rating agencies registered under this Regulation, ESMA shall examine regularly compliance with Article 8(3). 2. Without prejudice to Article 23, ESMA shall also in the framework of the examination referred to in paragraph 1: (a) verify the execution of back-testing by credit rating agencies; (b) analyse the results of that back-testing; and (c) verify that the credit rating agencies have processes in place to take into account the results of the back-testing in their rating methodologies. |