S.L. 371.16 · Banking Act (Supervisory Review) (S.L. 371.16)
S.L. 371.16 Art. 14Sole or mechanistic reliance on external credit ratings.
Title VII of the CRD and in particular in Article 86 of
The competent authority shall, taking into account the nature, scale and complexity of the credit institutions’ activities, monitor that credit institutions do not solely or mechanistically rely on external credit ratings for assessing the creditworthiness of an entity or financial instrument.