Crr-Mappingverordnung-Crr-Mappingv

Original Language Title: CRR-Mappingverordnung – CRR-MappingV

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.

382. Regulation of the Financial Markets Authority (FMA) on the assignment of credit ratings of recognised rating agencies to credit rating levels (CRR-Mappingverordnung-CRR-MappingV)

On the basis of § 103q Z 5 of the Banking Act-BWG, BGBl. No. 532/1993, as last amended by the Federal Law BGBl. I No 184/2013, shall be arranged:

Assignment of ratings to credit ratings

§ 1. The assignment of the credit rating agencies issued by recognised credit rating agencies pursuant to Articles 4 and 5 of Regulation (EC) No 1060/2009, OJ L 327, 22.10.2009, p. No. 1, credit ratings for credit ratings within the exposure classes in accordance with Articles 109 and 112 of Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms and amending the Regulation (EU) No 646/2012, OJ L 206, 22.7.2012. OJ L 176 of 27.06.2013 p. 1, shall be made on the basis of the tables in § § 2 to 5.

Fitch Ratings

§ 2. The ratings awarded by Fitch Ratings shall be assigned to the credit rating levels within the exposure classes according to Articles 109 and 112 of Regulation (EU) No 575/2013 as follows:

1.

Long-term ratings for receivables within the exposure classes under Art. 112 of Regulation (EU) No 575/2013:

Credit level

1

2

3

4

5

6

Rating

AAA to AA-

A + to A-

BBB + to BBB-

BB + to BB-

B + to B-

CCC + and lower

2.

Short-term ratings for receivables within the exposure classes under Art. 112 of Regulation (EU) No 575/2013:

Credit level

1

2

3

4

5

6

Rating

F1 + to F1

F2

F3

Lower than F3

---

---

3.

Short-term ratings for receivables within the exposure class according to Art. 112 lit. m of Regulation (EU) No 575/2013 (standard credit risk standard):

Credit level

1

2

3

All other credit ratings

Rating

F1 + to F1

F2

F3

Lower than F3

4.

Long-term ratings for receivables within the exposure class according to Art. 112 lit. m of Regulation (EU) No 575/2013 (standard credit risk standard):

Credit level

1

2

3

4

5 and below

Rating

AAA to AA-

A + to A-

BBB + to BBB-

BB + to BB-

B + and lower

5.

Long-term ratings for receivables within the exposure class according to Art. 147 (2) (lit). Regulation (EU) No 575/2013 (Ratings-based approach):

Credit level

1

2

3

4

5

6

7

8

9

10

11

Below 11

Rating

AAA

AA

A +

A

A-

BBB +

BBB

BBB-

BB +

BB

BB-

Lower than BB-

6.

Short-term ratings for receivables within the exposure class according to Art. 147 (2) lit. Regulation (EU) No 575/2013 (Ratings-based approach)

Credit level

1

2

3

All other credit ratings

Rating

F1 + to F1

F2

F3

Lower than F3

7.

Ratings for receivables within the exposure class according to Art. 112 lit. o of Regulation (EU) No 575/2013:

Credit level

1

2

3

4

5

6

Rating

AAA to AA-

A + to A-

BBB + to BBB-

BB + to BB-

B + to B-

CCC + and lower

Moody's Investors Service Ltd

§ 3. The ratings awarded by Moody's Investors Service Ltd. shall be assigned to the credit rating levels within the exposure classes according to Articles 109 and 112 of Regulation (EU) No 575/2013 as follows:

1.

Long-term ratings for receivables within the exposure classes under Art. 112 of Regulation (EU) No 575/2013:

Credit level

1

2

3

4

5

6

Rating

Aaa to Aa3

A1 to A3

Baa1 to Baa3

Ba1 to Ba3

B1 to B3

Caa1 and lower

2.

Short-term ratings for receivables within the exposure classes under Art. 112 of Regulation (EU) No 575/2013:

Credit level

1

2

3

4

5

6

Rating

P-1

P-2

P-3

NP

---

---

3.

Short-term ratings for receivables within the exposure class according to Art. 112 lit. m of Regulation (EU) No 575/2013 (standard credit risk standard):

Credit level

1

2

3

All other credit ratings

Rating

P-1

P-2

P-3

NP

4.

Long-term ratings for receivables within the exposure class according to Art. 112 lit. m of Regulation (EU) No 575/2013 (standard credit risk standard):

Credit level

1

2

3

4

5 and below

Rating

Aaa to Aa3

A1 to A3

Baa1 to Baa3

Ba1 to Ba3

B1 and lower

5.

Long-term ratings for receivables within the exposure class according to Art. 147 (2) (lit). Regulation (EU) No 575/2013 (Ratings-based approach):

Credit level

1

2

3

4

5

6

7

8

9

10

11

Below 11

Rating

Aaa

Aa

A1

A2

A3

Baa1

Baa2

Baa3

Ba1

Ba2

Ba3

Lower than Ba3

6.

Short-term ratings for receivables within the exposure class according to Art. 147 (2) lit. Regulation (EU) No 575/2013 (Ratings-based approach):

Credit level

1

2

3

All other credit ratings

Rating

P-1

P-2

P-3

All short-term ratings, which are lower than A3, P3 and F3

7.

Ratings for receivables within the exposure class according to Art. 112 lit. o of Regulation (EU) No 575/2013:

Credit level

1

2

3

4

5

6

Rating

Aaa to Aa3

A1 to A3

Baa1 to Baa3

Ba1 to Ba3

B1 to B3

Caa1 and lower

Standard & Poor's

§ 4. The ratings awarded by Standard & Poor's are to be assigned to the credit rating levels within the exposure classes according to Articles 109 and 112 of Regulation (EU) No 575/2013 as follows:

1.

Long-term ratings for receivables within the exposure classes under Art. 112 of Regulation (EU) No 575/2013:

Credit level

1

2

3

4

5

6

Rating

AAA to AA-

A + to A-

BBB + to BBB-

BB + to BB-

B + to B-

CCC + and lower

2.

Short-term ratings for receivables within the exposure classes under Art. 112 of Regulation (EU) No 575/2013:

Credit level

1

2

3

4

5

6

Rating

A-1 +, A-1

A-2

A-3

All short-term ratings, which are lower than A-3

---

---

3.

Short-term ratings for receivables within the exposure class according to Art. 112 lit. m of Regulation (EU) No 575/2013 (standard credit risk standard):

Credit level

1

2

3

All other credit ratings

Rating

A-1 +, A-1

A-2

A-3

All short-term ratings, which are lower than

A-3

4.

Long-term ratings for receivables within the exposure class according to Art. 112 lit. m of Regulation (EU) No 575/2013 (standard credit risk standard):

Credit level

1

2

3

4

5 and below

Rating

AAA to AA-

A + to A-

BBB + to BBB-

BB + to BB-

B + and lower

5.

Long-term ratings for receivables within the exposure class Art. 147 (2) (lit). Regulation (EU) No 575/2013 (Ratings-based approach):

Credit level

1

2

3

4

5

6

7

8

9

10

11

Below 11

Rating

AAA

AA

A +

A

A-

BBB +

BBB

BBB-

BB +

BB

BB-

Lower than BB-

6.

Short-term ratings for receivables within the exposure class according to Art. 147 (2) lit. Regulation (EU) No 575/2013 (Ratings-based approach):

Credit level

1

2

3

All other credit ratings

Rating

A-1 +, A-1

A-2

A-3

All short-term ratings, which are lower than A-3

7.

Ratings for receivables within the exposure class according to Art. 112 lit. o of Regulation (EU) No 575/2013 BWG:

Credit level

1

2

3

4

5

6

S&P Principal Stability Fund

AAA m to AA-m

A + m to A-m

BBB + m to BBB-m

BB + m to BB-m

B + m to B-m

CCC + m and lower

S&P Fund Credit Quality

AAA f to AA-f

A + f to A-f

BBB + f to BBB-f

BB + f to BB-f

B + f to B-f

CCC + f and lower

Dominion Bond Ratings Services

§ 5. The ratings awarded by Dominion Bond Ratings Services shall be assigned to the credit ratings within the exposure classes according to Articles 109 and 112 of Regulation (EU) No 575/2013 as follows:

1.

Long-term ratings for receivables within the exposure classes under Art. 112 of Regulation (EU) No 575/2013:

Credit level

1

2

3

4

5

6

Rating

AAA to AAL

AH to AL

BBBH to BBBL

BBH to BBL

BH to BL

CCCH and lower

2.

Short-term ratings for receivables within the exposure classes under Art. 112 of Regulation (EU) No 575/2013:

Credit level

1

2

3

4

5

6

Rating

R-1 (high), R-1 (middle), R-1 (low)

R-2 (high), R-2 (middle) and R-2 (low)

R-3

R-4, R-5

---

---

3.

Short-term ratings for receivables within the exposure class according to Art. 112 lit. m of Regulation (EU) No 575/2013 (standard credit risk standard):

Credit level

1

2

3

All other credit ratings

Rating

R-1 (high), R-1 (middle), R1 (low)

R-2 (high), R-2 (middle), R-2 (low)

R-3

All short-term ratings, which are lower than

R-3

4.

Long-term ratings for receivables within the exposure class according to Art. 112 lit. m of Regulation (EU) No 575/2013 (standard credit risk standard):

Credit level

1

2

3

4

5 and below

Rating

AAA to AAL

AH to AL

BBBH to BBBL

BBH to BBL

BH and lower

5.

Long-term ratings for receivables within the exposure class according to Art. 147 (2) (lit). Regulation (EU) No 575/2013 (Ratings-based approach):

Credit level

1

2

3

4

5

6

7

8

9

10

11

Below 11

Rating

AAA

AA

AH

A

AL

BBBH

BBB

BBBL

BBH

BB

BBL

Lower than BBL

6.

Short-term ratings for receivables within the exposure class according to Art. 147 (2) lit. Regulation (EU) No 575/2013 (Ratings-based approach):

Credit level

1

2

3

All other credit ratings

Rating

R-1 (high), R-1 (middle), R1 (low)

R-2 (high), R-2 (middle), R-2 (low)

R-3

All short-term ratings, which are lower than

R-3

§ 6. (1) This Regulation shall enter into force 1. Jänner 2014 in force.

(2) The Regulation of the Financial Markets Authority (FMA) on the assignment of credit ratings of recognised credit rating agencies to credit rating levels (mapping regulation), BGBl. II n ° 113/2007, as last amended by the Federal Law BGBl. II No 461/2011, with the expiry of 31 December 2013.

Ettl Kumpfmüller