- EBA Final Q&A 2024_7220 (issued 13 March 2026) clarifies that certain ECAI credit assessments fall outside Regulation (EC) No 1060/2009 CRA scope
- The ruling directly impacts investment firms and asset managers relying on external credit assessment institutions for portfolio management and client reporting
- COREP template C_67.00.a and C_67.00.w now require “new_CO4” subcategory for DPM v4.2 technical compliance, effective immediately
Regulatory Carve-Out Simplifies ECAI Classification
The European Banking Authority has published Final Q&A 2024_7220, providing essential clarification that designates certain ECAI credit assessments beyond the regulatory scope of the Credit Rating Agencies Regulation (CRA Regulation). This distinction removes mandatory compliance requirements for firms using specific categories of credit assessment instruments. The ruling eliminates ambiguity surrounding which assessment types trigger full CRA-level oversight, streamlining due diligence obligations for institutions managing third-party credit inputs in investment portfolios and institutional reporting workflows.
COREP Template Revisions Mandate Immediate Implementation
Simultaneously, the EBA has issued technical implementation guidance for COREP Additional Liquidity Monitoring Metrics under DPM v4.2, requiring firms to deploy the “new_CO4” subcategory in templates C_67.00.a and C_67.00.w instead of the deprecated “new_CO1” classification. This technical amendment affects regulatory reporting infrastructure across EU banking institutions, necessitating prompt IT system upgrades to ensure compliant data submission structures.
The ECAI scope carve-out reduces compliance friction for European asset managers, though the simultaneous COREP template revision demands technical agility—firms with legacy reporting systems risk non-compliance without immediate remediation.
