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Location: Auditorium, ESMA, 103 Rue de Grenelle – 75007, Paris
Date : 25 January 2015
Time : 10:00 to 12:00
Conditions:
To attend the hearing, please sign up using the form below. Please make sure that you fill in all the fields.
We ask that attendance is restricted to two participants per entity or group of entities.
Registrations are open until 18 January 2015.
Contact : SUP_secretariat@esma.europa.eu
Hearing on
The European Securities and Markets Authority (ESMA) will hold an open hearing on the issues set out in its Discussion Paper on the Validation and Review of Credit Rating Agencies’ methodologies published in November 2015.
The discussion paper requests views on how CRAs should demonstrate rating methodologies’ ‘discriminatory power’, ‘historical robustness’, ‘predictive power’ or, where there is limited quantitative evidence, that the methodologies are ‘sensible predictors of credit worthiness’. In addition, the DP asks how CRAs should meet the requirement in both Articles 7 and 8 of Commission Delegated Regulation (EU) No 447/2012 on rating methodologies that the CRAs shall have ‘processes in place to ensure that systemic credit rating anomalies highlighted by back-testing are identified and are appropriately addressed’.
The purpose of this discussion paper is to help ESMA to develop further its views on the quantitative and qualitative techniques used as part of the validation of methodologies required under the CRA Regulation.
This hearing will be of interest to all credit rating agencies supervised by ESMA. It is will also be of interest to all users of credit ratings, but particularly those with a background in the validation of credit risk models and methodologies.
Registration
Please use the registration form below and send it to the following email address: SUP_secretariat@esma.europa.eu
Registrations are open until 18 January 2015.
Places will be assigned on a ‘first come, first served’ basis and participation is limited to two persons per entity or group of entities. Should we receive more than two registrations for an entity or group of entities, we will contact registrants to ask for the names of the two persons that should be put on the attendance list. Applicants will receive final confirmation of their attendance by email.
2015/1870 Registration form Open Hearing on Discussion Paper
