5. — Directive 2006/48/EC of the European Parliament and of the Council of 14 June…

5.

Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast) (Text with EEA relevance) · European Union

Before any recognition, competent authorities shall verify that the assessment methodology for each market segment is established according to standards such as the following: the back-testing must be established for at least one year; the regularity of the review process by the ECAI must be monitored by the competent authorities; and the competent authorities must be able to receive from the ECAI the extent of its contacts with the senior management of the entities which it rates.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.