Question ID: 3196
Regulation Reference: (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
Topic: Reporting Templates
Template: S.06.02
Status: Final
Date of submission: 26 Nov 2024
Question
According to C0320, we are not sure which rating scale should we use for short term deposits in local currency. Fitch provides Short-Term Issuer Default Rating and National Short-Term Credit Rating. How can we determine which rating scale should we use?
EIOPA answer
The external rating should reflect the long term rating of the counterpart.