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ANNEX VIU.K.STANDARDISED APPROACH
PART 2U.K.Recognition of ECAIs and mapping of their credit assessments
3.‘MAPPING’U.K.
15.When competent authorities believe that the default rates experienced for the credit assessment of a particular ECAI are materially and systematically higher then the benchmark, competent authorities shall assign a higher credit quality step in the credit quality assessment scale to the ECAI credit assessment.U.K.