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2006 relating to the taking up and pursuit of the business of credit institutions (recast) (Text with EEA relevance) (repealed) (c. 48)

ANNEX VI U.K. STANDARDISED APPROACH

PART 3 U.K. Use of ECAIs' credit assessments for the determination of risk weights

2. ISSUER AND ISSUE CREDIT ASSESSMENT U.K.

8. Where a credit assessment exists for a specific issuing program or facility to which the item constituting the exposure belongs, this credit assessment shall be used to determine the risk weight to be assigned to that item. U.K.

9. Where no directly applicable credit assessment exists for a certain item, but a credit assessment exists for a specific issuing program or facility to which the item constituting the exposure does not belong or a general credit assessment exists for the issuer, then that credit assessment shall be used if it produces a higher risk weight than would other wise be the case or if it produces a lower risk weight and the exposure in question ranks pari passu or senior in all respects to the specific issuing program or facility or to senior unsecured exposures of that issuer, as relevant. U.K.

10. Points 8 and 9 are not to prevent the application of points 68 to 71 of Part 1. U.K.

11. Credit assessments for issuers within a corporate group cannot be used as credit assessment of another issuer within the same corporate group. U.K.