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					<dc:identifier>http://www.legislation.gov.uk/eur/2016/1799/article/6</dc:identifier><dc:title>Commission Implementing Regulation (EU) 2016/1799 of 7 October 2016 laying down implementing technical standards with regard to the mapping of credit assessments of external credit assessment institutions for credit risk in accordance with Articles 136(1) and 136(3) of Regulation (EU) No 575/2013 of the European Parliament and of the Council (Text with EEA relevance)</dc:title><dct:alternative>Commission Implementing Regulation (EU) 2016/1799</dct:alternative><dc:description>Commission Implementing Regulation (EU) 2016/1799 of 7 October 2016 laying down implementing technical standards with regard to the mapping of credit assessments of external credit assessment institutions for credit risk in accordance with Articles 136(1) and 136(3) of Regulation (EU) No 575/2013 of the European Parliament and of the Council (Text with EEA relevance)</dc:description><dc:publisher>King's Printer of Acts of Parliament</dc:publisher><dc:source>https://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02016R1799-20191224</dc:source><dc:type>text</dc:type><dc:format>text/xml</dc:format><dc:language>en</dc:language><dc:modified>2023-12-08</dc:modified><dc:contributor>Expert Participation</dc:contributor><dct:valid>2023-07-11</dct:valid>
					
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					<ukm:Alternatives><ukm:Alternative URI="http://www.legislation.gov.uk/eur/2016/1799/pdfs/eur_20161799_adopted_en.pdf" Date="2016-10-07" Size="483926"/><ukm:Alternative URI="http://www.legislation.gov.uk/eur/2016/1799/pdfs/eur_20161799_2018-05-15_en.pdf" Date="2018-05-15" Size="314739" Revised="2018-05-15"/><ukm:Alternative URI="http://www.legislation.gov.uk/eur/2016/1799/pdfs/eur_20161799_2019-12-24_en.pdf" Date="2019-12-24" Size="395462" Revised="2019-12-24"/> </ukm:Alternatives>
					
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									<ukm:TotalParagraphs Value="20"/>
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				</ukm:Metadata><EURetained><EUBody DocumentURI="http://www.legislation.gov.uk/eur/2016/1799/body" IdURI="http://www.legislation.gov.uk/id/eur/2016/1799/body" NumberOfProvisions="17" RestrictExtent="E+W+S+N.I." RestrictStartDate="2016-10-07"><EUTitle DocumentURI="http://www.legislation.gov.uk/eur/2016/1799/title/I" IdURI="http://www.legislation.gov.uk/id/eur/2016/1799/title/I" NumberOfProvisions="15" id="title-I" RestrictExtent="E+W+S+N.I." RestrictStartDate="2016-10-07"><Number>TITLE I</Number><Title>
               <Strong>QUANTITATIVE FACTORS, QUALITATIVE FACTORS AND BENCHMARK</Strong>
            </Title><EUChapter DocumentURI="http://www.legislation.gov.uk/eur/2016/1799/title/I/chapter/1" IdURI="http://www.legislation.gov.uk/id/eur/2016/1799/title/I/chapter/1" NumberOfProvisions="6" id="title-I-chapter-1" RestrictStartDate="2016-10-07" RestrictExtent="E+W+S+N.I."><Number>
                  <Emphasis>CHAPTER 1</Emphasis>
               </Number><Title>
                  <Strong>
                     <Emphasis>Quantitative factors</Emphasis>
                  </Strong>
               </Title><EUSection DocumentURI="http://www.legislation.gov.uk/eur/2016/1799/title/I/chapter/1/section/2" IdURI="http://www.legislation.gov.uk/id/eur/2016/1799/title/I/chapter/1/section/2" NumberOfProvisions="1" id="title-I-chapter-1-section-2" RestrictStartDate="2016-10-07" RestrictExtent="E+W+S+N.I."><Number>
                     <Expanded>Section 2</Expanded>
                  </Number><Title>
                     <Strong>
                        <Expanded>Calculation of the quantitative factors of a rating category where a sufficient number of credit ratings is not available</Expanded>
                     </Strong>
                  </Title><P1group RestrictStartDate="2016-10-07" RestrictExtent="E+W+S+N.I."><Title>Items used and long run default rate of a rating category where a sufficient number of credit ratings is not available</Title><P1 DocumentURI="http://www.legislation.gov.uk/eur/2016/1799/article/6" IdURI="http://www.legislation.gov.uk/id/eur/2016/1799/article/6" id="article-6">
                        <Pnumber>Article 6</Pnumber>
                        <P1para>
                           <Text>Where a sufficient number of credit ratings as referred to in Article 3 is not available, the calculation of the long run default rate specified in Article 1 shall be performed according to both the following:</Text>
                        </P1para>
                        <P1para>
                           <OrderedList Type="alpha" Decoration="parens">
                              <ListItem NumberOverride="(a)">
                                 <Para>
                                    <Text>it shall be based on the estimate provided by the ECAI of the long run default rate associated with all items assigned the same rating category, pursuant to point (a) of Article 136(2) of Regulation (EU) No 575/2013;</Text>
                                 </Para>
                              </ListItem>
                              <ListItem NumberOverride="(b)">
                                 <Para>
                                    <Text>the estimate referred to in point (a) shall be complemented with the number of defaulted and non-defaulted items assigned the rating category by the ECAI for which the mapping is being performed.</Text>
                                 </Para>
                              </ListItem>
                           </OrderedList>
                        </P1para>
                     </P1></P1group></EUSection></EUChapter></EUTitle></EUBody></EURetained></Legislation>