{
  "url": "https://openlegislation.uk/eu-regulation-2012-449/article-16",
  "json_url": "https://openlegislation.uk/eu-regulation-2012-449/article-16.json",
  "legislation": "eur/2012/449",
  "legislation_title": "Commission Delegated Regulation (EU) No 449/2012 of 21 March 2012 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards on information for registration and certification of credit rating agencies (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2012-449",
  "path": "article/16",
  "kind": "article",
  "number": "16",
  "heading": "Development, validation, review and disclosure of rating methodologies",
  "text": "1. A credit rating agency shall provide ESMA, for each class of credit rating, with a high-level description of the range of core models and methodologies used to determine credit ratings.\n2. A credit rating agency shall provide ESMA with the following information regarding its policies and procedures:\n(a) information regarding the development, validation and review of its rating methodologies, including at least the information set out in point 1 of Annex VII;\n(b) information regarding the disclosure of the credit methodologies and descriptions of models and key rating assumptions used in its credit rating activities as set out in point 5 of Part I of Section E of Annex I to Regulation (EC) No 1060/2009.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2012/449/article/16",
    "retrieved_at": "2026-11-01T14:49:25.461337+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}