# Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (Text with EEA relevance), Article 169: General principles

Extent: E+W+S+N.I.

1. Where an institution uses multiple rating systems, the rationale for assigning an obligor or a transaction to a rating system shall be documented and applied in a manner that appropriately reflects the level of risk.
2. Assignment criteria and processes shall be periodically reviewed to determine whether they remain appropriate for the current portfolio and external conditions.
3. Where an institution uses direct estimates of risk parameters for individual obligors or exposures these may be seen as estimates assigned to grades on a continuous rating scale.

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Source: https://www.legislation.gov.uk/eur/2013/575/article/169 (the official version)
Page: https://openlegislation.uk/eu-regulation-2013-575/article-169
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.