10 November 2023

• Scope Ratings GmbH accepted as a new external credit assessment institution
• Acceptance to be followed by an implementation process
• ABS ratings issued by Scope Ratings GmbH will become eligible for Eurosystem monetary policy purposes when compliance with the Eurosystem eligibility requirements is established

On 2 November 2023, the Governing Council decided to accept the credit rating agency Scope Ratings GmbH (Scope Ratings) as a new external credit assessment institution (ECAI) for the purposes of the Eurosystem Credit Assessment Framework (ECAF). This decision follows a thorough Eurosystem assessment of the application submitted by Scope Ratings. In its assessment the Eurosystem considered all the acceptance criteria for ECAIs, which encompass quantitative and qualitative criteria, as well as any relevant supervisory feedback from the European Securities and Markets Authority (ESMA). The registration by ESMA is also a precondition for an agency’s acceptance within…