ECB announces date for technical onboarding of Scope’s ratings

The European Central Bank has scheduled to start using Scope’s ratings from 16 December 2024 to assess the credit quality of marketable assets for use as collateral in monetary policy operations.

After the acceptance of Scope in the Eurosystem Credit Assessment Framework (ECAF) last November, and the inclusion of Scope’s asset-backed securities ratings in May 2024, the ECB has now announced on its website the final step for Scope’s integration in ECAF . From 16 December, Scope’s credit ratings for marketable securities will be operationally available in the Eurosystem. ?

Scope is the only European rating agency whose ratings will be used for monetary policy operations by the ECB and the central banks of euro area countries.

Implications of Scope’s acceptance for banks: The acceptance of Scope Ratings offers the ECB and market participants a wider set of credit opinions and it broadens the pool of eligible collateral as Scope rates assets and debt instruments not rated by the other agencies. More on the implications of Scope’s acceptance on the ECB Blog (Feb 2024).

About ECAF: The primary goal of ECAF is to ensure the creditworthiness of counterparties and the collateral used in the Eurosystem's credit operations. ECAF aims to harmonise credit assessment standards across the euro area, ensuring consistency and fairness in how collateral is assessed.?With ECAF accreditation, Scope’s credit ratings can be used to fulfil credit quality requirements of marketable assets that are eligible as collateral in Eurosystem monetary policy operations. More on ECAF .

More news on Scope Group:

• Crédit Agricole group becomes Scope's newest shareholder (Sep 2024)
• Deka to fully integrate and use Scope’s ratings (Oct 2024)
• ECB to include Scope’s ABS ratings in ECAF ?(June 2024)
• German Bundesl?nder mandate Scope Ratings (Feb 2024)
• ECB accepts Scope Ratings in its credit assessment framework ECAF ?(Nov 2023)

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