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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

You are viewing the version of the document as on 2021-01-01.

ANNEX I Table 1 Reporting of pricing policies per rating class in force and subsequent material updates Table 2 Reporting of fee schedules per rating class in force and subsequent material updates Table 3 Reporting of fee programmes per rating class in force and subsequent material updates Table 4 Reporting of pricing procedures in force and subsequent material updates

Table 1 Reporting of pricing policies per rating class in force and subsequent material updates

No.

Field name

Description

Type

Standard

1

CRA identifier

Code used to identify the reporting credit rating agency. It is provided by the FCA upon registration.

Mandatory

2

CRA scope

Identification of the CRAs applying the pricing policy.

Mandatory

ISO 17442

3

Pricing policy identifier

Unique identifier of the pricing policy that shall be maintained. All changes other than the scope of the rating types covered by the pricing policy should maintain the same unique identifier. Changes in the scope require a new pricing policy identifier.

Mandatory

Pricing policy identifier in format "PP_[internal pricing policy identifier]"

4

Pricing policy validity date

The date from which the pricing policy is valid.

Mandatory

ISO 8601 date format (YYYY-MM-DD)

5

Pricing policy end date

The end validity date of the pricing policy.

Mandatory

ISO 8601 date format (YYYY-MM-DD) or 9999-01-01

6

Indication of model

Indication of whether the pricing policy relates to issuer-pays ratings or investor-pays or subscriber-pays model. The FCA understands that CRAs may operate services under more than one model and therefore it is possible that a pricing policy may be used for both types of models. In such cases I and S may both be chosen.

Mandatory

  • "I" for issuer-pays model, and/or
  • "S" for investor-pays or subscriber-pays model

7

Scope of the pricing policy

Description of the type of ratings or ancillary services included or covered by the pricing policy.

Mandatory

Indication whether the pricing policy applies to one or more of:

  • "All",
  • "C" for corporate ratings (excluding covered bonds),
  • "S" for sovereign and public finance ratings,
  • "T" for structured finance ratings,
  • "B" for covered bond ratings,
  • "O" other types of ratings,
  • "A" for ancillary services.

8

Industry segment of the pricing policy

When reporting corporate ratings indication whether the pricing policy applies to ratings within one of these industry segments: (i) financial; (ii) insurance; (iii) other corporates.

Mandatory

Applicable only if "C" in field 7 "Scope of the pricing policy"

Indication whether the pricing policy applies to one or more of:

  • "All",
  • FI — for financial institutions including banks, brokers and dealers,
  • IN — for insurance rating type,
  • CO — for corporate issuers that do not belong to FI or IN classes.

9

Asset class of the pricing policy

When reporting structured finance ratings indication whether the pricing policy applies to ratings within one of these segments: (i) RMBS; (ii) ABS; (iii) CMBS; (iv) CDO; (v) ABCP; (vi) other.

Mandatory

Applicable only if "T" in field 7 "Scope of the pricing policy"

Indication whether the pricing policy applies to one or more of:

  • "All",
  • "RMBS" for RMBS ratings,
  • "ABS" for ABS ratings,
  • "CMBS" for CMBS ratings,
  • "CDO" for CDO ratings,
  • "ABCP" for ABCP ratings,
  • "OTH" other.

10

Sector

When reporting sovereign and public finance ratings indication whether the pricing policy applies to ratings within one of these segments: (i) State rating; (ii) regional or local authority rating; (iii) supranational organisations (other than international financial institutions); (iv) public entities; (v) international financial institutions.

Mandatory

Applicable only if "S" in field 7 "Scope of the pricing policy"

Indication whether the pricing policy applies to one or more of:

  • "All",
  • "SV" — State rating,
  • "SM" — regional or local authority rating,
  • "SO" — supranational organisations rating other than "IF",
  • "PE" — public entities rating,
  • "IF" — international financial institutions.

11

Previous pricing policy

The identification of the prior pricing policy which the current policy replaces.

Mandatory

Applicable if the current pricing policy changes the scope of application of a previous pricing policy

Pricing policy identifier in format "PP_[internal pricing policy identifier]"

12

Pricing policy file name

Pricing policy file name. Shall be reported in a zip format

Mandatory

Table 2 Reporting of fee schedules per rating class in force and subsequent material updates

No.

Field name

Description

Type

Standard

1

CRA identifier

Code used to identify the reporting credit rating agency. It is provided by the FCA upon registration.

Mandatory

2

CRA scope

Identification of the CRAs applying the fee schedule.

Mandatory

ISO 17442

3

Fee schedule identifier

Unique identifier of the fee schedule that shall be maintained over time. All changes other than the scope of the rating types covered by the fee schedule should maintain the same unique identifier. Changes in the scope require a new fee schedule identifier.

Mandatory

Fee schedule identifier in format "FS_[internal fee schedule identifier]"

4

Pricing policy identifier

Identification of the pricing policy which the fee schedule is meant to implement. This pricing policy identifier must correspond to the identifier(s) set out under Table 1 of Annex I.

Mandatory

Pricing policy identifier in format "PP_[internal pricing policy identifier]"

5

Fee schedule validity date

The date from which the fee schedule is valid.

Mandatory

ISO 8601 date format (YYYY-MM-DD)

6

Fee schedule end date

The end validity date of the fee schedule.

Mandatory

ISO 8601 date format (YYYY-MM-DD) or 9999-01-01

7

Indication of model

Indication of whether fee schedule relates to issuer-pays ratings or investor-pays model.

Mandatory

  • "I" for issuer-pays model,
  • "S" for investor-pays or subscriber-pays model.

8

Rating type scope of the fee schedule

Description of the type of ratings or ancillary services included in the fee schedule.

Mandatory

Indication whether the fee schedule applies to one or more of:

  • "All",
  • "C" for corporate ratings (excluding covered bonds),
  • "S" for sovereign and public finance ratings,
  • "T" for structured finance ratings,
  • "B" for covered bond ratings,
  • "O" other types of ratings,
  • "A" for ancillary services.

9

Industry segment of the fee schedule

When reporting corporate ratings indication whether the fee schedule applies to ratings within one of these industry segments: (i) financial; (ii) insurance; (iii) other corporates.

Mandatory.

Applicable only if "C" in field 8 "Rating type scope of the fee schedule"

Indication whether the fee schedule applies to one or more of:

  • "All"
  • "FI" — for financial institutions including banks, brokers and dealers,
  • "IN" — for insurance rating type,
  • "CO" — for corporate issuers that do not belong to FI or IN classes.

10

Asset class of the fee schedule

When reporting structured finance ratings indication whether the fee schedule applies to ratings within one of these segments: (i) RMBS; (ii) ABS; (iii) CMBS; (iv) CDO; (v) ABCP; (vi) other.

Mandatory.

Applicable only if "T" in field 8 "Rating type scope of the fee schedules"

Indication whether the fee schedule applies to one or more of:

  • "All",
  • "RMBS" for RMBS ratings,
  • "ABS" for ABS ratings,
  • "CMBS" for CMBS ratings,
  • "CDO" for CDO ratings,
  • "ABCP" for ABCP ratings,
  • "OTH" other.

11

Sector of the fee schedule

When reporting sovereign and public finance ratings indication whether the fee schedule applies to ratings within one of these segments: (i) State rating; (ii) regional or local authority rating; (iii) supranational organisations (other than international financial institutions); (iv) public entities; (v) international financial institutions.

Mandatory.

Applicable only if "S" in field 8 "Rating type scope of the fee schedules"

Indication whether the fee schedule applies to one or more of:

  • "All",
  • SV — State rating,
  • SM — regional or local authority rating,
  • SO — supranational organisations rating other than "IF",
  • PE — public entities rating,
  • IF — international financial institutions.

12

Sub-asset of the fee schedule

Defines the sub-asset classes for structured finance ratings.

Mandatory.

Applicable only if "T" in field 8 and "Asset class" = "ABS" or "RMBS" or "CDO" or "OTH".

Indication whether the fee schedule applies to one or more of:

  • "All",
  • CCS — if ABS: credit card receivable backed securities,
  • ALB — if ABS: auto loan backed securities,
  • CNS — if ABS: consumer loan backed security
  • SME — if ABS: small and medium-sized enterprises loan backed securities,
  • LES — if ABS: leases to individual or business backed security,
  • HEL — if RMBS: home equity loans,
  • PRR — if RMBS: prime RMBS,
  • NPR — if RMBS: non-prime RMBS,
  • CFH — if CDO: cash flow and hybrid CDOs/CLOs,
  • SDO — if CDO: synthetic CDOs/CLOs,
  • MVO — if CDO: Market value CDOs,
  • SIV — if OTH: structured investment vehicles,
  • ILS — if OTH: insurance-linked securities,
  • DPC — if OTH: derivative product companies,
  • SCB — if OTH: structured covered bonds,
  • OTH — other.

13

Previous fee schedule

The identification of the prior fee schedule which the current fee schedule replaces.

Applicable if the current fee schedule changes the scope of application of a previous fee schedule

Fee schedule identifier in format "FS_[internal fee schedule identifier]"

14

Fee schedule file name

Fee schedule file name. Shall be reported in a zip format

Mandatory

Table 3 Reporting of fee programmes per rating class in force and subsequent material updates

No.

Field name

Description

Type

Standard

1

CRA identifier

Code used to identify the reporting credit rating agency. It is provided by the FCA upon registration.

Mandatory

2

CRA scope

Identification of the CRAs applying the fee programme.

Mandatory

ISO 17442

3

Fee programme identifier

Unique identifier of the fee programme that shall be maintained over time. All changes other than the scope of the rating types or type of programme covered by the fee programme should maintain the same unique identifier. Changes in the scope require a new fee programme identifier.

Mandatory

Fee programme identifier in format "FP_[internal fee programme identifier]"

4

Pricing policy identifier

Identification of the pricing policy which the fee programme is meant to implement. This pricing policy identifier must correspond to the identifier(s) set out under Table 1 of Annex I.

Mandatory

Pricing policy identifier in format "PP_[internal pricing policy identifier]"

5

Fee programme validity date

The date from which the fee programme is valid.

Mandatory

ISO 8601 date format (YYYY-MM-DD)

6

Fee programme end date

The end validity date of the fee programme.

Mandatory

7

Indication of model

Indication of whether fee programme relates to issuer-pays ratings or investor-pays or subscriber-pays model.

Mandatory

  • "I" for issuer-pays model, and/or
  • "S" for investor-pays or subscriber-pays model.

8

Rating type scope of the fee programme

Description of the type of ratings or ancillary services included in the fee programme.

Mandatory

Indication whether the fee programme applies to one or more of:

  • "All",
  • "C" for corporate ratings (excluding covered bonds),
  • "S" for sovereign and public finance ratings,
  • "T" for structured finance ratings,
  • "B" for covered bond ratings,
  • "O" other types of ratings,
  • "A" for ancillary services.

9

Industry segment of the fee programme

When reporting corporate ratings indication whether the fee programme applies to ratings within one of these industry segments: (i) financial; (ii) insurance; (iii) other corporates.

Mandatory

Applicable only if "C" in field 8 "Scope of the fee programme"

Indication whether the fee programme applies to one or more of:

  • "All",
  • FI — for financial institutions including banks, brokers and dealers,
  • IN — for insurance rating type,
  • CO — for corporate issuers that do not belong to FI or IN classes.

10

Asset class of the fee programme

When reporting structured finance ratings indication whether the fee programme applies to ratings within one of these segments: (i) RMBS; (ii) ABS; (iii) CMBS; (iv) CDO; (v) ABCP; (vi) other.

Mandatory

Applicable only if "T" in field 8 "Rating scope of the fee programme"

Indication whether the fee programme applies to one or more of:

  • "All",
  • "RMBS" for RMBS ratings,
  • "ABS" for ABS ratings,
  • "CMBS" for CMBS ratings,
  • "CDO" for CDO ratings,
  • "ABCP" for ABCP ratings,
  • "OTH" other.

11

Sector of the fee programme

When reporting sovereign and public finance ratings indication whether the fee programme applies to ratings within one of these segments: (i) State rating; (ii) regional or local authority rating; (iii) supranational organisations (other than international financial institutions); (iv) public entities; (v) international financial institutions.

Mandatory

Applicable only if "S" in field 8 "Rating type scope of the fee programme"

Indication whether the fee programme applies to one or more of:

  • "All",
  • SV — State rating,
  • SM — regional or local authority rating,
  • SO — supranational organisations rating other than "IF",
  • PE — public entities rating,
  • IF — international financial institutions

12

Sub-asset of the fee programme

Defines the sub-asset classes for structured finance ratings.

Mandatory.

Applicable only if "T" in field 8 and "Asset class" = "ABS" or "RMBS" or "CDO" or "OTH".

Indication whether the fee programme applies to one or more of:

  • "All",
  • CCS — if ABS: credit card receivable backed securities,
  • ALB — if ABS: auto loan backed securities,
  • CNS — if ABS: Consumer loan backed security,
  • SME — if ABS: small and medium-sized enterprises loan backed securities,
  • LES — if ABS: leases to individual or business backed security,
  • HEL — if RMBS: home equity loans,
  • PRR — if RMBS: prime RMBS
  • NPR — if RMBS: non-prime RMBS,
  • CFH — if CDO: cash flow and hybrid CDOs/CLOs,
  • SDO — if CDO: synthetic CDOs/CLOs,
  • MVO — if CDO: market value CDOs,
  • SIV — if OTH: structured investment vehicles,
  • ILS — if OTH: insurance-linked securities,
  • DPC — if OTH: derivative product companies,
  • SCB — if OTH: structured covered bonds,
  • OTH — other.

13

Type of programme included

Description of the type of programme included in the fee programme, such as whether it relates to and/or includes a frequency of use programme, loyalty programme, multi-issuance programmes, purchase of a package of credit ratings or other types of programmes.

Indication whether the fee programme applies to one or more of:

  • "All",
  • "F" frequency of use,
  • "L" loyalty programme,
  • "M" multi-issuance programmes,
  • "B" for package purchase of a preset number of credit ratings,
  • "OTH" other types of fee programme.

14

Previous fee programme

The identification of the prior fee programme which the current fee programme replaces.

Mandatory

Applicable if the current fee programme changes the scope of application of a previous fee programme.

Fee programme identifier in format "FP_[internal fee programme identifier]"

15

Fee schedule(s)

Unique identification number of any fee schedule(s) applicable or linked to the fee programme. This fee schedule identifier must correspond to the identifier(s) set out under Table 2 of Annex I.

Mandatory

if applicable

Fee schedule identifier in format "FS_[internal fee schedule identifier]"

16

Fee programme file name

Fee programme policy file name. Shall be reported in a zip format

Mandatory

Table 4 Reporting of pricing procedures in force and subsequent material updates

No.

Field name

Description

Type

Standard

1

CRA identifier

Code used to identify the reporting credit rating agency. It is provided by the FCA upon registration.

Mandatory.

2

CRA scope

Identification of the CRAs applying the pricing procedure.

Mandatory.

ISO 17442

3

Procedure identifier

Unique identifier of the pricing procedure that shall be maintained over time.

Mandatory.

4

Pricing policy identifier

Identification of the pricing policy or policies which the pricing procedure is meant to implement. This pricing policy identifier must correspond to the identifier(s) set out under Table 2 of Annex I.

Mandatory.

Pricing policy identifier in format "PP_[internal pricing policy identifier]"

5

Fee schedule identifier

Identification of the schedule(s) which the pricing procedure is meant to implement. This fee schedule identifier must correspond to the identifier(s) set out under Table 2 of Annex I.

Mandatory.

If applicable.

Fee schedule identifier in format "FS_[internal fee schedule identifier]"

6

Fee programme identifier

Identification of the fee programme(s) which the pricing procedure is meant to implement. This fee programme identifier must correspond to the identifier(s) set out under Table 3 of Annex I.

Mandatory.

If applicable.

Fee programme identifier in format "FP_[internal fee programme identifier]"

7

Pricing procedure validity date

The date from which the pricing procedure is valid.

Mandatory.

ISO 8601 date format (YYYY-MM-DD)

8

Pricing procedure end date

End date of validity of the pricing procedure

Mandatory.

ISO 8601 date format (YYYY-MM-DD) or 9999-01-01

9

Pricing procedure file name

Pricing procedure file name. Shall be reported in a zip format

Mandatory.