36.The Central Bank may consider additional ECAIs as eligible for use within capital adequacy standards. These additional ECAIs may be identified for consideration by the Central Bank, or may be identified by banks or by the ECAIs themselves. The Central Bank will evaluate potential additional ECAIs against the eligibility requirements in this Guidance, under procedures established by the Central Bank.

37.Banks that identify potential additional ECAIs for consideration by the Central Bank must provide information about the ECAI that would allow an appropriate evaluation by the Central Bank according to this Guidance. The banks should identify the types of claims to which the ECAIs ratings might be applied, as well as the geographies covered, and explain the need for, or value of, recognizing the ECAI as eligible. Banks should provide a preliminary evaluation, subject to Central Bank review, of how the ECAI meets all of the eligibility criteria described above in this Guidance.

38.ECAIs may also request recognition from the Central Bank. In such cases, the ECAI must provide detailed information that would allow a complete evaluation by the Central Bank under this Guidance. The ECAI should provide evidence, subject to Central Bank review, that the ECAI meets all of the eligibility criteria described above in this Guidance, including full compliance with the IOSCO CRA Code.