IBANK 10.2.24 Ratings must be applied consistently

(1) A credit rating assigned by an ECRA must be applied consistently across a given type of securitisation exposure.
(2) An Islamic banking business firm must not use an ECRA's (the first ECRA's) credit rating for 1 or more tranches and another ECRA's rating for other tranches within the same securitisation structure (whether or not those other tranches are rated by the first ECRA).

Note Under rule 4.3.8:
(a) if there are 2 different assessments by ECRAs, the higher risk-weight must be applied; and
(b) if there are 3 or more different assessments by ECRAs, the assessments corresponding to the 2 lowest risk-weights should be referred to and the higher of those 2 risk-weights must be applied.
Inserted by QFCRA RM/2017-1 (as from 1st April 2017).