Rating System Documentation

From Open Risk Manual


Rating System Documentation denotes the entirety of human oriented documentation within IT systems and artefacts, documents that defines the all material aspects of a Credit Rating System.

Documentation requirements are rigorously defined for regulated entities, as they must typically allow an independent knowledgeable third party to obtain a detailed outline of the different IT elements of the rating systems

ECB TRIM Requirements

In the context of Targeted Review of Internal Models the following requirements apply[1]

  • The relevant sources of data and the global map of IT systems and databases involved in the calculation systems used for the purposes of the IRB approach
  • The relevant functional specification of IT systems and databases, including their size, date of construction and data dictionaries, specifying the content of the fields and of the different values inserted in them, with clear definitions of data items;
  • The relevant technical specification of IT systems and databases, including the type of database, tables, database management system, database architecture, and data models given in any standard data modelling notation;
  • The audit trail procedures for critical IT systems and databases.


  1. ECB guide to internal models − Credit Risk, Sep 2018

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