By-laws of the Deposit Protection Fund

2. Rules for the credit rating procedure
(4) Credit rating shall be carried out on the basis of an assessment of key
quantitative and qualitative aspects of the financial profile and business profile
using a system of ratios and criteria. In this respect, the description of the credit
rating procedure shall apply which is produced by the Auditing Association or
a third party commissioned in accordance with subsection (1) of this annex
and notified to the Deposit Protection Committee. The credit rating procedure
shall be overseen by legally required supervisory bodies and by the European
Securities and Markets Authority (ESMA).
(5) A bank for which another bank participating in the Fund has furnished a
Declaration of Undertaking pursuant to Section 5 (10) of the By-Laws of the
Deposit Protection Fund shall be assigned on request the credit rating of the
shareholding bank if the latter bank’s credit rating is better than its own. The
foregoing arrangement shall also apply if the Declaration of Undertaking has
been furnished by a domestic bank which does not participate in the Fund or
a bank domiciled in another EEA or EFTA state provided that the shareholding
bank has submitted to credit rating in accordance with these rules. The
conditions prevailing at the time when the annual contribution is set shall apply.
(6) The credit rating procedure shall result in the bank being assigned to one of
the 22 categories from AAA to D. 1
The frequency of the deposit protection audits shall depend partly on the rating
of the individual bank.
1) Rating categories: AAA, AA+, AA, AA-, A+, A, A-;
BBB+, BBB, BBB-, BB+, BB, BB-, B+, B, B-;
CCC+, CCC, CCC-, CC, C;
D
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By-laws Annex to Section 4a