By way of derogation from Article 4(4), point (d), where only one credit assessment is available from a nominated ECAI for a securitisation position other than an STS securitisation, that credit assessment shall not be used. The capital requirements for that item shall be derived as if no credit assessment by a nominated ECAI is available.
Article 6 - Double credit rating for securitisation positions other than STS securitisations
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Article 6
Double credit rating for securitisation positions other than STS securitisations