XBRL Taxonomy Update for Disclosure of Credit Rating Histories
April 29, 2015
April 29, 2015
The final version of the XBRL taxonomy applicable to disclosures by nationally recognized statistical rating organizations (NRSROs) of credit rating histories in accordance with paragraph (b) of Rule 17g-7 of the Securities Exchange Act of 1934 (Exchange Act) has been posted as the “Record of Credit Ratings Taxonomy, 2015” on the following webpage: http://www.sec.gov/info/edgar/edgartaxonomies.shtml#RATINGS2015. This link also includes (under “Preparer’s Guide”) guidance for preparing XBRL files in accordance with the requirements of paragraph (b) of Rule 17g-7 and the Record of Credit Ratings Taxonomy, 2015.
Paragraph (b) of Rule 17g-7 was adopted by the Commission on August 27, 2014 and becomes effective on June 15, 2015 (Effective Date). From and after the Effective Date, the current disclosure requirements for credit rating histories under paragraph (d) of Rule 17g-2 of the Exchange Act will be superseded and credit rating histories should be disclosed in accordance with paragraph (b) of Rule 17g-7 using the Record of Credit Ratings Taxonomy, 2015 (see link above).
Prior to the Effective Date, NRSROs should continue to disclose credit rating histories in accordance with paragraph (d)(3) of Rule 17g-2 using the “Record of Credit Ratings Taxonomy, 2009,” which can be found at http://www.sec.gov/info/edgar/edgartaxonomies.shtml#RATINGS2009.
For any technical questions related to the XBRL taxonomy, please refer to the “Contact Us” column at http://xbrl.sec.gov. Please direct any other questions related to the content of this announcement to Harriet Orol, Branch Chief, Branch of Monitoring and Policy, Office of Credit Ratings, at firstname.lastname@example.org.