the credit quality assessment of the counterparty to the reverse repurchase agreement;

the margin period of risk, as defined in Article 272(9) of Regulation (EU) No 575/2013;

the credit quality assessment of the issuer or of the asset that is used as collateral;

the remaining maturity of the assets used as collateral;

the volatility of the price of the assets used as collateral.

a credit institution supervised under Directive 2013/36/EU of the European Parliament and of the Council ( 1 ), or a credit institution authorised in a third country in respect of which an equivalence decision has been adopted in accordance with Article 114(7) of Regulation (EU) No 575/2013;

an investment firm supervised under Directive 2014/65/EU of the European Parliament and of the Council ( 2 ), or an investment firm authorised in a third country in respect of which an equivalence decision has been adopted in accordance with Article 47 of Regulation (EU) No 600/2014;

an insurance undertaking supervised under Directive 2009/138/EC of the European Parliament and of the Council ( 3 ), or an insurance undertaking authorised in a third country in respect of which an equivalence decision has been adopted in accordance with Article 260 of that Directive;

a central counterparty authorised under Regulation (EU) No 648/2012 of the European Parliament and of the Council ( 4 );

the European Central Bank;

a national central bank;

a third country central bank, provided that the prudential supervisory and regulatory requirements applied in that country have been recognised as equivalent to those applied in the Union in accordance with Article 114(7) of Regulation (EU) No 575/2013.

the internal credit quality assessment methodologies are applied in a systematic way with respect to different issuers and instruments;

the internal credit quality assessment methodologies are supported by a sufficient number of relevant qualitative and quantitative criteria;

the internal credit quality assessment methodologies' qualitative and quantitative inputs are reliable, using data samples of an appropriate size;

past internal credit quality assessments produced using the internal credit quality assessment methodologies have been properly reviewed by the managers of the MMFs in question to determine whether the credit quality assessment methodologies are a suitable indicator of credit quality;

the internal credit quality assessment methodologies contain controls and processes for their development and related approvals that allow for suitable challenge;

the internal credit quality assessment methodologies incorporate factors that managers of MMFs deem relevant to determine the credit quality of an issuer or an instrument;

the internal credit quality assessment methodologies systematically apply key credit quality assumptions and supporting criteria to produce all credit quality assessments, unless there is an objective reason for diverging from this requirement;

the internal credit quality assessment methodologies contain procedures to ensure that the criteria referred to in points (b), (c) and (g) supporting the relevant factors in the internal credit quality assessment methodologies are of a reliable quality and relevant to the issuer or instrument being assessed.

continue to be used, unless there are objective reasons to conclude that the internal credit quality assessment methodologies have to be changed or to be discontinued;

be capable of promptly incorporating any finding from ongoing monitoring or a review, in particular where changes in structural macroeconomic or financial market conditions would potentially affect a credit assessment produced using those internal credit quality assessment methodologies;

make it possible to compare past internal credit quality assessments.

bond pricing information, including credit spreads and the pricing of comparable fixed income instruments and related securities;

pricing of money market instruments relating to the issuer, the instrument or the industry sector;

credit default-swap pricing information, including credit default-swap spreads for comparable instruments;

default statistics relating to the issuer, the instrument or the industry sector;

financial indices relating to the geographic location, the industry sector or the asset class of the issuer or instrument;

financial information relating to the issuer, including profitability ratios, interest coverage ratio, leverage metrics and the pricing of new issues, including the existence of more junior securities.

an analysis of any underlying assets, which for exposure to securitisation shall include the credit risk of the issuer and the credit risk of the underlying assets;

an analysis of any structural aspects of the relevant instruments issued by an issuer, which for structured finance instruments shall include an analysis of the inherent operational and counterparty risk of the structured finance instrument;

an analysis of the relevant market(s), including the degree of volume and liquidity of those markets;

a sovereign analysis, including the extent of explicit and contingent liabilities and the size of foreign exchange reserves compared to foreign exchange liabilities;

an analysis of governance risk relating to the issuer, including frauds, conduct fines, litigation, financial restatements, exceptional items, management turnover, borrower concentration and audit quality;

securities-related research on the issuer or market sector;

where relevant, an analysis of the credit ratings or rating outlook given to the issuer of an instrument by a credit rating agency registered with the ESMA and selected by the manager of an MMF if suited to the specific investment portfolio of the MMF.

there is a material change with respect to any of the following:

a money market instrument, securitisation or ABCP is downgraded below the two highest short-term credit ratings provided by any credit rating agency regulated and certified in accordance with Regulation (EC) No 1060/2009 of the European Parliament and of the Council ( 5 ).