Despite the fact that the Eurosystem uses ECAI ratings as one of its credit assessments it still reserves the right to determine whether an asset fulfils the requirement for high credit standards on the basis of any information it may consider relevant from a risk management perspective.
What is level of co-operation amongst the PPIs issuers? Have there been any efforts to collaborate at least on boarding of merchants? Is there any effort to standardize the merchant code and enable all the PPI issuers once approved under the PSS Act, to have access to all the merchants?