differentiate between the relative degrees of risk expressed by each assessment;

consider quantitative factors, such as default or loss rates and the historical performance of credit assessments of each ECAI across different asset classes;

consider qualitative factors such as the range of transactions assessed by the ECAI, its methodology and the meaning of its credit assessments in particular whether such assessments take into account expected loss or first Euro loss, and timely payment of interests or ultimate payment of interests;

seek to ensure that securitisation positions to which the same risk weight is applied on the basis of the credit assessments of ECAIs are subject to equivalent degrees of credit risk.