Press Release

DBRS Publishes Updated European Operational Risk Methodology

Auto, RMBS, Covered Bonds
January 12, 2015

DBRS Ratings Limited (DBRS) has today published an updated methodology entitled Operational Risk Assessment for European Structured Finance Servicers. The updated methodology, effective as of the date of this press release, supersedes the previous methodology, Operational Risk Assessment for European Structured Finance Servicers, dated November 2013.

In this update, DBRS added an additional exhibit with a sample operational risk agenda for non- performing loan servicers. The operational risk assessment methodology is being published as a result of DBRS’s update of its Internal Assessments Global Policy.

No other significant changes were made to the existing methodology. DBRS does not deem the methodology update to be material and does not expect any rating actions as a result of this update.

The full methodology providing additional analytical detail is available by clicking on the links under Related Research to the right of the screen or by contacting us at info@dbrs.com. The Internal Assessments Global Policy is also publicly available on www.dbrs.com under Rating Policies.