BRUSSELS BACKS REDUCING INFLUENCE OF MAJOR CREDIT RATING AGENCIES
May 8th, 2014THE EUROPEAN Commission has released a working paper on reducing the reliance of regulators on credit ratings agencies when making policy and legislative decisions – see http://ec.europa.eu/internal_market/rating-agencies/docs/140512-fsb-eu-response_en.pdf
Meanwhile, the Commission has also investigated the idea of creating a network of smaller credit rating agencies (CRAs) in the EU, strengthening their growth and reducing their influence of major agencies. http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:52014DC0248
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