Memo: Statement by Commissioner Michel Barnier following the agreement in trilogue of new European rules to regulate credit rating agencies

The European Union agreed on stricter rules for credit rating agencies on the 27 November 2012 which will ultimately try to reduce the over-reliance on external credit ratings agencies, requiring financial institutions to strengthen their own credit risk assessment.

• Primary Source

EurActiv, 28.11.12: EU pushes stricter rules for sovereign debt ratings http://www.euractiv.com/euro-finance/eu-pushes-stricter-rules-soverei-news-516301

ESO: Background information: Parliament to dismiss plans for European credit ratings http://www.europeansources.info/record/parliament-to-dismiss-plans-for-european-credit-ratings/

Les Echos, 28.11.12: EU imposes new restrictions (via PressEurop) http://www.presseurop.eu/en/content/news-brief/3087881-eu-imposes-new-restrictions

European Commission: DG Internal Market and Services: Securities: Rating Agencies http://ec.europa.eu/internal_market/securities/agencies/index_en.htm

European Parliament: Press Release, 28.11.12: Deal on stricter EU rules for sovereign debt ratings http://www.europarl.europa.eu/news/en/pressroom/content/20121127IPR56742/

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