Press Release: Stricter rules for credit rating agencies to enter into force

As of 20 June 2013, credit rating agencies (CRAs) have to follow stricter rules which will make them more accountable for their actions. The new rules also aim to reduce over-reliance on credit ratings while at the same time improving the quality of the rating process. Credit rating agencies will have to be more transparent when rating sovereign states.

• Primary Source

European Commission: Rapid: MEMO/13/571: New rules on credit rating agencies (CRAs) enter into force – frequently asked questions http://europa.eu/rapid/press-release_MEMO-13-571_en.htm

ESO: Background information: Council adopts new rules on credit rating agencies http://www.europeansources.info/record/press-release-council-adopts-new-rules-on-credit-rating-agencies/

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