Press Release: Council adopts new rules on credit rating agencies

The Council on 13 May 2013 adopted a directive and a regulation amending the EU's rules on credit rating agencies (CRAs).

The directive and regulation amend existing legislation on CRAs in order to reduce investors' over-reliance on external credit ratings, mitigate the risk of conflicts of interest in credit rating activities and increase transparency and competition in the sector.

• Primary Source

ESO: Background information: Statement by Commissioner Michel Barnier following the agreement in trilogue of new European rules to regulate credit rating agencies http://www.europeansources.info/record/memo-statement-by-commissioner-michel-barnier-following-the-agreement-in-trilogue-of-new-european-rules-to-regulate-credit-rating-agencies/

ESO: Background information: Statement by Commissioner Michel Barnier following the vote in the European Parliament on new European rules to regulate credit rating agencies http://www.europeansources.info/record/memo-statement-by-commissioner-michel-barnier-following-the-vote-in-the-european-parliament-on-new-european-rules-to-regulate-credit-rating-agencies/

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