Brussels outlines ratings agencies plan

The European Commission published 31 July 2008 two consultation documents on CRAs seeking views from all interested parties by 5th September 2008. The first document relates to the conditions for the authorisation, operation and supervision of credit rating agencies. The second proposes policy options in order to tackle what is felt to be an excessive reliance on ratings in EU legislation.

European Commission: Press Release: IP/08/1224: Consultation by the Commission services on Credit Rating Agencies (CRAs) http://europa.eu/rapid/pressReleasesAction.do?reference=IP/08/1224&format=HTML&aged=0&language=EN&guiLanguage=en

BBC News, 31.7.08: Tougher rules for rating agencies http://news.bbc.co.uk/1/hi/business/7535911.stm

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