The Financial Statibility Board issued on October 27th, its proposed Principles on Reducing Reliance on Ratings. These include the reduction in reliance on ratings in laws and regulation as well as in the current market practice.
The “Friedrich Naumann Stiftung für die Freiheit” organized a workshop near Cologne on “Europäische Ratingagentur: was hat der Mittelstand davon?”(freely translated: “European Rating Agency: what are the benefits to the German Mittelstand?”). The workshop gathered nearly all German players in the rating market (11 companies have requested registration as Credit Rating Agencies in Germany), politicians, […]
The OECD Financial Roundtable (which gathers representatives of Central Banks and Ministries of Finance), held on October 7th in Paris, discussed with market participants “Sovereign Debt Challlgenges for Banking Systems and Bond Markets”. This high-level discussion was organized around three sections: The first related to “Current outlook and risks, capital flows and global rebalancing”, the second […]
On Friday October 1st, 2010, the informal Council on Economic and Financial Affairs (ECOFIN) discussed Credit Rating Agencies. Next to S&P, Moody’s and FitchRatings, EACRA was invited. Each had a 5 minutes slot to present their views on the on-going legislative measures in the field of CRAs.