ESMA Allows Banks To Use Non-European Ratings

The European Securities and Market Authority has determined that regulatory frameworks for credit rating agencies of the U.S., Canada, Hong Kong and Singapore were “as stringent as” and in line with European rules, thus allowing European banks and other financial institutions to use such ratings from these agencies in calculating risk weights and other regulatory purposes.

  • 15 Mar 2012
The European Securities and Market Authority has determined that regulatory frameworks for credit rating agencies of the U.S., Canada, Hong Kong and Singapore were “as stringent as” and in line with European rules, thus allowing European banks and other financial institutions to use such ratings from these agencies ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,665 23 12.97
2 Citi 5,781 17 11.25
3 BNP Paribas 3,715 15 7.23
4 Barclays 2,853 9 5.55
5 Credit Suisse 2,783 8 5.42

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Rank Lead Manager Amount $m No of issues Share %
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1 Citi 99,250.27 279 13.04%
2 Bank of America Merrill Lynch 92,153.61 267 12.10%
3 Wells Fargo Securities 72,661.39 222 9.54%
4 JPMorgan 52,367.24 169 6.88%
5 Credit Suisse 41,885.89 127 5.50%