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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