Credit Rating Agencies Regulation

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Chapter 27 in EU Banking and Financial Regulation, 2024, pp 292-300 from Edward Elgar Publishing

Abstract: The adoption at the European level of Regulation no 1060/2009 on credit rating agencies (CRAR) aims to ensure convergence of the rules applying to credit rating agencies and thereby to promote the stability and efficient functioning of the internal market, an equal level of investor and consumer protection and the ability to compare credit ratings issued in Europe and internationally. This regulation is designed to ensure that credit rating activities are conducted in accordance with the principles of integrity, transparency, responsibility, good governance and independence in order to ensure that resulting credit ratings used in the Union are independent, objective and of adequate and equal quality. This should in particular enable credit rating agencies to reflect in a timely manner in their credit ratings any worsening market conditions.

Keywords: Law - Academic; Law - Professional (search for similar items in EconPapers)
Date: 2024
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