ESMA has confirmed that the regulatory frameworks of the US, Canada, Hong Kong and Singapore relating to Credit Rating Agencies (CRAs) are equivalent to EU standards. Accordingly, European financial institutions can use credit ratings from these countries after the transitional period for using third country ratings under the CRA Regulation expires on 30 April. (Source: ESMA Announces Third Country CRA Endorsements)
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ESMA announces third country CRA endorsements
- Rosali Pretorius and Lauren Donnelly
- Canada, European Union, Hong Kong, Singapore, USA
- March 23 2012
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