ECB rejects public credit rating agency role

ecb-frankfurt

The European Central Bank (ECB) on Wednesday dismissed calls from European lawmakers for it and other national central banks to issue credit ratings as an alternative to private credit rating agencies.

In response to a European Commission (EC) public consultation on credit rating agencies that was published on November 5, the ECB said that while the Eurosystem supported efforts to reduce the reliance of financial markets on credit rating agencies' ratings, it "should not issue public ratings to

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