Banque de France backs efforts to circumvent ratings agencies
The Banque de France has backed plans to improve the service offered by credit ratings agencies and give investors more opportunities to avoid using their services altogether.
The new rules, proposed by the European Securities and Markets Authority (Esma), cover three main areas: greater provision of information on structured finance instruments (SFIs) to reduce the need for ratings; the creation of a ‘European Ratings Platform' for easy comparisons; and controls on the fees agencies charge to
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