Bini Smaghi defends ECB policy to dump rating agencies


Lorenzo Bini Smaghi, a member of the executive board at the European Central Bank (ECB), on Thursday criticised rating agencies and said the ECB's decision to accept all types of loans as collateral from Greece was warranted.

"The agencies have recently lost their credibility, contributing, with significant conflicts of interest, to the overvaluation of the creditworthiness of asset-back securities, particularly the subprime mortgages that caused the financial crisis," he said.

Bini Smaghi

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: