González-Páramo calls for greater transparency of rating agencies

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José Manuel González-Páramo, a member of the European Central Bank executive board, on Friday said plans to enhance oversight of credit rating agencies and reduce the mechanistic reliance on external ratings would improve transparency and disclosure of the rating process.

At the 27th Reunión Círculo de Economía in Sitges, Spain, González-Páramo said: "Ratings are crucial to investors' decisions and are deeply embedded in the regulatory architecture. It is therefore essential that ratings are

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