Thursday, October 22, 2009

CESR Consults On Details For Proposed Registration And Supervision Of CRAs

Posted on Mondovisione:

CESR published today a feedback statement on its consultation for a central repository for credit rating agencies (CRAs) and issued a consultation paper detailing the proposed registration and supervision process for CRA in Europe.

The feedback statement provides a summary of the main suggestions received by CESR regarding the setting of common standards for presentation of historical and performance information and the potential output design of the repository along with an explanation of CESR’s decision on some of the most significant issues raised.

The purpose of the consultation document is to seek comments on the conclusions CESR has drawn for setting guidelines for the registration process, the functioning of colleges, the mediation protocol, the common standards on presentation of information for registration and endorsement (Annex II) and the information for the application of certification and for the assessment for CRAs systemic importance.

The consultation is open for comments until Friday, 30 November 2009.

Both the consultation paper and the feedback statement are available on CESR's website.

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