Article 39b(2) of the CRA Regulation states that the European Commission shall adopt a report by end 2014 – after receiving ESMA’s technical advice – on the appropriateness of the development of a European creditworthiness assessment for sovereign debt.In its request for advice, the...

For the purposes of this advice, ESMA provides its views based on the quantitative information contained in the CEREP public database and on information publicly disclosed by credit rating agencies registered with ESMA.Additionally, ESMA’s advice has been informed by its first supervisory...

The European Securities and Markets Authorities (ESMA) has published this report to inform of the outcome and findings of its general investigation in the way credit rating agencies (CRAs) conduct surveillance of structured finance credit ratings, as indicated in ESMA’s Credit Rating Agencies...

One of the objectives of the CRA Regulation is to increase competition in the markets for credit ratings by encouraging issuers to use smaller credit rating agencies. To this end, Article 8d(1) of the CRA Regulation states that where issuers or related third parties intend to appoint at least...

The financial arrangements for the accession of 10 new member states made at the Copenhagen European Council in December 2002 and confirmed in the Accession Treaty signed in Athens in April 2003 will pose significant financial problems for these countries in the short-term. These result from the...

The purpose of the assistance is to support the participation of Albania in the Stabilisation and Association Process (SAP).The main specific objectives of this assistance are: contributing to enhance Albania’s capacity in terms of security and public order, strengthening rule of law, good...

This independent report – with the wealth and breadth of knowledge it puts forward and the quality of the analysis it presents – gives us a research-based perspective on the post-2015 challenges we face.