Jean Paul Gauzès (EPP, FR) welcomed the fact that credit rating agencies are finally going to be supervised. Rapporteur on the future CRA Directive, Leonardo Domenici (S&D, IT), noted that the measures originally proposed had been weakened, and said that Parliament would seek to restore their bite.
Commissioner Barnier stressed that rating agencies are needed to measure risks, but accepted that their evaluations should be exact, transparent and credible, and that they should be able to explain their ratings. Clear rules will reduce the risk of them causing serious problems, he added.
Recapitalising banks
Banks must recapitalise without harming the real economy and resume lending to businesses, said Commissioner Barnier, adding that financial markets must accept the new rules, but will also benefit from having a stable framework to work in.
Press release
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