CRA 3

A credit rating agency (CRA) provides opinions on the creditworthiness of entities such as companies or governments and of debt instruments such as bonds. The biggest three CRAs are Standard & Poor's, Moody’s and Fitch, which together cover approximately 95% of the world market. The second revision of the CRA Regulation (CRA3) reviews the EU’s regulatory framework for CRAs.

Calendar 

  • 16 January 2013 – Parliament plenary endorses November 2012 inter-institutional agreement
  • September-November 2012 – Negotiations between the European institutions
  • 24 August 2012 – European Parliament ECON Committee adopts negotiation position
  • 22 July 2012 – Finance Ministers agree negotiation position
  • 15 February 2012 –ECON Committee draft report presented by Leonardo Domenici (S&D, Italy)
  • 24 January 2012 – Public hearing in ECON Committee (Finance Watch gives evidence)
  • 15 November 2011 – Commission presents CRA3 review proposal

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