European Commission: Rules on credit rating agencies (CRAs) in the US, Canada and Australia equivalent to EU rules

08 October 2012

The Commission has adopted three implementing decisions which confirm that the rules in place on credit rating agencies in the US, Canada and Australia are equivalent to the EU rules on credit rating agencies.

The adoption of these implementing decisions follows the positive technical assessment of the respective regulatory environments in these jurisdictions by the European Securities and Markets Authority (ESMA), the EU supervisor on credit rating agencies. The equivalence decisions allow smaller CRAs in the US, Canada and Australia to apply for certification in the EU with the result that their ratings can be used by EU financial institutions for regulatory purposes.

More information on the equivalence decisions and the regulatory framework on credit rating agencies can be found by clicking on the following links:

• US
• Canada
• Australia

Press release (mid-day express)

© European Commission