A political row has been simmering in Brussels for several weeks over the conditions under which ratings from outside the EU should be allowed to count for regulatory capital purposes.
The European Banking Federation said it was “greatly concerned” about the way EU regulators were interpreting new rules covering the use of ratings issued in “third countries” – those outside the EU – and warned there could be a “significant strain” on regulatory capital next year if this was not modified.
At a political level, its stance has been backed by countries such as Sweden, Holland and the UK.
© Financial Times
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