over cross-borderly active financial institutes. Cons: (1) A centralisation of the supervision of rating agencies and clearing houses is not necessary. The colleges of supervisors of national supervisory [...] exclusive responsibility for the supervision of “certain entities with pan-European reach“ such as rating agencies or clearing houses, including the licensing and the supervision of these institutions; [...] decisions for the coordination of national authorities. ► To date there is no central supervision on rating agencies and clearing houses at EU-level, which the Commission intends to assign to the new EU
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EUR 440 billion in order to preserve the AAA rating of EFSF's bonds (see below). Credit Rating The EFSF 2.0 has received a AAA rating by credit rating agencies. To increase the effective EFSF lending [...] to EUR 255 billion in order to preserve the AAA rating of EFSF's bonds (see below). Credit Rating The EFSF 1.0 has been AAA rated by credit rating agencies. However, under the initial agreement (EFSF [...] acceptance and success of Stability Bonds would greatly benefit from the highest rating possible. An inferior rating could have a negative impact on its pricing (higher yield than otherwise) and on
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for the authorisation and supervision of certain entities with pan-European reach, e.g., credit rating agencies and EU central counterparty clearing houses. These responsibilities could include such [...] These responsibilities would be defined in sectoral legislation (e.g., the Regulation on Credit Rating Agencies). Apart from reinforcing the effectiveness of supervision, this could enhance efficiency
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auf die Garantien solcher Länder verlassen, die nicht über ein AAA-Rating verfügen. De facto würde die EFSF damit auf ihr AAA-Rating verzichten. Das ist denkbar, würde die Hilfskredite aber wesentlich
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(2006) 155 The aim is to launch an IP exchange in Paris for European patents, linked to a patent ratings system developed by Ocean Tomo. EN 66 EN 5. MAXIMISING SOCIAL AND TERRITORIAL COHESION
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stations on the pipelines, would fall under the ETS unless the installations concerned had a power rating exceeding 20MW (i.e., fell under the combustion plants threshold of Annex I of the ETD). Even in
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zurück, die sie in Fragen der Abstimmung, der Stimmrechtsvertretung und von Corporate Governance-Ratings beraten. Folglich üben diese Berater einen erheblichen Einfluss auf die Abstimmung aus. Auch wurde
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portfolios delegate their voting rights to asset managers and make use of their corporate governance rating services. These services are provided by external proxy advisors. - However, the Commission warns
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of the services of proxy advisors, such as voting advice, proxy voting and corporate governance ratings. In consequence, proxy advisors’ influence on voting is substantial. Moreover, it has been argued
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yield curve flattened. The role of Credit Rating Agencies 19) Credit Rating Agencies (CRAs) lowered the perception of credit risk by giving AAA ratings to the senior tranches of structured financial [...] Credit Rating Agencies 66) Given the pivotal and quasi-regulatory role that they play in today's financial markets, Credit Rating Agencies must be regulated effectively to ensure that their ratings are [...] scope for separating rating and advisory activities should be undertaken; - the use of ratings in financial regulations should be significantly reduced over time; - the rating for structured products
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