CEPII, Recherche et Expertise sur l'economie mondiale
Mardi 10 avril 2012

Credit Rating Agency Regulation: Implications for Issuers and Investors

Workshop co-oganized by le Club du CEPII, ICFR and Milken Institute
Contact et inscription membres du Club : club@cepii.fr

In light of the European Commission’s Proposal of 15 November 2011 to amend the existing EU Regulation on Credit Rating Agencies, this roundtable has been set up to consider the implications of this proposed regulation on debt capital markets in Europe. In particular, the roundtable will focus on the costs and benefits to issuers and investors, both European and non-European, and the potential impact on cross-border capital flows. The timing of the event is intended to be able to inform policymakers in advance of the adoption of final legislation. The objective is to identify points of agreement between issuers, investors and other users of ratings on the subject, as well as constructive suggestions for workable solutions to the issues raised.
The roundtable is intended to be participative and interactive. In each session speakers will introduce the topic and open it up for discussion.
  • competition among credit rating agencies,
  • use of credit ratings,
  • reliance on credit ratings,
  • civil liability regime,
  • market liquidity and cost of capital,
  • regulation