Tag: Michel Barnier

• Friday, June 7th 2013 - 07:52 UTC

  Following the scandal, Libor to come under supervision of EU Paris-based regulator

  

  European authorities are to propose bringing control of the inter-bank lending rate, Libor, under the supervision of a Paris-based regulator. The draft regulation proposes moving oversight of the scandal-hit benchmark from London to the European Securities and Markets Authority (ESMA).

• Tuesday, September 4th 2012 - 01:25 UTC

  Germany stands firm: ECB is not prepared to supervise all Euro zone banks

  

  German Finance Minister Wolfgang Schaeuble rejected on Monday a European Commission plan to give the European Central Bank sweeping powers to monitor all Euro zone banks, saying it should instead focus only on systemically important institutions.

• Wednesday, November 16th 2011 - 05:01 UTC

  EC sets forward strict rules for credit rating agencies

  

  The European Commission has put forward stricter rules for the credit rating agencies that rank countries' and companies' debt. The rules says agencies, including Standard & Poor's, Moody's and Fitch, should follow stricter standards, be more transparent about their ratings and be held accountable for their mistakes.

• Wednesday, May 5th 2010 - 06:28 UTC

  EU Anticipates Further Regulation for Credit Rating Agencies

  

  A European Commissioner has warned it may be necessary to further regulate the role of credit rating agencies. Michel Barnier, in charge of revamping financial services, told the European Parliament he had been surprised by the rapid deterioration of Greece's rating.