NEW YORK - The European Commission will deem that Canada, Brazil, Singapore, Argentina and Australia don't regulate credit ratings agencies with the same rigour as the EU, the Financial Times reported on Sunday , citing a document.
The decision would withdraw some market access rights of the country, removing a status that makes it possible for European banks to rely on the ratings. This will be the first time that the access rights have been withdrawn, though temporary permissions for Switzerland were allowed to lapse earlier.
Source: News Formal (newsformal.com)
All a sudden , many arrow shoot at our back
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