Brussels, 29/04/2011 (Agence Europe) - The European financial industry has warned EU and national regulators about the procedure for using ratings by non-EU credit rating agencies when calculating capital requirements, warning that a restricted interpretation of the EU rules by the European Securities Markets Authority (ESMA) could cost European financial institutions dear. ESMA will soon be publishing guidelines in this connection, possibly in the next fortnight.
EU Regulation 1060/2009/EC...