10 Amendments of Liem HOANG NGOC related to 2010/2302(INI)
Amendment 25 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas the mode of financing of private CRAs does not make it possible to guarantee their independence from the market and inherently entails a risk of conflicts of interest which may dangerously distort the proper functioning of markets,
Amendment 43 #
Motion for a resolution
Recital I a (new)
Recital I a (new)
Ia. having regard to the model for assessing sovereign debt used by the CRAs,
Amendment 57 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Expresses the view that market participants should not be authorised to invest in structured products if they cannot assess the underlying credit risk themselves, or alternatively that they should apply the highest risk weighting;
Amendment 86 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls for a the establishment of a fully independent public European Credit Rating Foundation (ECRaF)Agency which would expand its expertise into all three sectors of ratings, with particular reference to sovereign debt;
Amendment 93 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Believes that the start-up financing costs to cover the first three years of the ECRaFAgency’s work need to be carefully calculated; that these initial costs should take the form of a lump-sum capital payment and should be provided by the financial services industry with the involvement of both users and issuera 0.01% levy on the bank taxes established in the Member States; asks the Commission to produce a detailed impact assessment and cost estimate for the necessary financing in this respect; considers that the new ECRaF should be fully self-sufficient after the three-year start-up period;
Amendment 96 #
Motion for a resolution
Paragraph 11
Paragraph 11
Amendment 108 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Asks the Commission to conduct a detailed impact assessment and feasibility study on the establishment of an independent ECRaFuropean public CRA and to come forward with legislative proposals;
Amendment 130 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Is of the opinion that the Commission should consider the use of two obligatorymake it obligatory to use two ratings for structured finance instruments if an external credit rating is used for regulatory purposes and to regard the less favourable rating as the reference in the event of a significant divergence between the two ratings;
Amendment 170 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Supports the existence of various payment models in the industry as long as inherent conflicts of interest are addressed by regulatory means; asks the credit rating industryESMA to come forward with proposals for alternative viable payment models that involve both issuers and users;
Amendment 191 #
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Considers that the assessment of the ‘country risk’ of sovereign debt is just as much political as economic and that the team of analysts responsible for assessing this risk should therefore reflect a wide range of opinion; takes the view that the composition of these teams should be very transparent and public;