BoE Economists Call For Credit-Rater Reform

Bank of England economists haves called for reforming credit rating agencies to make them more transparent and less of a force in the markets, reports Reuters.

Bank of England economists haves called for reforming credit rating agencies to make them more transparent and less of a force in the markets. The paper, which is said not to necessarily reflect the central bank’s official view, states that abolishing the agencies altogether is not an option since other firms would emerge to fill the void with their own problems. The authors also pointed to the structured finance market as in need of reform to deal with conflicts of interest.

Click here to read the story from Reuters.