Exact(3)
What makes matters worse is that the use of ratings as absolute measures, by investors and by regulators, is increasing not decreasing.For 30 years, the Securities and Exchange Commission SECC) has used ratings by "nationally recognised" agencies to assess the value of securities held by securities firms, and the amount of capital they must hold.
Fund managers worry that the agencies will lose their objectivity, and thus their willingness to shout if they spot a problem, if they are also advisers to the companies they rate.If nothing else, fund managers would like to see more nationally recognised agencies and more competition between them.
Basel 2.5 uses credit ratings from recognised agencies such as Moody's and Standard & Poor's to calibrate capital charges.
Similar(57)
In ITU jargon, the current treaty relates only to "recognised operating agencies"—in other words, conventional telecoms operators.
Recognised rating agencies have responsibilities under the Investment Advisers Act of 1940, but there is no regulation governing the quality or reliability of their ratings.
Banks are being encouraged to use their own internal rating systems, but the benchmark will tend to be that of officially recognised rating agencies.
Largely ignored, though, is a serious problem of sexual bullying among young people, which has long been recognised by agencies working with them.
Sir Martin Sorrell, its chief executive, said that war in Iraq would slow any recovery this year.See article: Green shoots or warning shots?The wait to rateAmerica's three "nationally recognised" rating agencies welcomed a fourth member to their exclusive club.
(America wants the entities to be classed as "recognised operating agencies", code for old-style telecommunication carriers).America's willingness to stand up for the internet should be welcomed.
Mr Kramer is pushing for the more specific term "recognised operating agencies" to be used instead.
A wide variety of sources is used in the preparation of material - including BBC News, BBC World Service and a large number of internationally recognised news agencies.
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