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The European Securities and Markets Authority ( ESMA ) on Monday condemned the largest banks in Northern Europe to pay 2.48 million euros for granting unauthorized credit ratings to companies. , Nordea Bank, SEB Svenska Handelsbanken and Swedbank, fined 495 thousand euros each
Between June 2011 and August 2016, the five banks provided their searches with ratings of credit described as "parallel ratings". SEB continued this practice until May 2018.
The documents concerned various organizations and financial instruments and contained the views of the banks and their employees who, as he s'. turned out ESMA met the definition of credit. notation in the pan-European regulation on the activities of credit rating agencies ( CRAR ). In this case, the banks did not have the appropriate authorizations ESMA for the publication of these studies and ratings.
Northern Europe waits until ESMA approves a Northern Credit Rating Regional Rating Agency ( NCR ] which, according to the banks, will be in able to compete with world leaders – S & P Global Ratings, Moody's Investors Service and Fitch Ratings.
ESMA may issue a license NCR in August, says CEO of Bloomberg NCR Gustav Lidgren The founders and owners of NCR are the banks, stock exchanges and investment funds of the Nordic countries.
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