欧盟对信用评级机构的立法监管及新动向

The European Union's Regulation on Credit Rating Agencies

全球三大评级机构在国际金融市场上具有举足轻重的话语权。评级机构在欧债危机中所扮演的角色并不是无辜的"报信者",由于其在市场上广泛的影响力,降级活动进一步加剧了市场的波动性,从而成为危机深化的重要推手。欧债危机促使欧盟加快对信用评级机构的立法步伐,强化在欧盟层面对信用评级机构统一注册和监管的法律框架。当前,对信用评级机构进行立法监管已经成为西方主要国家的共同实践,监管规则的国际协调持续推进。理解欧盟乃至全球各国对信用评级机构监管思路和实践的重大变化,对中国的金融监管部门和评级企业来说都具有重要的现实意义。

The world's 'Big Three' credit rating agencies have acquired significant discourse power.After the breakout of the Euro debt crisis,far from being innocent 'messengers',they instead acted as an important driver pushing the troubled countries into deeper crisis.In response,the European Union has promulgated a series of regulations on credit rating agencies and established a pan-European legal framework for registration and supervision.Owing to the fact that promulgating laws on credit rating agencies has become a common practice in the West,it is of great relevance to both Chinese financial regulators and the local credit rating agencies to understand the paradigm shift in the ideas and practice for regulating the credit rating agencies not only in the EU but in the other parts of the world.