Following the European Commission’s additional request for CESR to review several aspects of the rating process regarding structured finance instruments (Ref. CESR/07-608), CESR has reviewed its work plan and issues today further information on additional elements that will be covered, and the timetable for its work.
October 2007 - January 2008 Preparation of consultation paper.
Mid February - End March 2008 Consultation period and possible hearings with market participants.
April 2008 Assessment of responses to consultation and preparation of the final report.
Mid May 2008 Submission to the European Commission of the final report and publication on CESR’s website.
Further information is set out in the Press Release. published today.
