.jpg)
The European Securities and Markets Authority (ESMA) has submitted a report outlining its staffing and resources needs in relation to its responsibility for supervising credit rating agencies (CRA) in the European Union.
The Report:
• provides an overview of the tasks ESMA carries out in relation to the supervision of CRAs;
• identifies the new tasks and responsibilities resulting from the entry into force of the CRA3 Regulation; and
• sets out staffing and budget needs.
It is expected that there will be a small growth in staff numbers in 2015 and 2016 to deal with the additional responsibilities under the CRA3 Regulation. The cost of the supervision of CRAs is funded by the annual fees they pay to ESMA.
