Day: September 10, 2026
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Is ESMA Becoming a Rating Agency? Steffen Kern Places Risk Monitoring in the Broader Role of Financial Supervision
The presentation of risks by the European Securities and Markets Authority (ESMA) can easily invite a comparison with the work of a rating agency. Liquidity, market, credit, contagion, operational and environmental risks are assessed and communicated using a colour-coded system ranging from lower to very high risk. Combined with an outlook indicating whether risks are…
