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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
16/07/2012 ESMA 2011 PL Europejski Urząd Nadzoru Giełd i Papierów Wartościowych- Sprawozdanie roczne 2011 Annual Report PDF
129.12 KB
This is a summary of the 2011 annual report of ESMA.
28/11/2014 ESMA 2013 AR NL Europese Autoriteit voor effecten en markten Annual Report PDF
308.08 KB
NL - Deze vertaling is verzorgd door het Vertaalbureau voor de organen van de Europese Unie.
16/07/2012 ESMA 2011 NL Europese Autoriteit voor effecten en markten- Jaarverslag 2011 Annual Report PDF
124.08 KB
This is a summary of the 2011 annual report of ESMA.
28/11/2014 ESMA 2013 AR LT Europos vertybinių popierių ir rinkų institucija Annual Report PDF
315.46 KB
LT - Šį tekstą išvertė Europos Sąjungos įstaigų vertimo centras.
16/07/2012 ESMA 2011 LT Europos vertybinių popierių ir rinkų institucija- 2011 m. metinė ataskaita Annual Report PDF
133.54 KB
This is a summary of the 2011 annual report of ESMA.
28/11/2014 ESMA 2013 AR HR Europsko nadzorno tijelo za vrijednosne papire i tržišta kapitala Annual Report PDF
247.47 KB
HR - Za prijevod se pobrinuo Prevoditeljski centar za tijela Europske unije.
28/11/2014 ESMA 2013 AR DE Europäische Wertpapier- und Marktaufsichtsbehörde Annual Report PDF
307.67 KB
DE - Die Übersetzung erfolgte durch das Übersetzungszentrum für die Einrichtungen der Europäischen Union.
16/07/2012 ESMA 2011 DE Europäische Wertpapier- und Marktaufsichtsbehörde- Jahresbericht 2011 Annual Report PDF
150.57 KB
This is a summary of the 2011 annual report of ESMA.
28/11/2014 ESMA 2013 AR HU Európai Értékpapír-piaci Hatóság Annual Report PDF
287.87 KB
HU - Ezt a fordítást az Európai Unió
16/07/2012 ESMA 2011 HU Európai Értékpapír-piaci Hatóság- Éves jelentés 2011 Annual Report PDF
119.25 KB
This is a summary of the 2011 annual report of ESMA.
28/11/2014 ESMA 2013 AR SK Európsky orgán pre cenné papiere a trhy Annual Report PDF
429.82 KB
SK - Preklad vyhotovilo Prekladatelské stredisko pre orgány Európskej únie.
16/07/2012 ESMA 2011 SK Európsky orgán pre cenné papiere a trhy- Výročná správa 2011 Annual Report PDF
162.03 KB
This is a summary of the 2011 annual report of ESMA.
28/11/2014 ESMA 2013 AR SL Evropski organ za vrednostne papirje in trge Annual Report PDF
317.34 KB
SL - Prevod je zagotovil Prevajalski center za organe Evropske unije.
16/07/2012 ESMA 2011 SL Evropski organ za vrednostne papirje in trge- Letno poročilo za leto 2011 Annual Report PDF
118.15 KB
This is a summary of the 2011 annual report of ESMA.
28/11/2014 ESMA 2013 AR CS Evropský orgán pro cenné papíry a trhy Annual Report PDF
404.2 KB
CS - Tento překlad vypracovalo Překladatelské středisko pro instituce Evropské unie.
16/07/2012 ESMA 2011 CS Evropský orgán pro cenné papíry a trhy Výroční zpráva za rok 2011 Annual Report PDF
240.29 KB
This is a summary of the 2011 annual report of ESMA.
17/05/2011 2011/144 Final advice- ESMA´s Technical Advice to the Commission on Fees for CRAs Technical Advice PDF
1.72 MB
28/11/2014 ESMA 2013 AR MT L-Awtorità Ewropea tat-Titoli u s-Swieq Annual Report PDF
333.12 KB
MT - Din it-traduzzjoni giet ipprovduta  mic-Centru tat-Traduzzjoni ghall-Korpi tal-Unjoni Ewropea.
16/07/2012 ESMA 2011 MT L-Awtorità Ewropea tat-Titoli u s-Swieq- Rapport Annwali 2011 Annual Report PDF
120.46 KB
This is a summary of the 2011 annual report of ESMA.
17/09/2014 2014/850rev Technical Advice in accordance with Article 39(b) 2 of the CRA Regulation Technical Advice PDF
370.42 KB
This document has been revised to reflect an amended figure in Table 1 and two re-classifications of solicitation status in Table 2. Article 39b(2) of the CRA Regulation states that the European Commission shall adopt a report by end 2014 – after receiving ESMA’s technical advice – on the appropriateness of the development of a European creditworthiness assessment for sovereign debt. In its request for advice, the Commission asked ESMA to provide input on the issue of sovereign ratings and rating processes including an overview of the market for sovereign ratings, information on operational issues regarding sovereign ratings, information on sovereign rating processes as well as lessons drawn from ESMA’s supervisory experience. Contents For the purposes of this advice, ESMA provides its views based on the quantitative information contained in the CEREP public database and on information publicly disclosed by credit rating agencies registered with ESMA. Additionally, ESMA’s advice has been informed by its first supervisory activities regarding the rating process for sovereign ratings of CRAs which are active in the EU sovereign rating market. In accordance with the CRA Regulation, these supervisory activities did not address the content of the sovereign methodologies themselves but rather were concerned with the independence, transparency and governance of the sovereign rating process. Sovereign credit ratings play a crucial role from a credit market and financial stability perspective, not least because sovereign governments account for the largest group of borrowers in capital markets in terms of volume. In addition the crucial importance of these sovereign ratings can be amplified by the “cascade” effect sovereign ratings have on other asset classes via their presence as factors in other asset methodologies. In the EU the sovereign rating market is composed of nine CRAs established in nine different EU member states. These nine CRAs exhibit a high level of variation with respect to the type and number of sovereign ratings they assign. Sovereign credit ratings themselves can also be differentiated in various ways depending on such factors as local/foreign currency, duration of issuance, whether the rating applies to a specific issuer or issuance and if it is solicited or unsolicited. In addition ESMA would like to emphasise the following points which it believes to be important when considering the appropriateness of the development of a European creditworthiness assessment of sovereign debt.