Bankers and the agencies - talks on curbing rating agencies

Up to 20 of Europe's top banks will discuss a plan to foil the dominance of the much criticised big three credit agencies at a private meeting of finance directors in Frankfurt.

Some of the banks want to change the culture of information disclosure to the likes of Standard & Poor's, Moody's and Fitch to level the playing field for potential new entrants. "They get privileged information", said one person familiar with the plan. "In future, maybe they should only get a standard pack, putting everyone on an equal footing." ... READ MORE

Released by the Financial Times - 7 May 2012