Rating agencies have been and should remain an important aspect of modern capital markets. But to make ratings work, the raters need to be rated.

The Unit and the Council have exchanged information about various NHRIs within Europe.

(b) European Meeting of National Institutions

The credit rating agencies would probably evaluate the United Nations for credit rating purposes based on various criteria, including

Name of launching authority European Space Agency

Working level contacts continue between different United Nations entities and the relevant bodies of the European Union.

Since the crisis, rating agencies have been under attack, and major regulation, which could severely affect their business, has been discussed on both sides of the Atlantic. Given this, how free are credit rating agencies to express their opinion on the very institutions that will regulate them?

The conclusions of an evaluation carried out by Council of Europe experts to the effect that local bodies needed to be strengthened had also been taken into account.

Disappointment about the raters performance, and skepticism about the effectiveness of regulation, has led to calls to eliminate any regulatory reliance on ratings. If ratings are not backed by the force of law, so the argument goes, regulators need not worry about rating quality and can leave the monitoring of raters to the market.

The Union and its member States are committed to cooperating with international human rights mechanisms at the global and regional levels.

This can be done by making raters profits depend not on satisfying the issuers that select them, but on performing well for investors. If raters profits depend on such performance on the accuracy of their ratings the profit motive would turn from a source of perverse incentives to a provider of beneficial incentives.

The United Nations goal with respect to the credit rating would be to convince the credit rating agencies to treat the borrowing as quasi sovereign for credit rating purposes.

Moreover, several African countries have received ratings from credit agencies, which has opened up global financial centers to them. In some cases, these ratings have proved equivalent to or higher than those of countries such as Turkey or Argentina.

Box 1 Inter institutional cooperation in action UN ECE ITC UNCTAD

(c) The international space institutions and related activities, regulatory acts and policies, European space institutions

(a) Council of Europe Round Table of National Human Rights Institutions

The Service provides technical support, including advisory services and the formulation, backstopping and evaluation of field projects, to about 50 developing countries in Africa, Asia, Latin America and the Caribbean and central and eastern Europe.

So that brings the idea of some kind of rating agency, Morningstar type.

The claim that a European Union body was supporting the project was totally misleading, as no European institution had formulated an approach to it.

European and international supervision of nuclear material is made by the EU Commission and the IAEA (Euratom Treaty, INFCIRC 193).

Meeting of Ministerial Session of the Central Organ of the Organization of African Unity

One proposed approach would reduce the significance of the raters opinions. In many cases, the importance of ratings comes partly from legal requirements that oblige or encourage institutional investors and investment vehicles to maintain portfolios of assets that have received sufficiently high grades from the recognized agencies.

To coordinate joint steps in drawing practical support on behalf of international organizations, structures and institutions, in particular, the European Union, the Council of Europe, the Association of European Regions, the East West Institute.

The Centre cooperates with European Union anti discrimination institutions.

ECSL maintains contacts with other institutions working for the promotion of space law in and outside Europe.

The Ffacilitation of iimplementation programme consists of four sub programmes, namely those for Africa, Asia, Latin America and the Caribbean (LAC), and Europe (Northern Mediterranean and Central and Eastern European countries).

CITA cooperates closely with European Union institutions.

9. Also expects the parties to cooperate fully with the international mechanisms that have mandates involving human rights, including the High Representative, the United Nations High Commissioner for Human Rights, the Organization for Security and Cooperation in Europe, the Council of Europe and other international, regional as well as non governmental organizations

And now the country has absorbed another huge blow another downgrade of its bond ratings. Both Moody s and Standard amp

And now the country has absorbed another huge blow another downgrade of its bond ratings. Both Moody s and Standard Poor s now rate Japanese bonds at only their fourth highest level.

This will be a strategy of the whole European Union the Union, its institutions and the member States.

Any consequences will come further down the line for Paris Saint Germain from UEFA, the governing body overseeing the European game which has the power to ban teams from the prestigious Champions League tournament.

However, the European example was exceptional since the supervisory bodies of the European Convention were vested with judicial and quasi judicial competencies, which was not the case with other bodies established by treaties.

The Institute further cooperates with the European Union anti discrimination institutions.

The ECB and Its Critics

In relation to the largely congruent provision of article 6, paragraph 1, of the European Convention, the European Commission has decided that disputes concerning the judiciary, despite their independence from the executive branch, fall outside the scope of article 6. The European Court, since Pellegrin v.

Standard amp Poor argued that such a mechanism would provide credit rating agencies with less incentive to compete with one another, pursue innovation, and improve their models, criteria, and methodologies.

Predictably, the Senate s bill encountered stiff resistance from the dominant rating agencies. Standard Poor argued that such a mechanism would provide credit rating agencies with less incentive to compete with one another, pursue innovation, and improve their models, criteria, and methodologies.

The lack of transparency in the working methods of rating agencies was also noted.

The following intergovernmental organizations and United Nations specialized agencies submitted reports and information the Council of Europe and in particular the European Court of Human Rights, the European Commission, the Office for Democratic Institutions and Human Rights of the Organization for Security and Cooperation in Europe (OSCE) and the Office of the United Nations High Commissioner for Refugees.

On 20 July 2005, the NI Unit attended a meeting in Paris to enhance concerted action on the part of OHCHR, the Council of Europe and the European Coordinating Group regarding the establishment of NHRIs in States members of the Council of Europe.

There needs to be effective communication and coordination between international bodies, not only United Nations bodies, such as WHO, and non governmental organizations, but also the European Union, the Council of Europe and the European Monitoring Centre for Drugs and Drug Addiction (EMCDDA).

Frequency of meetings of Heads of National Drug Law Enforcement Agencies, Europe

It has had the same status at the Council of Europe since 1999.

Once developed, such a mechanism should not be limited (as, unfortunately, it is in the Senate s bill) to ratings of structured financial products. It should apply to all products that rating agencies evaluate.