US SEC mulls stricter rules for credit agencies

WASHINGTON, Sept 15 | Tue Sep 15, 2009 1:58pm EDT

WASHINGTON, Sept 15 (Reuters) - U.S. securities regulators are considering requiring banks to share data used to rate bonds with all credit rating agencies, two sources familiar with the Securities and Exchange Commission's thinking said on Tuesday.

The data would not be disclosed publicly but would be shared with other rating agencies in an attempt to generate unsolicited ratings for their products, one source said.

The SEC is due to meet Thursday to discuss new rules and proposals to clamp down on the credit rating industry, long dominated by Moody's Corp (MCO.N), Standard & Poor's, a unit of McGraw-Hill Cos Inc (MHP.N), and Fimalac SA's (LBCP.PA) Fitch Ratings.

(Reporting by Rachelle Younglai)

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