Definition of Nationally Recognized Statistical Rating Organization

The Commission is publishing for comment a proposed new rule under the Securities Exchange Act of 1934 ("Exchange Act'), which would define the term "nationally recognized statistical rating organization' ("NRSRO'). The proposed definition contains three components that must each be met in order for a credit rating agency to be an NRSRO. The Commission is also providing interpretations of the proposed definition of the term "NRSRO.' Defining the term "NRSRO' and providing interpretations of the definition would increase transparency with regard to the NRSRO concept.