Showing 1 - 10 of 42,420
In the wake of the global financial crisis, the European Parliament and Council Regulation 1060/2009 on Credit Rating … Agencies has recently been published in the Official Journal of the European Union. With this Regulation the European Union … takes a first step in addressing calls for a better regulation of the (global) financial markets including, among other …
Persistent link: https://www.econbiz.de/10013134115
types of macro-prudential regulation: (i) those that attempt to take credit ratings out of regulation such as Section 939A … of the 2010 Dodd-Frank Act and (ii) those that aim to reduce the importance of credit ratings in regulation such as the …
Persistent link: https://www.econbiz.de/10013102822
The principal agent problem is one of the major issues of the credit rating agency market. Is it possible to solve the prevailing incentive problem of the market and contemporaneously satisfy the reputation demand of the investors? This paper presents an option for regulating the credit rating...
Persistent link: https://www.econbiz.de/10009672312
Since the beginning of the global financial and economic crisis, the search for its causes has been in full flight on both sides of the Atlantic. Inter alia, fundamental failures in the evaluation of risk and the role that Credit Rating Agencies (CRAs) play in the assessment of credit risk are...
Persistent link: https://www.econbiz.de/10013097023
crisis, after the crisis started, politicians became increasingly vocal in demanding regulation. Initially, these demands … were confined to a more binding form of self-regulation. But as the crisis progressed, the calls for state regulation grew … ever louder. It became apparent after the November 2008 G-20 summit in Washington that state regulation could no longer be …
Persistent link: https://www.econbiz.de/10013144643
America and European Union have both recently issued an accurate regulation, that require the agencies the compliance with …
Persistent link: https://www.econbiz.de/10013086957
We examine rating behaviour after the introduction of new regulations regarding Credit Rating Agencies (CRAs) in the European securitisation market. Employing a large sample of 12,469 ABS tranches issued between 1998 and 2018, we examine the information content of yield spreads of ABS at the...
Persistent link: https://www.econbiz.de/10014507193
When things go wrong, it is always good to find someone to blame. As the credit crisis started to unfold in 2007, credit rating agencies (“CRAs”) emerged as the villain – or scapegoat, one might say – for commentators and regulators alike. To sum up, observers accused CRAs of doing a...
Persistent link: https://www.econbiz.de/10013120955
The credit crisis that started in the American mortgage subprime market in 2007 is having profound social and economic consequences. In this context, lawmakers, regulators, and commentators have questioned the role of rating agencies in the market turmoil. In light of the critiques, a strong...
Persistent link: https://www.econbiz.de/10013156993
European Commission's Draft Proposal to amend the EU-Rating Regulation, could possibly be eliminated by procedural presumptions …
Persistent link: https://www.econbiz.de/10013088984