Role and Regulation of Credit Rating Agencies
Credit ratings are an integral part of banking and securities markets and their longstanding use by market participants is a testament to their positive value as an input into credit judgements. Credit rating agencies (CRAs) offer investors clear opinions on the creditworthiness of rated entities and financial instruments, set out in detailed research reports and summarised in easy-to-compare rating grades.
KeywordsEuropean Union Credit Risk Credit Rating European Central Bank Credit Default Swap
- Basel Committee on Banking Supervision (2009): Stocktaking on the Use of Credit Ratings, June 2009.Google Scholar
- EBA Banking Stakeholder Group (2014): Response to the Consultation Paper (JC/CP/2014/01) of EBA, ESMA and EIOPA on the Draft Implementing Technical Standards on the mapping of ECAIs’ credit assessments under Article 136(1) and (3) of Regulation (EU) No 575/2013 (Capital Requirements Regulation), June 2014.Google Scholar
- ECB (2014): Response to Financial Stability Board (FSB) request for action plans for reducing reliance on Credit Rating Agency (CRA) ratingsGoogle Scholar
- European Commission (2006): Press Release, Internal Market: Commission sets out its policy on credit rating agencies European Commission—IP/06/8 09/01/2006Google Scholar
- Financial Stability Board (2014): Thematic Review on FSB Principles for Reducing Reliance on CRA Ratings Peer Review Report, May 2014Google Scholar