Classical finance has undergone a major change in recent years. In our modern world, where risk becomes more complex and difficult to calculate, more sophisticated mathematical techniques and products are needed to quantify such new risks. The financial sector should have a solid structure in...

Ratings in emerging markets can serve as part of the early warning systems to reflect the weak signals of potential risks to the entity from the environment. Emerging markets have specific features that rating agencies usually consider in judgments of their credit ratings. They are underpinned...

This paper examines the issues of the aggregation and comparison of the credit ratings of various economic agents for risk management purposes in a commercial bank. The empirical results of the study make it possible to increase the assessment of credit risks based on the constructed system of...

In 2018, the Insurance Distribution Directive (IDD) was fully implemented by all EU member states. It intends to harmonize the insurance market, provide the right incentives for the agents and protect the consumers. But why? The core business of the banking sector makes it necessary for a...