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European Parliament and Council Regulation on Credit Rating Agencies. With this proposal the European Union aims at addressing … calls for more regulation of the (global) financial markets and overall improvements in the rating process of Credit Rating … authors offer a first critical comparative examination of the proposed Regulation against the background of the current regime …
Persistent link: https://www.econbiz.de/10013134767
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
, policymakers, and the general public about important credit rating agency regulation proposals and their potential impact on … rating agency regulation. It focuses on two areas of primary importance - oversight and accountability - and offers specific …
Persistent link: https://www.econbiz.de/10013158298
towards regulation and oversight of these entities in the U.S. and in the EU are comparatively analyzed. The paper concludes … only when ratings are deemed reliable. It then argues that, even though regulation and oversight of rating agencies might …
Persistent link: https://www.econbiz.de/10013036669
Using an international sample of more than 65,000 rating actions by Fitch, Moody's and S&P, we analyze the effect of the Dodd-Frank Act on credit ratings. We document that (i) rating report content changes significantly after Dodd-Frank and (ii) show, by exploiting within firm-quarter variation,...
Persistent link: https://www.econbiz.de/10013336275
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
This paper looks at the credit rating adjustments on Eurozone banks that followed the post-crisis regulation of bank …
Persistent link: https://www.econbiz.de/10013212631
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
In the United States and Europe faulty credit ratings and flawed rating processes are widely perceived as being among the key contributors to the global financial crisis. That has brought them under intense scrutiny and led to proposals for radical reforms. The ongoing debate, while centered in...
Persistent link: https://www.econbiz.de/10013155804