Are Rating Agencies Powerful An Investigation Into the Impact and Accuracy of Sovereign Ratings is popular PDF and ePub book, written by Mr.John Kiff in 2012-01-01, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Are Rating Agencies Powerful An Investigation Into the Impact and Accuracy of Sovereign Ratings can be Read Online from any device for your convenience.
Are Rating Agencies Powerful An Investigation Into the Impact and Accuracy of Sovereign Ratings Book PDF Summary
We find that Credit Rating Agencies (CRA)'s opinions have an impact in the cost of funding of sovereign issuers and consequently ratings are a concern for financial stability. While ratings produced by the major CRAs perform reasonably well when it comes to rank ordering default risk among sovereigns, there is evidence of rating stability failure during the recent global financial crisis. These failures suggest that ratings should incorporate the obligor's resilience to stress scenarios. The empirical evidence also supports: (i) reform initiatives to reduce the impact of CRAs' certification services; (ii) more stringent validation requirements for ratings if they are to be used in capital regulations; and (iii) more transparency with regard to the quantitative parameters used in the rating process.
Detail Book of Are Rating Agencies Powerful An Investigation Into the Impact and Accuracy of Sovereign Ratings PDF
- Author : Mr.John Kiff
- Release : 01 January 2012
- Publisher : International Monetary Fund
- ISBN : 9781463998721
- Genre : Business & Economics
- Total Page : 35 pages
- Language : English
- PDF File Size : 10,9 Mb
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