The Graveyard of Authorized Credit Rating Agencies in the European Union

Agencies, Authorities, Certifications, Registrations

Rating agencies have been registered in the European Union since 2010 in order to operate in accordance with the EU regulation on rating agencies of 2009 (CRAR). Dozens of agencies have therefore made use of the option, but also the obligation, to register or get certified. Rating agencies are only allowed to operate in the…

Fund Managers’ Greatest Difficulty in Accessing High Quality Data

Data

Fund managers’ difficulties in obtaining reliable data for fixed income investments offers plenty of scope for even more services from the leading credit rating agencies. New research with fund managers in North America who collectively manage around $600 billion, reveals they are placing a growing emphasis on both the quality of the data used in…

Sell Pressure at S&P Global Delights DBRS Morningstar

Agencies

DBRS Morningstar will benefit from LCD data and news, supporting credit analysts and credit investor workflows. S&P Global Market Intelligence’s Leveraged Commentary & Data (LCD) combines real-time news, data, tools, and analysis on the U.S. and European leveraged loan, high-yield bond, distressed, and investment-grade corporate markets. Produced by S&P Global’s own team of experienced journalists…

Exploring the DeFi Ecosystem

Reviews

Decentralized Finance (DeFi) presents limited risks to the mainstream financial system as, barring stablecoins, it is largely separate and not yet systemic in size. Nevertheless, alongside market and liquidity risks, fraud is a significant risk with DeFi transactions. While a smaller rating agency is hardly able to slow down enthusiastic investors, but – on the…

Investment Guidelines of German Municipalities in Practice

Agencies, Marketing, Regulations

US rating agencies remain at an advantage over their European competitors. As the practical example of regulation in Hesse shows, the investment guidelines for municipalities cement the dominant position of the US rating agencies for every rated investment. Even the German rating agencies are out of the question for most communities. Since the ratings of…

Information from the Hessian Ministry of the Interior on Investments and Deposit Protection in a New Light

Regulations

On May 29, 2018, the Hessian Ministry of the Interior informed on investments and deposit protection in the State of Hesse, Germany. In the wake of the Greensill scandal, this legal framework is being given new life in many communities. The following article will therefore first explain the legal framework created in 2018 before examples…

Russia’s Credit Rating Hinges on Tougher Sanctions

Actions

Possible sanctions attract the attention of credit analysts. Russia’s credit outlook could be adversely affected by specific Western sanctions, in the event of a failure to defuse the crisis over Ukraine, says Levon Kameryan, Senior Analyst, Sovereign and Public Sector Ratings, and looks at the cumulative impact of existing and potentially stronger future sanctions, a…

Disclosure Requirements for Initial Reviews and Preliminary Credit Ratings Discussed

Agencies, Authorities, Other, Regulations

The European Securities and Markets Authority (ESMA) published its “Final Report” with “Guidelines on Disclosure Requirements for Initial Reviews and Preliminary Ratings“. The purpose of these Guidelines is to deliver guidance that will address inconsistencies in the application of these requirements by Credit Rating Agencies (CRAs), and by extension reduce the risks that are posed…

Economic Emergency Braking in the USA and Surprising Recovery in Germany

Statistics

At the beginning of January, the US economy was still the world’s economic engine, while Germany – after negative growth in the fourth quarter – was heading for a very weak first quarter. “However,” says Carsten Mumm, Chief Economist at Privatbank DONNER & REUSCHEL, “the current flash estimates of the Markit purchasing managers’ indices paint…

New On-Chain NFT Art Platform

Agencies, Uses

A leading online art marketplace, art market data and analytics provider, and global newswire, announced “ArtNFT”: this is Artnet AG’s launch of its on-chain NFT platform, its NFT Advisory Board, and ‘Artnet NFT 30’ report. Artnet AG is listed in the Prime Standard of the Frankfurt Stock Exchange, the segment with the highest transparency standards.…

Moody’s Extends Pole Position with Bogard

Agencies

Moody’s Corporation has acquired Bogard AB, a leading provider of data and information on politically exposed persons (PEPs) in the Nordic region. The acquisition advances Moody’s ability to help customers perform Know Your Customer (KYC) screening and research to address financial crime. Bogard covers over 17,000 PEPs, relatives, and close associates across Sweden, Norway, Denmark,…

Little Risk of Systemic Contagion from the Evergrande Crisis

Reports

“China’s ghost cities” have become a familiar trope in Western media. Beyond Kangbashi, with its other-worldly stadiums and museums, there is Chengchong in southern Yunnan province; Binhai, outside the central city of Tianjin; and Tianducheng, in the Hangzhou suburbs, with its very own replica of the Eiffel Tower. China’s ghost cities are in the news again because of the financial travails…

Rating Agency Violates Disclosure of Transparency Reports and More

Agencies, Authorities, Compliances, Registrations, Regulations

CRA Transparency Reports 2021 “Transparency Reports” of credit rating agencies (CRAs) are published in accordance with Article 12 and Annex I, Section E.III of the EU Regulation on Credit Rating Agencies: (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies, as amended by Regulation (EU)…

ESG Ratings: The Good, the Bad, the Ugly

Agencies, Methodologies

Headline ratings no longer enough Prof. Dr. Nils Stieglitz gave a welcome address to the conference “ESG Ratings: The Good, the Bad, the Ugly” of the Corporate Governance Institute (Prof. Dr. Julia Redenius-Hövermann) at the Frankfurt School of Finance & Management, followed by Prof. Dr. Zacharias Sautner, showing data of Hartzmark and Sussman, 2019, proving…

Rating Agency Accused of Using Original, Then Rewritten Data

Agencies, Data

Refinitiv ESG’s rewriting not a one-time event Prof. Dr. Kornelia Fabisik, Assistant Professor of Finance, Frankfurt School, reports on some discoveries at one of the ESG rating agencies at the conference “ESG Ratings: The Good, the Bad, the Ugly” of the Corporate Governance Institute (Prof. Dr. Julia Redenius-Hövermann) at the Frankfurt School of Finance &…

ACRA partners with EDB and Armenia

Agencies, Authorities

Challenge of maintaining independence The Analytical Credit Rating Agency, Eurasian Development Bank (EDB), and the Ministry of Finance of the Republic of Armenia have entered into a Memorandum of Understanding that establishes areas for cooperation between the aforementioned parties, the key goal of which is to stimulate economic growth in the Republic of Armenia and…

No Risk-Free Deposit World in this World

Repairs

Dr. Tamaz Georgadze comments in the renowned “Börsen-Zeitung” on the “Causa Greensill“ Deposit platforms such as the German “WeltSparen” and “Zinspilot” are among the most important innovations in banking: Customers get more choice and can benefit from higher interest rates from other banks. Deposit-taking banks efficiently diversify the sources of their customer liquidity, which contributes…

Billion Dollar Brand Name Given Away

Advertising, Agencies, Consulting, Histories

Rework requested Just a few years ago, a cereal was linguistically associated with Kellogg’s. Anyone who spoke of Kellogg’s in Germany thought of cornflakes and vice versa, anyone who thought of cornflakes would also think of Kellogg’s. In the meantime, discount chains – from Germany for example – such as Aldi and Lidl have revolutionized…

Moody’s Work with Revenue Grid

Advertising, Agencies, Procedures, Technology

Revenue Grid, a Mountainview, California-based revenue platform, raised $20 million in Series A funding. “800,000 sales pros use Revenue Grid to win faster and with more confidence”, says the website. The company is proud to have Moody’s as a customer. W3 Capital led the round and was joined by investors including ICU Ventures. W3 Capital is a family owned…

Scoring Models for Occupational Disability Insurance

Advisors, Scores

Increasingly, insurers advertise that they are working with so-called scoring models when calculating premiums for occupational disability insurance. With the help of additional questions about the specific structure of everyday working life, the insurer should be able to get a more realistic picture of the risk to be insured. Customers and intermediaries should welcome it…

Art Markets’ Susceptibility to Rating Repair

Assets

The professionalization of an asset class can only be achieved with reliable rating offers. More artworks are offered and traded digitally than ever before. With 24/7 worldwide bidding, “Artnet Auctions” is a leading online-only marketplace for buying and selling fine art. New bidders, buyers, and consignors across categories, geographies, and demographics entrust artnet Auctions with…