The Washington based CoStar Group (WKN: 922134 / ISIN: US22160N1090, Symbol: CSGP), with a staff of over 4,300 worldwide, is a company to watch in the rating industry, since CoStar is a leading provider of […]
Shenzhen – The World Economy of Tomorrow
You can read it in old German travel guides: Shenzhen was once a fishing village. Shenzhen is not mentioned in the five-volume “Der Neue Brockhaus” from 1975. In 1993, the renowned Brockhaus Encyclopedia reported in […]
Moody’s Heatmap Shows Heightened Environmental Credit Risk
Moody’s analysts have revised their environmental classification to reflect evolving environmental, social and governance standards, disclosure frameworks and market conventions among issuers and investors. Environmental risks can arise from regulatory and policy issues, hazards or […]
S&P And Moody’s Are Losing Market Share in the EU
For the first time, the European Securities and Markets Authority ESMA has reported a decline in market shares in Europe for both of the major US rating agencies. The authority thus discloses a remarkable development. […]
Screen Applicants Faster
With the Talent Report™ Select All solution, Equifax (NYSE: EFX) facilitates faster, more-informed hiring decisions for talent acquisition professionals with reliable verifications of employment via The Work Number® database. Talent Report Select All delivers contextual […]
Social Credit Rating
Oliver Everling (editor): Social Credit Rating, Wiesbaden 2020, Springer Gabler Verlag, eBook ISBN 978-3-658-29653-7, Softcover ISBN 978-3-658-29652-0. Social credit ratings are the result of social credit systems. These include online rating or scoring systems which […]
Toward A Reputation State: A Comprehensive View of China’s Social Credit System Project
China’s Social Credit System Project (the “SCSP”) is one of the most misunderstood recent developments in China’s law and policy. In the book “Social Credit Rating“, Xin Dai offers a comprehensive conceptual thesis that explains […]
2020 Becomes the First Year of Digital Currency
From October 8th to 18th, 2020, Luohu District, Shenzhen, China, conducted a digital currency experiment, issuing digital currency red envelopes totaling 10 million RMB (approximately 1.5 million Dollars). From the 8th to the 11th October, […]
57 Registered Credit Rating Agencies in China
Here is the most recent list of 57 registered credit rating agencies in the People’s Republic of China as of October 11, 2020:
Reflections on China’s Credit Reporting Practice
Prof. Wu Jingmei discusses in her contribution to the book “Social Credit Rating” the current situation, logic and development trends of China’s credit reporting system. China’s credit reporting system is composed of financial, commercial and […]
Retail Investors Benefit From the Quant IP Innovation Score
The Munich investment boutique Quant IP is launching a new tranche for private investors for its equity fund Quant IP Global Innovation Leaders Fund. This gives investors the opportunity to invest small sums in the […]
A Study on the Typological Regulation of the Dishonesty Punishment – also on the Rule Design of the Social Credit Law
The punishment of dishonesty is an important content of the credit rule of law, writes Wang Wei in the book “Social Credit Rating“. “The punishment of dishonesty is not a precise legal concept,” he says, […]
No Movement! Data or Life!
For many people it has become a reality: life is completely monitored. Hence it is no longer a question of whether life is, can or should be observed by strangers. It’s all about how, according […]
Groundbreaking Multifunctional Monitoring and Surveillance System for Compliance with Corona Hygiene Protection Measures
Artec technologies AG (ISIN DE0005209589) is now offering a multifunctional monitoring and monitoring system for compliance with corona hygiene protection measures called MULTIEYE OverCrowding Watch App. The software is based on existing artec products that […]
Risk Culture as a Means of Mitigating Conduct Risk
Thomas Kaiser and Tatjana Schulz write in their contribution to the book “Social Credit Rating” about the similarities with and differences to the China Social Credit System: Banks around the world have been exposed to […]
Determinants of Consumer Credit Default in Romania: A Comparison of Machine Learning Algorithms
Prof. Dr. Monica Dudian and Ana-Maria Sandica investigate the separation power of several machine learning techniques and compared them with the benchmark logistic regression using real data from 17520 private individuals of a Romanian commercial […]
Credit Rating Information Failed to Deliver
AvP Deutschland GmbH is an example of a rating dilemma: The company is too small to belong to the group of companies closely monitored by recognized rating agencies automatically, and too large to be ignored […]
SME Rating Dilemma
Small and medium-sized companies have difficulties communicating their creditworthiness credibly. Recognized credit rating agencies concentrate their services on companies that go through a committee-based rating process. The legal framework in Europe offers no alternative to […]
Separation of Product Comparison, Brokerage and Insurance Services
Any rating company who does not limit itselve to the comparison of financial services, but also insures the customer against risks, must obtain approval for this. There is no free market for financial services in […]
Legal Characteristics of Forest Ownership
At the federal and state level, there are laws on forests in Germany that must be taken into account with every rating of forest investments. The federal states regulate rights and obligations differently. In the […]
The Social Credit System and China’s Rule of Law
In 2014, the People’s Republic of China’s (PRC’s) central government formally declared the construction of a Social Credit System (SCS) a national task. Meanwhile, government-designated localities and companies are experimenting with scoring systems for businesses, […]
Genealogy of Country Risk
It is difficult to determine exactly when the concept of country risk was forged. The expression was used as far back as 1967 by Frederick Dahl – then assistant director of the Division of Examinations […]
Consumer Reporting Agency Against Bonus Hoppers
“If you want to purchase electricity and gas cheaply, you have to compare prices and, if necessary, change providers. Energy suppliers obviously want to change that with Schufa and a credit agency.” An article about […]
Cost Rating For Private Owners When Renting
Real estate remains the most popular form of investment among Germans. In times of volatile stock markets, a real estate investment is still seen by many private investors as a secure return opportunity. However, not […]
Unfair Advertising With Ratings On Social Media Platforms
Advertising with ratings on social media platforms that are given in return for participating in a competition is unfair. It can be assumed that a lottery will generate a considerable number of ratings. The Higher […]
An Economic Approach to China’s Social Credit System
In an effort to increase trustworthiness across society, the Chinese government has been building its Social Credit System since 2014. This system targets all natural and legal persons in China and consists of four major […]
A Case of Rating Repair for a Small Publicly Traded Company
A small publicly listed company is a company whose shares are bought and sold on a particular stock market even though turnover or total assets are small in comparison to other listed companies. Every big […]
Credit Rating and Residual Debt Insurance
The question of the extent to which the creditworthiness of the borrower has an impact on the take out of a residual debt insurance is repeatedly the subject of discussions, i.e. whether consumers with lower […]
Trust In a Time of Uncertainty
The corona pandemic is far from over. This is especially true if you do not look at it from a purely medical point of view, but also from the perspective of the social and economic […]
How the Authority Determines Whether a Board Member Has Sufficient Time
Within the scope of the Banking Act, the notification of intent to appoint a management board member must include the material facts for an assessment of whether sufficient time is available for the performance of […]
Management Board Members Must Submit a Certificate of Good Conduct for Official Purposes
Depending on their nationality and place of residence, management board members must submit the original copy of a “certificate of good conduct for presentation to a German authority (certificate of good conduct for official purposes)” […]
Data for Bank Management Board Member’s Reputation Rating
The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) provides some insights into what kind of data is used to establish a bank management board member’s reputation rating in its Guidance Notice on […]
Professional and Personal Requirements for Persons Appointed as Management Board Members
The Federal Financial Supervisory Authority of Germany (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) provided a Guidance Notice on management board members pursuant to the German Banking Act (Kreditwesengesetz – KWG), the German Payment Services Supervision Act […]
Credit Rating Criteria for Leasing Companies
Under the umbrella of the Auditing Association of German Banks, GBB-Rating Gesellschaft für Bonitätsbeurteil mbH (hereinafter referred to as “GBB-Rating”) provides long-term credit ratings of leasing companies. GBB-Rating has published criteria for the rating of leasing companies in German […]
Leasing Company Rating
Leasing companies have been analyzed by leading US credit rating agencies for decades. In addition to these rating agencies, there are other rating approaches for leasing companies. Three of these are briefly presented here. The […]
The Road Ahead For Social Credit Rating
In the book “Social Credit Rating” you can read a lot about the nature and content of the social credit system, learn about governance, law and sustainability, as well as methods, models and functions. But […]
Country Risk: The Bane of Foreign Investors
Country Risk: The Bane of Foreign Investors (by Norbert Gaillard, Springer, July 2020) is an original and innovative research work. Chapter 1 introduces the key concepts. Chapter 2 establishes that impediments to international business preceded […]
More Than 300 Raters Worldwide
There is a simple definition of the word “rater”: “one that rates”. A rater is specifically a person who estimates or determines a rating. Not every rater is a rating agency. In a number of […]
Rating Forest Investments
Understanding the importance of sustainability has popularized an asset class that used to be reserved for the state, churches and nobles. Forest – to be precise its wood – has always served people as fuel, […]
30 Registered Credit Rating Agencies in China
The credit rating industry in China has a history of more than 30 years. According to the “Interim Measures for the Administration of the Credit Rating Industry”, which came came into force on December 26, […]
What Happens When You Become A Founder and Start a New Rating Agency?
What happens when you start a new rating agency and become a founder? The 4 Ps are used here to identify some key factors for a new rating agency, including what investors and issuers want […]
Rating in Austria
The Recognized Credit Rating Agencies listed by the European Securities and Markets Authority (ESMA) have been registered or certified in accordance with Regulation (EC) No 1060/2009 of the European Parliament and of the Council of […]
Recognized Credit Rating Agencies
There are almost 200 countries in the world. Many countries do not have specific regulations on rating activities, but most industrialized countries do have laws on Credit Rating Agencies (CRAs). Credit Rating Agencies are required […]
Rating Repair of a German Hotel Consulting Company’s Credit Report
How does rating repair work in practice? The following is an example. A full rating repair needs even more than shown here, but this real example of a real company gives a first impression of […]
Recognized Credit Rating Agencies in Russia
ACRA Analytical Credit Rating Agency The Russian Government set a minimum credit rating for banks that service federal budget funds (the document is published on the official website of the Russian Federation Ministry of Finance […]
National Securities and Stock Market Commission of Ukraine Registered Credit Rating Agencies
In Ukraine, a person acquires the right to define ratings from the date of the issuance of the Certificate on Inclusion into The State Register of Authorized Rating Agencies.
Banco Central de Uruguay Registered Credit Rating Agencies
Here is a list of Credit Rating Agencies registered by the Banco Central de Uruguay:
Monetary Authority of Singapore Encourages Ratings By Singapore-dollar Credit Rating Grant
The European Commission’s decision to repeal the equivalence status for Singapore Credit Rating Agencies does not impact the operations of Credit Rating Agencies in Singapore. As confirmed by the European Commission, Credit Rating Agencies in […]
Securities and Exchange Commission Thailand Approved Credit Rating Agencies
The following rating agencies shall be Credit Rating Agencies approved by the Office of the Securities and Exchange Commission of Thailand to issue credit rating for instruments or businesses related to issuance and offer for […]
Comisión Nacional Bancaria y de Valores Supervised Credit Rating Agencies
Comisión Nacional Bancaria y de Valores (CNBV) main function is to inform the market about the real risks that the investing public faces in financial intermediation. Regulation is essential for greater transparency in its actions […]
Suruhanjaya Sekuriti Securities Commission Malaysia Committed to Allow ASEAN-Owned Credit Rating Agencies in Malaysia
Under the Working Committee on Financial Services Liberalisation, the Association of South-East Asian Nations (ASEAN) completed the Eighth Package of Financial Services Commitments (Eighth Package), which was signed by the Association of South-East Asian Nations […]
Superintendencia de Compañías, Valores y Seguros Reports Credit Rating Agencies
The Superintendency of Companies, Securities and Insurance of Ecuador, Superintendencia de Compañías, Valores y Seguros (SC), listed on August 6, 2020 the following Credit Rating Agencies:
Signed Up Credit Rating Agencies At SUGEVAL
The Superintendencia General de Valores (SUGEVAL) is the supervisor of Calificadoras de Riesgo, Credit Rating Agencies in Costa Rica. Here is a complete list of Credit Rating Agencies enrolled in Costa Rica as of August […]
Securities and Exchange Commission of Brazil Recognized Credit Rating Agencies
Here are all recognized Credit Rating Agencies with name, address, district, city, state, postal addressing code, direct distance dialing, phone, fax, names of the risk rating director and internal controls director, registration date, Brazil national […]
Issuer Definition
An issuer is a legal entity that issues financial instruments. Depending on the jurisdiction the issuer is domiciled in, the work of an issuer includes to develop, register and sell securities for the purpose of […]
Requested Credit Ratings Process
A credit ratings of a Recognized Credit Rating Agency is usually the result of an issuer requested credit ratings process. In the following, you get a quick overview on how the process looks like at […]
Australian Securities and Investments Commission Licensed Credit Rating Agencies
The Australian Securities and Investments Commission (ASIC) published an information sheet (INFO 143) for credit rating agencies providing services in Australia. It gives guidance on the meaning of certain conditions that apply to these credit […]
First Quality Check On A Credit Reporting Agency: Creditsafe
This article is about the credit reporting agency Creditsafe, the performance of the company and a concrete example of what a credit report from Creditsafe looks like in practice. Details of the offer are examined […]
Financial Sector Conduct Authority Registered Credit Rating Agencies in South Africa
The Credit Rating Agencies listed below have been registered in accordance with Section 5(1) of the Credit Rating Services Act, 24 of 2012 in South Africa. The list is published by the Financial Sector Conduct […]
Canadian Securities Administrators Designated Rating Organizations
The Canadian Securities Administrators identified Designated Rating Organizations, and imposed requirements on credit rating organizations wishing to have their credit ratings eligible for use in securities legislation. The rule of the Canadian securities regulators establishes […]
Comisión Nacional de Valores República Argentina Registered Credit Rating entities
Credit Rating Agencies are those entities that are dedicated to making risk ratings. In Argentina, entities must be registered with the Comisión Nacional de Valores in order to carry out the activity and they can […]
Bangladesh Securities and Exchange Commission Registered Credit Rating Agencies
The following Credit Rating Agencies are registered by the Bangladesh Securities and Exchange Commission:
Securities and Exchange Commission of Pakistan Registered Credit Rating Companies
An application for permission to form a credit rating company by persons meeting the eligibility criteria accorind to the Credit Rating Company Regulations shall be made to the Securities and Exchange Commission of Pakistan along […]
Securities and Exchange Board of India Registered Credit Rating Agencies
A credit rating agency whose application for grant of a certificate of permanent registration has been refused by the Securities and Exchange Board of India shall cease to undertake any credit rating activity. Here is […]
Benefits of Credit Ratings
Bond purchases, like all investments, come with a certain amount of implied risk. The primary hazards of bond investing are the potential for non-payment and capital loss, caused by a decline in the instruments’ market […]
Securities & Exchange Organization of Iran Registered Credit Rating Agencies
The Securities & Exchange Organization of Iran publishes lists of certified financial institutions in the Islamic Republic of Iran. On July 28, 2020, these Credit Rating Agencies were on the list:
Finma Authorized Credit Rating Agencies
The Swiss Financial Market Supervisory Authority FINMA supervises financial institutions making use of the services of Credit Rating Agencies, e.g. for the capital-adequacy calculations carried out by banks. Supervised institutions can use ratings to meet […]
Financial Services Agency of Japan Authorized Credit Rating Agencies
The purpose of supervising Credit Rating Agencies in Japan is, in view of specific problems in their governance, to ensure the appropriate business operations of Credit Rating Agencies in Japan, and to bring about the […]
Capital Markets Authority of Saudi Arabia Authorized Credit Rating Agencies
As in many other countries, the work of Credit Rating Agencies has been regulated in the Kingdom of Saudi Arabia, since ratings are referenced in various ways in the financial system. It is therefore necessary […]
U.S. SEC NRSRO
The Office of Credit Ratings (OCR) assists the U.S. Securities and Exchange Commission (US SEC) in executing its responsibility for protecting investors, promoting capital formation, and maintaining fair, orderly, and efficient markets through the oversight […]
ESMA Authorized Credit Rating Agencies
In the period leading up to the financial crisis in 2008, 2010 and so on, the European Commission considered to strengthen the regulatory and supervisory framework for Credit Rating Agencies (CRAs) in the European Union (EU), […]
Civil Address
Every rating has to start with the unequivocal identification of people. It is not just about the identity of debtors and their civil address registration, but also that of managers in companies such as board […]
Rating Airports
Credit ratings play an important role for airports and their operators, since in most cases the capital requirements for airports can only be met when bonds are issued. Ratings are used to assess airport liabilities […]
Patent Rating
Innovation rating and patent rating have different tasks, but are interrelated. An innovation rating is used to assess a company’s ability to compete with other (innovative) companies through innovation. The patent rating, on the other […]
Innovation Rating
The basic idea was already known to the Romans: the word “innovation” is developed from the Latin verb innovare (renew). As a noun, it means “newness” or “renewal”. The term is used in everyday language […]
Equity Rating Repair
Stock instruments issued or to be issued and / or traded on certain stock markets may be the subject of ratings. Stock ratings reflect the risks associated with the creditworthiness of the issuer and the […]
Rating Assets
Is a musical work a rateable asset? Or is just a metal like gold a rateable asset? RATING EVIDENCE and RATING©REPAIR relate to the evidence and to the repair of ratings for specific assets or […]
KYC Risk Rating
Under strict Anti-Money Laundering (AML) regulations put in place by national governments, the European Union (EU), the Financial Action Task Force (FATF), and the United Nations (UN), all financial institutions and many types of companies […]
Recovery Rating
Credit risk is a function of an issuer’s probability of default and the loss given default on a specific debt instrument. For noninvestment grade corporate issuers, some rating agencies assign separate ratings for these two […]
Risk Profiling With Investors: Analyze Customer Profiles Appropriately and Use Them in Consulting
Oliver Everling and Monika Müller (publisher): Risk profiling with investors: aptly analyze customer profiles and use them in consulting, Bank Verlag, http://www.bank-verlag-shop.de/, Cologne, 2nd, revised and expanded edition, 507 pages, Cologne 2018, ISBN 978-3-86556-506-8. Consultants […]