Regulating Credit Rating Agencies

Aline Darbellay ,

Tap to preview
Regulating Credit Rating Agencies

About the eBook

This highly topical book examines how the leading credit rating agencies - Moody's, Standard & Poor's and Fitch - have risen to prominence in the wake of the financial crisis.

It investigates how the Big Three have become ever more profitable even though the quality of their ratings has declined and rating scandals have tarnished their reputation. After a century of being left quasi-unregulated the rating industry is now subject to sweeping reforms. This informative study analyzes the post-crisis overhaul in the United States and the European Union. The focus lies on the interactions between regulatory intervention and competitive incentives among the Big Three. This book highlights the challenges faced by policymakers trying to regulate the rating industry and simultaneously decrease over-reliance on ratings.

Regulating Credit Rating Agencies will appeal to academics in law and economics, practitioners, policymakers, lawmakers and regulators.

Part I: Prelude to the Credit Rating Industry
1. Introduction
2. History of Credit Rating Agencies
3. Description of the Credit Rating Industry
Part II: Regulatory Structure
4. Rating-based Regulations
5. Regulatory Treatment of Credit Rating Agencies
6. Regulatory Trends
Part III: Uses and Abuses of Credit Ratings in Structured Finance
7. Growth of the Structured Finance Segment
8. Wrong Incentives in the Credit Rating Industry
9. Regulatory Response to the Problems of Structured Finance Ratings
Part IV: System-wide Effects of Credit Rating Downgrades
10. System-relevance of Credit Ratings
11. Market Reactions to Credit Rating Downgrades and their Consequences
12. Regulatory Response to the Systemic Issue
Part V: Trends and Outlook
13. Restoring Competition in the Credit Rating Industry
14. Concluding Remarks

Show more

In The Press

About the Author

  • Publisher:
  • Published: ; Copyright:
  • ISBN:
  • Edition:
  • Title:
  • Series:
  • Author:
  • Imprint:
  • Language:
  • Number of Pages:  [disclaimer] Page count shown is an approximation provided by the publisher. The actual page count will vary based on various factors such your device's screen size and font-size.

Read online

You can read this ebook online in a web browser, without downloading anything or installing software.

Download file formats

This ebook is available in file types:

This ebook is available in:

After you've bought this ebook, you can choose to download either the PDF version or the ePub, or both.

DRM Free

The publisher has supplied this book in DRM Free form with digital watermarking.

Required software

You can read this eBook on any device that supports DRM-free EPUB or DRM-free PDF format.

Digital Rights Management (DRM)

The publisher has supplied this book in encrypted form, which means that you need to install free software in order to unlock and read it.

Required software

To read this ebook on a mobile device (phone or tablet) you'll need to install one of these free apps:

To download and read this eBook on a PC or Mac:

  • Adobe Digital Editions (This is a free app specially developed for eBooks. It's not the same as Adobe Reader, which you probably already have on your computer.)

Limits on printing and copying

The publisher has set limits on how much of this ebook you may print or copy. See details.

  • {{ format_drm_information.format_name }} unrestricted {{ format_drm_information.format_name }} {{format_drm_information.page_percent}}% pages every day{{format_drm_information.interval}} days {{ format_drm_information.format_name }} off
Read Aloud
  • {{ read_aloud_information.format_name }} on {{ read_aloud_information.format_name }} off
  •  >