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Vol 21 No 11 Nov/Dec 2016

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The Law and Regulation of Credit Rating Agencies in the EU and US

Publication abandoned lge

ISBN13: 9781780432007
Publisher: Bloomsbury Professional
Country of Publication: UK
Format: Paperback
Price: Publication Abandoned



Credit Rating Agencies: Law and Regulation in the EU and US is a practical book that sets out and compares and contrasts the EU and US regulatory responses to Credit Rating Agencies (CRAs). It takes into account very recent regulatory initiatives and simultaneously drawing matters of interest to practitioners regarding the practice of CRAs as well as the wider implications of CRA regulations to the financial services market.

It will provide an outline of what CRAs actually do and serve as a practical, comprehensive desk top reference for those working directly in the financial services sector internationally.

Publication abandoned lge
Subjects:
Banking and Finance
Contents:
Introduction: How and Where It All began
Book Chapters
The Practice of Credit Ratings: Why Credit Ratings
Types of Credit Ratings
Reading Credit Rating Scales
The Credit Ratings Market
The Three Dominant Global CRAs and the Implications of Market Concentration
The Rating Process: Best Practices and Problems
The Regulatory Environment: The Free Market Era
Nature and Characteristics of the IOSCO Code
The Pros and Cons of Using the IOSCO Code
The Dawn of Co-Regulation: Enron 2002 and the Rise of Co-Regulation in the US
Co-Regulation in the US (IOSCO Code and US CRA 2006)
Co-Regulation in the EU (IOSCO Code and EU 2009 Act)
What is the Difference?
The Rise of Enhanced Regulation: The Links of CRAs to the 2007/08GFC: Blameworthiness
US Regulatory Response: The 2010 Dodd-Frank Act on CRAs
The Links of CRAs to the 2011/12 European Financial Crisis (EFC)
EU Regulatory Response: 2010 Amendments to 2009 EU Act and 2011 EU Commission's Proposals
What is the Difference?
CRA Regulatory Developments: Insights and Lessons from the US Experience
Insights and Lessons from the EU Experience
Potential for Cross-Fertilisation of Experiences
Conclusions: From Vanilla Bond Ratings to Complex Financial Products' Ratings and Sovereign Credit
Ratings
From Competition to Conflicts of Interest
From Hands-Off Approach to Focused Regulatory Intervention
What of the Future of Regulatory Intervention in the US and the EU?