Abstract

http://ssrn.com/abstract=1485140
 
 

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Credit Rating Agencies: No Easy Regulatory Solutions


Jonathan G. Katz


U.S. Securities and Exchange Commission

Emanuel Salinas Munoz


World Bank

Constantinos Stephanou


BIS/Financial Stability Board; World Bank

October 6, 2009

The World Bank Group, Financial and Private Sector Development Vice Presidency, Crisis Response Policy Brief 8

Abstract:     
In the United States and Europe faulty credit ratings and flawed rating processes are widely perceived as being among the key contributors to the global financial crisis. That has brought them under intense scrutiny and led to proposals for radical reforms. The ongoing debate, while centered in major developed markets, will also influence policy choices in emerging economies: Whether to focus on strengthening the reliability of ratings or on creating alternative mechanisms and institutions that can perform more effectively the role that in developed markets has traditionally been conferred on credit rating agencies.

Number of Pages in PDF File: 8

Keywords: credit rating, rating agencies, financial regulation, financial crisis

JEL Classification: G28

Accepted Paper Series


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Date posted: October 9, 2009  

Suggested Citation

Katz, Jonathan G. and Munoz, Emanuel Salinas and Stephanou, Constantinos, Credit Rating Agencies: No Easy Regulatory Solutions (October 6, 2009). The World Bank Group, Financial and Private Sector Development Vice Presidency, Crisis Response Policy Brief 8. Available at SSRN: http://ssrn.com/abstract=1485140

Contact Information

Jonathan G. Katz
U.S. Securities and Exchange Commission ( email )
9106 Drumaldry Drive
Bethesda, MD 20817
United States
301 466 6209 (Phone)
Emanuel Salinas Munoz
World Bank ( email )
1818 H Street, NW
Washington, DC 20433
United States
Constantinos Stephanou (Contact Author)
BIS/Financial Stability Board ( email )
Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland
World Bank ( email )
1818 H Street, N.W.
Washington, DC 20433
United States
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