Credit Rating Agencies: No Easy Regulatory Solutions
Jonathan G. Katz
U.S. Securities and Exchange Commission
Emanuel Salinas Munoz
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
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: G28Accepted Paper Series
Date posted: October 9, 2009
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo3 in 0.625 seconds