The new outlook reflects ongoing concern about the indstry’s expanding equity market exposure
But Fitch cautions that the transition to the universal banking model has not been an automatic success for other investment banks
Credit quality tumbles among North American and European financial institutions
Recommends SEC focus on improving ratings process
The U.S. Securities Industry and Financial Markets Association Credit Rating Agency Task Force issued its recommendations for credit rating agency reform today.The task force, comprised of 37 individuals from the United States, Europe, and Asia, including asset managers, underwriters, and issuers, focused on identifying the credit-rating-related causal variables that played a significant role in triggering […]
Task force to submit its final recommendations in September
Affirms ratings on three other big Wall Street investment banks
The U.S. Securities and Exchange Commission has released a report detailing weaknesses it uncovered in examinations of the three major credit rating agencies.The SEC examined Fitch Ratings Ltd., Moody’s Investor Services Inc., and Standard & Poor’s Ratings Services to evaluate whether they are adhering to their published methodologies for determining ratings and managing conflicts of […]
Default rates forecast to move up sharply this year
The U.S. Securities and Exchange Commission has published for public comment proposed rule changes to make the limits and purposes of credit ratings clear to investors and ensure that the role assigned to ratings in SEC rules is consistent with the objectives of having investors make an independent judgment of credit risks.The commission voted unanimously […]