Tuesday, February 16, 2010
Standard and Poor’s will begin using an identifier to distinguish between their ratings on structured finance products and other ratings… this is a good step forward for the markets… (H/T Credit Risk Chronicles)
~~~”As market participants will be aware, under the European Regulation on Credit Rating Agencies (Regulation (EC) No 1060/2009) in force from December 2009 (the [...]
Thursday, February 11, 2010
From Jesse’s Cafe a useful view into the relative contribution of states to GDP…
Who will backstop California?
Wednesday, February 3, 2010
From a recently published academic paper: “Populist Retribution and International Competition in Financial Services Regulation”
Adam C. Pritchard
University of Michigan Law School
~~~ “… The bottom line for Roosevelt was that populist anger against the bankers provided him with the political capital he needed to fundamentally reshape the financial sector in the United States.
Roosevelt succeeded in breaking [...]
Tuesday, November 3, 2009
** FREEDOM FOR FINANCIAL MARKETS **
PUBLIC DOMAIN DEDICATION AND TERMS
Public Domain Dedication. Bloomberg Finance L.P., a limited partnership organized and existing under the laws of the State of Delaware with offices at 731 Lexington Avenue, New York, New York 10022 (”Bloomberg”), hereby dedicates BSYM Identifiers to the public domain and makes BSYM Identifiers available to [...]
Filed in Creativity, Launching..., Liquidity, Open engines, Pricing, Recession busters..., Regulatory, Restructuring, Trading, Transparency
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Also tagged Bloomberg, CUSIP, SEC, securities, Wall Street
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XBRL and Credit Ratings
View more presentations from catelong.
This is a short presentation that I gave at the W3C and XBRL conference at the FDIC… it is very general because I gave it to a mixed audience of technologists and regulators. I’ll be putting up a concept piece done to create semantic mapping for the entity [...]
Friday, September 18, 2009
The SEC approved additional rules for credit rating agencies yesterday.
This follows on numerous rulemakings over the past several years…
Kudos to the Commission and staff for their effort to shape rules for this space.
Credit rating agencies lie at the nexus of credit markets. Their “opinions” determine pricing and credit availability for all rated entities.
Central to the credit [...]
Reuters reports about the Federal Reserve opening the pool of ratings they will use for the TALF program to include two small, investor paid NRSROs (DBRS and Realpoint)… and the reporter gets to the real underlying issue…. which is the issuer doing selective disclosure… or the right of issuers to share the underwriting details with [...]
Wednesday, April 29, 2009
~~~~”McDaniel this month defended the credit raters’ issuer-pay model at an SEC roundtable in Washington, saying that investors can pressure ratings companies just as easily as underwriters….”*~~~~
This will become the central argument in defense of the “issuer pay” model for credit ratings agencies….
The SEC receives information from credit rating agencies as part of its Form [...]
Filed in Launching..., Open engines, Regulatory, Restructuring, Transparency
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Also tagged ABS, Bear, BofA, CDO, Citi, Congress, dealers, Fitch, Goldman Sachs, JP Morgan, Lehman, MBS, Merrill, Moodys, Morgan Stanley, ratings, S&P, SEC
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Source:
BestWire Services
~~~~ “Some insurers increasingly are concerned about a National Association of Insurance Commissioners’ initiative to establish its own rating entity, fearing they could be saddled with high start-up costs and be subject to decisions made by combined regulator-raters with their own conflicts of interest.
The NAIC concluded its national meeting in March with charges to [...]