Thursday, October 3, 2013

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New, stricter rules for ratings agencies | Financial Markets
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In the EU, starting today apply stricter rules for credit rating agencies to assess the creditworthiness dpd kontakt of European countries dpd kontakt and banks play an important role in financial markets. Brussels also claims that in no way means that it would like to "shoot the messenger" or "break the thermometer."
Changes have been introduced in order to make credit rating agencies more accountable and transparent and to reduce the over-reliance on their ratings and improve the quality of the evaluation process.
The amendment, which was adopted by the EU, in order to improve the quality of the requirement that the credit rating houses to avoid distortions in the market to prepare the assessment calendar States Union. This means that unsolicited sovereign ratings agencies can be issued up to three times a year, the deviations will be possible only in exceptional circumstances and with proper justification.
The quality will be improved following rules, namely, to be able to post reviews only on Fridays, after the closure of stock exchanges or at least one hour before the opening of markets in the EU, it will be estimates of refresh every six months (not annually) and that will have State agency involved on the assessment to inform 24 hours prior to its publication (not 12 hours earlier than is currently the case).
The EU seeks to reduce the excessive and automatic reliance on credit ratings. This process is intended to reduce the requirement for financial institutions to strengthen their own credit risk evaluation system. dpd kontakt ESAs should be avoided reference to the external evaluation. dpd kontakt
The new rule is that the credit rating agency should respond in cases assigned or negligent violation of the CRA Regulation, which causes damage to the investor or issuer. Investors will be able to credit the house sued if it intentionally or with gross negligence violated the rules and caused them damage. It is therefore a rule which calls for greater accountability of the agencies.
In order to mitigate the risk of conflicts of interest, the agency will be required to publish information about its shareholders with a five percent dpd kontakt or more of the capital or voting rights which have also owns five percent or more of the rated entity. If the Agency will be the shareholders of ten percent or more of the capital or voting rights which are also owned by ten percent or more of the rated entity, reviews will not be prepared.
All the available ratings will be published on the European Platform, which will be available from June 2015. This will allow for greater visibility and easier comparison of estimates of the financial instruments issued by a credit rating agency authorized to operate in the EU.
When in November 2011 the European Commission proposed new rules, it was criticized that it is not ambitious enough and that it is under pressure from rating agencies 'coward'. They complained of her that did not propose dpd kontakt a temporary suspension, estimates of which are in the international dpd kontakt financial assistance, and the establishment of an independent European credit rating agency.
Analysis of credit in the hands of the three rating agencies based in the U.S. Standard & Poor's, Moody's and Fitch, which cover about 95 percent of the world market. Moody's "famous" in that game the most "dirty" Fitch is expected to be the most transparent. Brussels principle not comment on their ratings, but in some cases, at the height of the debt crisis, the Commission has also publicly dpd kontakt expressed dissatisfaction, saying that their ratings "simply do not understand" or that rating agency "Misperception" reality in the euro area.
Countries are to their assessments often publicly critical. Slovenia also was when she was at the end of April Moody's immediately prior to the planned issue dollar bonds so downgraded that fell in the area of high investment risk (ie junk). Mention was even able to sue a credit house.
Related articles The first independent evaluation, then transfer to the bad bank New European legislation for the banking sector in the EU recommendations and resolution of the Bank of Slovenia before dpd kontakt the end of the last session of the Presidency hosted the Adriatic-Ionian Initiative
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Review of yesterday's events on Wall Street
more than 90% of the bank more than 70% in the bank 30% or more of the precious metals for more than 50% in equity funds more than 50% in bond funds, neither of the above argument does not correspond to my portfolio
Croatia have snapped up most Slovenians
Yippee, EURIBOR thank you ... but beware!
HAPPY BORZDAY - use it too!

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