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Title :Bank credit ratings and macro prudential indications
Creator :Λημναίος, Γεώργιος
Contributor :Παγκράτης, Σπυρίδων (Επιβλέπων καθηγητής)
Athens University of Economics and Business, Department of Accounting and Finance (Degree granting institution)
Type :Text
Extent :100p.
Language :en
Abstract :Credit rating agencies (CRA‟s) play a key role in the financial system and in the debt markets of many countries. CRA‟s have also attracted a significant amount of public and policy attention from the beginning of the banking crisis in 2008. This thesis will procure an overview of the credit rating agencies: Who are they? How they do it? What alterations have been made in their methodologies after the global financial crisis? Much of the focus of this thesis will be on the three larger CRA‟s: Moody's, Fitch Ratings and Standard & Poor's and specific to the bank ratings. Also, we investigate the implications of rating agencies to financial firms and we present the reasons why the ratings of banks are extremely significant for the proper functioning of the financial system. The remainder of this study describes the rating methodologies of the three big credit rating agencies and analyzes the changes that they made in their bank rating methodologies after the recent global financial crisis. Moreover we present the macro prudential issues and the issue of procyclicality, investigating a possible connection with CRA‟s. Finally, we zoom in on the question of whether new Moody's bank rating methodology can resolve some of the concerns and especially if Moody's rate banks on macro prudential prudent way.
Subject :Credit Rating Agencies (CRA)
Moody
Fitch Ratings
Standard & Poor
Macro prudential indications
Date :28-02-2017
Licence :

File: limnaios_2017.pdf

Type: application/pdf