Rating agency says that it is now comfortable with bank’s measures to improve management of trading risks
But the banks have the flexibility to ride out a prolonged period of illiquidity
But firms have sufficient capacity to absorb potential mark-to-market losses in the near term, the ratings agency says
Assets under management reach US$2.7 trillion
New SEC rules require agencies to reapply for NRSRO designation
Ratings upgrades especially strong among global banking and finance companies
Report examines 1,768 banks in 101 countries
Ratings of all outstanding public and private asset managers converted to reflect the new scale
Fitch Ratins saygs the new rules remove regulatory barriers to entry and will bring change to the competitive landscape of the industry
Migration data reveal substantial rating stability, Fitch says