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 […]
2007’s default count of two was relatively low
Default rate expected to return to the long-term average of about 4.6%
Many fixed income investors need additional information on structured finance instruments
Rating agencies would differentiate ratings they issue on structured products from those they issue on bonds
Agencies will overhaul the way they collect fees, and improve their process for rating mortgage-backed securities