Moody’s Investors Service

Changes afoot at rating agencies

Rating agencies are under fire once again, this time for failing to anticipate Enron’s bankruptcy. But they are looking to improve their methodology. What do the changes mean for banks that will have to rely on their ratings under Basel II?

Moody's launches LossCalc

Moody’s Risk Management Services (MRMS) claims that its latest product, LossCalc, is the first risk management tool to predict loss-given default (LGD) for investors in the event of a company’s bankruptcy.

Defaults hit new record levels, says Moody’s

International rating agency Moody’s said that credit losses due to defaults reached record levels in 2001, as loss rates on speculative-grade defaulted bonds surged and recovery rates on the defaulted bonds plummeted for the third straight year.

Building for Basel

The 2005 implementation date for the new Basel II Accord – already postponed by a year – is looming large. Whilst the banking sector is steadily gearing up for the proposed changes, there are fears that some institutions may be left behind.

ING Barings debuts with synthetic CDO in Asia

ING Barings, the investment banking arm of Dutch bancassurer ING, has arranged what it claims to be the first arbitrage synthetic collateralised debt obligation (CDO) transaction managed by a portfolio manager in Asia, in an attempt to cater to the…

McDaniel to head of Moody's investor services

International rating agency Moody's has made Raymond McDaniel president of Moody's investors service. He will manage Moody's global ratings and research businesses following a 14-year tenure with the firm.

WTC-hit derivatives houses maintain ratings

International rating agency Moody’s has confirmed the ratings on five derivatives firms, following initial concern that the houses, all located in or near the World Trade Center, would be adversely affected by the terrorist attacks of 11 September.

Preparing for the worst

Small and medium-sized banks in the US and Europe are bracing themselves for Basel II. Gallagher Polyn examines how these institutions plan to adapt to the new Accord.

Unleashing Asia’s demons

The Basel Committee’s new consultative paper on capital adequacy could wreak havoc with Asia’s domestic banks. The revamped rules will make the shortcomings of their risk management systems all too clear.

Unleashing Asia's demons

The Basel Committee’s new consultative paper on capital adequacy could wreak havoc with Asia’s domestic banks. The revamped rules will make the shortcomings of their risk management systems all too clear.

Documentation dilemmas

Concerns over credit event definitions and the Basel Committee’s ‘ w ’ capital charge on credit mitigation instruments will not be easily resolved.

A lot of loose ends and not much time

There's little surprise, but reactions still range from cautious approval to outright hostility. And all sides agree that some very big loose ends remain to be tied up on a very tight schedule.

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