Calpers lawsuit to test rating agency liability on SIV defaults

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A lawsuit filed by the California Public Employees' Retirement System (Calpers) against rating agencies over "wildly inaccurate" ratings of now-defunct structured investment vehicles (SIVs) has the potential to become a landmark case, litigators have said.

On July 9, attorneys for Calpers, the largest public pension fund in the US, filed suit at the Superior Court of California against Moody's Investors Services, the McGraw Hill Companies - parent of Standard & Poor's - and Fitch Ratings over

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Credit risk & modelling – Special report 2021

This Risk special report provides an insight on the challenges facing banks in measuring and mitigating credit risk in the current environment, and the strategies they are deploying to adapt to a more stringent regulatory approach.

The wild world of credit models

The Covid-19 pandemic has induced a kind of schizophrenia in loan-loss models. When the pandemic hit, banks overprovisioned for credit losses on the assumption that the economy would head south. But when government stimulus packages put wads of cash in…

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