Rating agency 'young pretenders' aim to challenge Big Three

A new breed of ratings providers have emerged in recent months, intent on muscling in on the territory of Fitch, Moody’s and S&P. Credit talks to two of the new entrants, Morningstar and Realpoint, to see how they differ from what is already available.

Even before the financial crisis dented the reputation of credit rating agencies, regulators had identified increasing competition in the industry as a key policy goal. The US Credit Rating Agency Reform Act of 2006, for example, stated: “The two

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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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