Credit rating agency failures continue despite EU reforms, paper finds

Bond issuers are still “shopping” for good ratings, ECB paper says

European Central Bank

European Union regulations have reduced some failures in credit ratings’ agencies’ assessment of securities, but not all, a research paper finds.

In The impact of regulatory changes on rating behaviour, published by the European Central Bank (ECB), Nodirbek Karimov, Alper Kara, Gareth Downing and David Marques-Ibanez examine conflicts of interest between ratings agencies and issuers of securities.

The authors look at a sample of 12,469 tranches of asset-backed securities, or ABS, issued between

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account