Ratings agencies
US banks at risk of downgrade following Dodd-Frank
Credit rating agency Moody’s launches review of eight banks’ ratings after legislation makes uncertain implicit promise of government support in event of failure
Fitch downgrades Cyprus over threat of Greek contagion
Fitch downgrades Cyprus three notches to A- amid concerns over Cypriot banking sector’s exposure to Greece
BoE’s Tucker slams regulators over rating agency failures
Bank of England deputy governor Paul Tucker says mechanistic reliance on rating agencies was a great mistake
S&P places Italy on negative outlook
Standard & Poor's places Italy’s long-term credit rating on negative outlook; analysts say downgrade not expected in near term
SEC approves credit rating agency reforms
Securities and Exchange Commission unanimously votes in rules and amendments for greater transparency of credit rating agencies' operations
Credit rating agencies slam sovereign warning proposal
EU Commission proposal for credit rating agencies to give sovereigns three days’ notice of a rating change causes “grave concerns”
S&P lowers Greece rating
Credit rating agency lowers Greece sovereign ratings; believes eurozone official creditors “may see a restructuring of official and commercial debt as the best way forward”
S&P puts Japan on negative outlook
Standard and Poor’s places Japan’s long-term credit rating on negative outlook; Bank of Japan governor Masaaki Shirakawa forecasts economy will contract in first two quarters
Hong Kong plans to regulate credit-rating agencies
Hong Kong announces it will begin regulating credit-rating agencies from June; agencies and analysts must apply for licences
Standard & Poor's changes US outlook to negative
Ratings agency cites growing deficit and debt as rationale behind the change
Risk Europe: S&P slammed for linking Greece, Portugal downgrades to ESM
Eurozone bail-out vehicle doesn't hurt existing bondholders, EC official argues
Moody’s downgrades Portugal again
Moody’s cuts Portugal’s credit rating by one notch to Baa1 as political uncertainty continues to cloud medium-term financing
IMF paper urges policymakers to address sovereign rating spillovers
Policymakers must account for risks posed by spillover effects of sovereign rating downgrades; contingency plan recommended to deal with possible instability
BoE paper on systemic threat of credit rating agencies
Bank of England study says regulatory reforms should reduce reliance on credit rating agencies
OpRisk USA: Dodd-Frank clouds Basel III implementation
Requirement to remove credit ratings causing a headache for regulators
S&P downgrades Bahrain
Standard and Poor’s downgrades Bahrain’s credit rating two notches to BBB amid continued political unrest
Moody’s Portugal downgrade sparks further speculation of bailout
Moody’s cuts Portugal’s credit rating by two notches to A3 on weaker growth prospects; analyst says bailout expected in coming months
S&P unconvinced by resolution regimes
Rating agency says sovereigns will continue to bail out banks
Investment grade status provides premium: IMF paper
Fund study shows upgrade to investment grade status leads to sharp decline in sovereign spreads
ECB rejects public credit rating agency role
European Central Bank says European Commission should abandon proposals for Eurosystem to issue credit ratings to public
SEC moves to cut ratings out of registration requirements
US Securities and Exchange Commission proposes rule striking investment-grade rating condition from short-form registration process for companies issuing securities; move mandated by Dodd-Frank
S&P downgrades Japan
Standard and Poor's downgrades Japan by one notch to AA– on fears that aging population places greater fiscal burden on Tokyo
US economists push for ethical code
Academics and practitioners call on American Economic Association to adopt code forcing economists to reveal links to private firms
Forecasting ability fails to justify rating agencies’ power grab
Rating agencies forecasts “not particularly outstanding” during decades following the Great Depression, Bank for International Settlements paper finds