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Securitization: Lessons Learned and the Road Ahead

Securitization: Lessons Learned and the Road Ahead »

Source: Securitization : Lessons Learned and the Road Ahead

Volume/Issue: 2013/255

Series: IMF Working Papers

Author(s): Miguel Segoviano Basurto , Bradley Jones , Peter Lindner , and Johannes Blankenheim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 December 2013

ISBN: 9781475541946

Keywords: Finance, ntermediation, Bank, Mortgages, and Foreclosures, Institutional Investors, Investment Banking, Rating, Rating Agencies, Regulation

This paper examines the financial stability implications arising from securitization markets, with one eye on the past and another on the future. The paper begins by deriving a number of 'lessons learned' based on...

Using Credit Ratings for Capital Requirementson Lending to Emerging Market Economies

Using Credit Ratings for Capital Requirementson Lending to Emerging Market Economies »

Source: Using Credit Ratings for Capital Requirementson Lending to Emerging Market Economies : Possible Impact of a New Basel Accord

Volume/Issue: 2000/69

Series: IMF Working Papers

Author(s): Christian Mulder , and Brieuc Monfort

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2000

ISBN: 9781451849059

Keywords: Rating agencies, capital requirements, economic crises, crisis index, credit ratings, asian crisis

The Basel Committee on Banking Supervision has proposed linking capital requirements for bank loans to ratings by commercial credit rating agencies. Estimates for 20 emerging market economies show that sovereign ra...

Determinants of Investment Grade Status in Emerging Markets

Determinants of Investment Grade Status in Emerging Markets »

Source: Determinants of Investment Grade Status in Emerging Markets

Volume/Issue: 2010/117

Series: IMF Working Papers

Author(s): Laura Jaramillo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2010

ISBN: 9781455200764

Keywords: Credit Ratings, Rating Agencies, external public debt, external debt, domestic public debt, private external debt

Emerging market countries seek investment grade status to lower financing costs for the sovereign, expand the pool of potential investors to institutional investors, and allow corporates the possibility of reducing...

Sovereign Rating News and Financial Markets Spillovers

Sovereign Rating News and Financial Markets Spillovers »

Source: Sovereign Rating News and Financial Markets Spillovers : Evidence from the European Debt Crisis

Volume/Issue: 2011/68

Series: IMF Working Papers

Author(s): Bertrand Candelon , Amadou Sy , and Rabah Arezki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

ISBN: 9781455227112

Keywords: News, stock market, credit rating, credit rating agencies, bond, Financial Aspects of Economic Integration,

This paper examines the spillover effects of sovereign rating news on European financial markets during the period 2007-2010. Our main finding is that sovereign rating downgrades have statistically and economically...

The Systemic Regulation of Credit Rating Agencies and Rated Markets

The Systemic Regulation of Credit Rating Agencies and Rated Markets »

Source: The Systemic Regulation of Credit Rating Agencies and Rated Markets

Volume/Issue: 2009/129

Series: IMF Working Papers

Author(s): Amadou Sy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2009

ISBN: 9781451872767

Keywords: Rating agencies, structured credit products, macro-prudential, micro-prudential, regulation, procylicality, credit ratings, financial stability, money market,

Credit ratings have contributed to the current financial crisis. Proposals to regulate credit rating agencies focus on micro-prudential issues and aim at reducing conflicts of interest and increasing transparency a...

Are Rating Agencies Powerful? An Investigation Into the Impact and Accuracy of Sovereign Ratings

Are Rating Agencies Powerful? An Investigation Into the Impact and Accuracy of Sovereign Ratings »

Source: Are Rating Agencies Powerful? An Investigation Into the Impact and Accuracy of Sovereign Ratings

Volume/Issue: 2012/23

Series: IMF Working Papers

Author(s): John Kiff , Sylwia Nowak , and Liliana Schumacher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

ISBN: 9781463931858

Keywords: Sovereign ratings, rating agencies, credit ratings, asian crisis, emerging markets, An Investigation into the Impact and Accuracy of Sovereign Ratings, Financial Institutions and Services: General, Corporate Finance and Governance: Government Policy and Regulation,

We find that Credit Rating Agencies (CRA)'s opinions have an impact in the cost of funding of sovereign issuers and consequently ratings are a concern for financial stability. While ratings produced by the major CR...

Sovereign Ceilings 'Lite'? The Impact of Sovereign Ratings on Corporate Ratings in Emerging Market Economies*

Sovereign Ceilings 'Lite'? The Impact of Sovereign Ratings on Corporate Ratings in Emerging Market Economies* »

Source: Sovereign Ceilings 'Lite'? The Impact of Sovereign Ratings on Corporate Ratings in Emerging Market Economies

Volume/Issue: 2007/75

Series: IMF Working Papers

Author(s): Eduardo Borensztein , Patricio Valenzuela , and Kevin Cowan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2007

ISBN: 9781451866391

Keywords: credit rating, sovereign default, credit rating agencies, current account, external debt, General Financial Markets, Financial Institutions And Services, Corporate Finance And Governance,

Although credit rating agencies have gradually moved away from a policy of never rating a private borrower above the sovereign (the "sovereign ceiling") it appears that sovereign ratings remain a significant determ...

Sovereign Credit Ratings and Spreads in Emerging Markets

Sovereign Credit Ratings and Spreads in Emerging Markets »

Source: Sovereign Credit Ratings and Spreads in Emerging Markets : Does Investment Grade Matter?

Volume/Issue: 2011/44

Series: IMF Working Papers

Author(s): Laura Jaramillo , and Michelle Tejada

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

ISBN: 9781455218981

Keywords: Rating Agencies, public debt, external public debt, standard deviation, external debt, standard errors, Financial Markets and the Macroeconomy, International Finance: General, International Lending and Debt Problems,

Sovereign investment grade status is often associated with lower spreads in international markets. Using a panel framework for 35 emerging markets between 1997 and 2010, thispaper finds that investment grade status...

Guidelines for Investing PRG, PRG-HIPC, and CCR Trusts Assets

Guidelines for Investing PRG, PRG-HIPC, and CCR Trusts Assets »

Source: Guidelines for Investing PRG, PRG-HIPC, and CCR Trusts Assets

Volume/Issue: 2017/037

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 July 2017

ISBN: 9781498346429

Keywords: Heavily indebted poor countries, Financial institutions, Investment policy, Central banks, Credit rating agencies, investment asset, manage director, SDR, asset manager, investment objective

On March 22, 2017, the Executive Board adopted the Guidelines for Investing PRG, PRG-HIPC, and CCR Trust Assets (the 'Guidelines') to establish the investment objectives and policies to guide the investment of asse...

Securitization
			: Lessons Learned and the Road Ahead

Securitization : Lessons Learned and the Road Ahead »

Volume/Issue: 2013/255

Series: IMF Working Papers

Author(s): Miguel Segoviano Basurto , Bradley Jones , Peter Lindner , and Johannes Blankenheim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 December 2013

DOI: http://dx.doi.org/10.5089/9781475541946.001

ISBN: 9781475541946

Keywords: Finance, ntermediation, Bank, Mortgages, and Foreclosures, Institutional Investors, Investment Banking, Rating, Rating Agencies, Regulation

This paper examines the financial stability implications arising from securitization markets, with one eye on the past and another on the future. The paper begins by deriving a number of 'lessons learned' based on...