推动市场的三个字母:市场信息和法律监管之间的信用评级

ERN: Regulation of Financial Markets (Topic) Pub Date : 2011-07-09 DOI:10.31228/osf.io/97nq3

Ulrich G. Schroeter

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引用次数: 7

摘要

正如市场对2011年各种主权信用评级下调的反应所表明的那样，信用评级机构在当今全球化的金融市场中占有重要地位。本文概述了信用评级的核心特征，并讨论了它们作为市场信息的广泛使用以及法律、法规和私人合同中越来越多地引用信用评级所产生的风险。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Three Letters that Move the Markets: Credit Ratings between Market Information and Legal Regulation

As demonstrated by the market reactions to downgrades of various sovereign credit ratings in 2011, the credit rating agencies occupy an important role in today’s globalized financial markets. This article provides an overview of the central characteristics of credit ratings and discusses risks arising from both their widespread use as market information and from the increasing references to credit ratings contained in laws, legal regulations and private contracts.

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ERN: Regulation of Financial Markets (Topic)

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