Both an increase in credit rating upgrades and a decrease in credit rating downgrades last quarter markedly slowed the rate of decline in global credit quality, according to Moody’s. Rating reviews and outlooks taken generally also suggest that we are entering a period of relative ratings stability, said the ratings agency. For the quarter just ended, downgrades outpaced upgrades by a ratio of 1.3 to 1, down from the 2.1 to 1 rate of the previous quarter and the 4.3 to 1 pace during the fourth quarter of 2002. Last quarter saw both the portion of issuers downgraded fall, from 3.9 per cent in the third quarter to 3.4 per cent, and the percentage of upgrades rise, from 1.9 per cent in the third quarter to 2.7 per cent. ‘The improvement in the composition of rating actions last quarter took place predominately outside the United States and Canada,’ noted Moody’s analyst Hong Sherwin. ‘The pace of credit downgrades in the US and Canada actually picked up, from 1.9 per cent to 2.7 per cent of all issuers, while the pace of those upgraded rose only marginally, from 1.5 per cent to 1.7 per cent. Meanwhile, the percentage of issuers in Europe downgraded last quarter dropped from 4.5 per cent to 2.5 per cent. When the US and Canada are excluded, upgrades outpaced downgrades by 2 to 1 last quarter.’
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more