| Description |
1 online resource. |
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text file |
| Series |
Nijhoff international trade law series ; volume 15
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Nijhoff international trade law series ; volume 15.
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| Bibliography |
Includes bibliographical references and index. |
| Contents |
Credit Ratings and Market Over-reliance: An International Legal Analysis; Copyright; Contents; Foreword; Preface; List of Abbreviations; 1 Reliance Versus Over-reliance; 1.1 Contextual Setting; 1.2 A Holistic Study of Over-reliance; 1.3 Book Structure; 2 The 'Good' Aspects of Credit Ratings: A Basis for Reliance; Introduction; 2.1 The Importance of Credit Ratings in the Financial Markets: The Reliance of the Private Sector; 2.1.1 The Credit Rating Industry: Origins and Development; 2.1.2 Credit Ratings: Categories and Formation Process; 2.1.3 Credit Ratings as Opinions on Creditworthiness. |
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2.1.4 CRA Informational Services2.1.5 The CRA Monitoring Services: Outlook and Watch-list Procedures; 2.1.6 Users of CRA Services; 2.2 The Public Sector's Reliance on Credit Ratings; 2.2.1 CRAs as Certification Providers; 2.2.2 Clarifying the Certification Function of CRAs; 2.2.3 Understanding the Regulatory Reliance on Credit Ratings; 2.2.4 Mapping the Regulatory Use of Credit Ratings; Concluding Remarks; 3 Reliance Versus Influence: A Roadmap toward the Risk of Over-reliance; Introduction; 3.1 Negative Effects of Rating Changes and the Role of Ratings-based Regulation. |
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3.1.1 Downgrades, Rating Triggers and Liquidity Problems3.1.2 Cliff-Edge Effects and Herd Behaviours; 3.1.3 Systemic Risk and Spill-over Effects Across Markets; 3.1.4 Ratings-based Regulation and Its Implications: A Critical Review; Concluding Remarks; 4 Over-reliance on External Credit Ratings: In Search of a Meaning; Introduction; 4.1 Understanding Over-reliance on Credit Ratings; 4.1.1 Detecting the Phenomenon: Over-reliance in the US Pre-crisis Regulatory Debate on CRAs; 4.1.2 Over-reliance in the EU Pre-crisis Regulatory Debate on CRAs. |
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4.1.3 The Sources of Over-reliance: Ratings-based Regulation Versus the Structured Finance Sector4.1.4 Closing the Gap: Defining Over-reliance on External Credit Ratings; Concluding Remarks; 5 Regulatory Approaches at the National, International and Regional Levels to Address Over-reliance on Credit Ratings; Introduction; 5.1 The Evolution of the Regulatory Debate; 5.1.1 US Level: Section 939A of the Dodd-Frank Act: Reliance Versus Over-reliance; 5.1.2 The FSB Principles for Reducing Reliance on Credit Ratings: Searching for Over-reliance. |
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5.1.3 The European CRA Regulation III: Confirming Over-relianceConcluding Remarks; 6 Regulatory Approaches against Over-reliance and Their Implementation; Introduction; 6.1 In Search of Effectiveness; 6.1.1 Normative Approaches in Focus; 6.1.2 Implementation Process in Focus; 6.2 The Status of the US Reforms under Section 939A of the Dodd-Frank Act; 6.2.1 The Early Debate on Section 939A; 6.2.2 US Federal Agencies Reform Processes; 6.2.3 The US Reforms: A Critical Review in Relation to the Risk of Over-reliance; 6.3 The Status of the EU Reforms under the CRA Regulation III. |
| Summary |
Taking position from the recent 2007-2009 financial crisis, 'Credit Ratings and Market Over-reliance: An International Legal Analysis' by Francesco De Pascalis provides an in depth legal and regulatory analysis of the concept of over-reliance in the use of ratings and how regulation facilitates over-reliance is different from mere reliance on credit ratings. Not only does the book provide an incisive doctrinal analysis of the concept of over-reliance, it also considers over-reliance from a comparative and international perspective by reviewing legal and regulatory developments under European Union and US law and how over-reliance has been addressed in international financial regulation. |
| Local Note |
eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - North America |
| Subject |
Rating agencies (Finance) -- Law and legislation.
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Rating agencies (Finance) -- Law and legislation. |
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Trade regulation.
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Trade regulation. |
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Foreign trade regulation.
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Foreign trade regulation. |
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LAW -- Administrative Law & Regulatory Practice. |
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Creditors. |
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International commercial law. |
| Genre/Form |
Electronic books.
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| Other Form: |
Print version: De Pascalis, Francesco. Credit ratings and market over-reliance. Leiden : Brill Nijhoff, 2017 9789004341845 (DLC) 2017020799 |
| ISBN |
9004341854 (E-Book) |
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9789004341852 (electronic book) |
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9789004341845 (hardback ; alkaline paper) |
| Standard No. |
10.1163/9789004341852 |
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