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30 June 2015

IOSCO(証券監督者国際機構)理事会、CRA(信用格付け機関)による通常の信用格付け以外の商品・サービスに関する情報収集プロジェクトを承認


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The Board of the International Organization of Securities Commissions has approved a project specification for its Committee 6 on Credit Rating Agencies to gain a better understanding of the credit rating industry and in particular of certain other products or services.


 The information collected through this exercise will serve to inform discussions between C6 members, issuers and users of Other CRA Products and other interested parties.

Other CRA Products are distinguishable from the traditional credit ratings that CRAs publicly disclose or disseminate to subscribers. They may include, for example, private ratings, confidential ratings, expected ratings, indicative ratings, prospective ratings, provisional ratings, preliminary ratings, one-time ratings, regional ratings, national ratings, point-in-time ratings, scoring, credit default swap spreads, bond indexes, portfolio assessment tools, credit assessments, rating assessments, assessments, fund ratings, data feeds or research or other tools which may be used for a person’s or organization’s own risk assessments (for example, quantitative models and enterprise risk solutions software).

Market participants may use Other CRA Products to help assess the creditworthiness of an entity or obligation. Or they may be used for different purposes: for example, they may be used to understand the impact that a hypothetical or proposed transaction would have on a traditional credit rating or to understand how a CRA would ultimately rate a new issuance, or as part of their internal risk assessment analysis.

Full press release



© IOSCO


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