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"Credit reporting is a critical part of the financial system in most developed economies but is often weak or absent in developing countries. It addresses a fundamental problem of credit markets: asymmetric information between borrowers and lenders that can lead to adverse selection and moral hazard. The heart of a credit report is the record it provides of an individual's or a firm's payment history, which enables lenders to evaluate credit risk more accurately and lower loan processing time and costs. Credit reports also strengthen borrower discipline, since nonpayment with one institution results in sanctions with others." "This book provides the first comprehensive review of credit reporting systems worldwide and documents the rapid growth in the industry. It offers empirical and theoretical evidence of the impact of credit reporting on financial markets, using examples from both developed and developing economies. Credit reporting, it shows, significantly contributes to predicting default risk of potential borrowers, which promotes increased lending activity. The book also covers the role of public policy in the development of credit reporting initiatives, including the role of public credit registries managed by central banks; and the role of legal, regulatory, and institutional factors in supporting credit reporting."--Jacket.

Credit bureaus --- Consumer credit --- Credit --- Credit information services --- Credit reporting agencies --- Mercantile agencies --- Consumer debt --- Information services

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The Independence of Credit Rating Agencies focuses on the institutional and regulatory dynamics of these agencies, asking whether their business models give them enough independence to make viable judgments without risking their own profitability. Few have closely examined the analytical methods of credit rating agencies, even though their decisions can move markets, open or close the doors to capital, and bring down governments. The 2008 financial crisis highlighted their importance and their shortcomings, especially when they misjudged the structured financial products that

Rating agencies (Finance) --- Credit ratings. --- Credit bureaus. --- Credit --- Credit information services --- Credit reporting agencies --- Mercantile agencies --- Commercial ratings --- Credit checks --- Credit guides --- Credit investigations --- Credit reports --- Ratings, Credit --- Agencies, Rating (Finance) --- Rating services (Finance) --- Financial services industry --- Information services --- AA / International- internationaal --- 333.663 --- 336.312.3 --- rating van bedrijven --- Solvabiliteit, kredietwaardigheid van de landen. Risicolanden

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This book provides the first in-depth analysis of the economics and regulation of financial privacy. It is an international comparison of credit reporting systems in the United States and in European countries. On the theoretical level the book explains competition in information markets, especially in markets for goods made of highly personal and sensitive information. It reviews the microeconomics of information and privacy and discusses the economic incentives to disclose or to conceal information. The book also focuses on the institutions of credit reporting, the history of credit reporting agencies and the regulation of privacy and credit reporting on both sides of the Atlantic as well as internationally. Finally, on the empirical level, it reviews the microeconomic and potential macroeconomic effects of credit reporting in the credit markets of countries around the world.

Credit bureaus. --- Credit ratings. --- Commercial ratings --- Credit checks --- Credit guides --- Credit investigations --- Credit reports --- Ratings, Credit --- Credit --- Credit information services --- Credit reporting agencies --- Mercantile agencies --- Information services --- Human rights --- Private finance --- International finance --- Financial law --- European Union --- United States --- Economic policy. --- Macroeconomics. --- Law and economics. --- Public finance. --- Economic Policy. --- Macroeconomics/Monetary Economics//Financial Economics. --- Law and Economics. --- Financial Law/Fiscal Law. --- Cameralistics --- Public finance --- Currency question --- Economics and jurisprudence --- Economics and law --- Jurisprudence and economics --- Economics --- Jurisprudence --- Economic nationalism --- Economic planning --- National planning --- State planning --- Planning --- National security --- Social policy --- Public finances --- United States of America --- economie --- economische politiek --- economisch recht --- financieel recht

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Credit rating agencies face a difficult trade-off between delivering both accurate and stable ratings. In particular, its users have consistently expressed a preference for rating stability, driven by the transactions costs induced by trading when ratings change frequently. Rating agencies generally assign ratings on a through-the-cycle basis whereas banks' internal valuations are often based on a point-in-time performance, that is they are related to the current value of the rated entity's or instrument's underlying assets. This paper compares the two approaches and assesses their impact on rating stability and accuracy. We find that while through-the-cycle ratings are initially more stable, they are prone to rating cliff effects and also suffer from inferior performance in predicting future defaults. This is because they are typically smooth and delay rating changes. Using a through-the-crisis methodology that uses a more stringent stress test goes halfway toward mitigating cliff effects, but is still prone to discretionary rating change delays.

Credit ratings --- Credit bureaus --- Credit --- Credit information services --- Credit reporting agencies --- Mercantile agencies --- Commercial ratings --- Credit checks --- Credit guides --- Credit investigations --- Credit reports --- Ratings, Credit --- Evaluation --- Information services --- E-books --- Credit bureaus. --- Evaluation. --- Banks and Banking --- Exports and Imports --- Financial Risk Management --- Money and Monetary Policy --- Personal Finance -Taxation --- Financial Institutions and Services: General --- Investment Banking --- Venture Capital --- Brokerage --- Ratings and Ratings Agencies --- Financial Institutions and Services: Government Policy and Regulation --- Personal Income and Other Nonbusiness Taxes and Subsidies --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- International Financial Markets --- International Lending and Debt Problems --- Financing Policy --- Financial Risk and Risk Management --- Capital and Ownership Structure --- Value of Firms --- Goodwill --- Public finance & taxation --- Monetary economics --- Finance --- International economics --- Financial services law & regulation --- Personal income tax --- Asset valuation --- Debt default --- Credit risk --- Income tax --- Asset-liability management --- Debts, External --- Financial risk management