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Credit rating agency

Index Credit rating agency

A credit rating agency (CRA, also called a ratings service) is a company that assigns credit ratings, which rate a debtor's ability to pay back debt by making timely interest payments and the likelihood of default. [1]

153 relations: A. M. Best, All the Devils Are Here, Asset-backed security, Australian Securities and Investments Commission, Bankruptcy, Basel II, Basel III, Basis point, Bethany McLean, Big Three (credit rating agencies), Blue chip (stock market), Bond (finance), Bond credit rating, Bretton Woods system, Broker-dealer, Business model, CDO-Squared, Central bank, Certificate of deposit, China Chengxin Credit Rating Group, Collateralized debt obligation, Commercial mortgage-backed security, Commercial paper, Conflict of interest, Corporate bond, Corporation, Credit bureau, Credit default swap, Credit rating, Credit Rating Agency Reform Act, Credit Rating Information and Services Limited, Credit risk, Credit score, Dagong Europe Credit Rating, Dagong Global Credit Rating, DBRS, Death spiral financing, Debt, Default (finance), Deposit account, Derivative (finance), Developing country, Dodd–Frank Wall Street Reform and Consumer Protection Act, Dun & Bradstreet, Economic liberalism, Egan-Jones Ratings Company, Eilís Ferran, Emerging markets, Enron, Enron scandal, ..., Equity (finance), European debt crisis, European Union, Eurozone, Fairfax Media, Fax, Federal Reserve Bank, Financial Crisis Inquiry Commission, Financial crisis of 2007–2008, Financial Stability Forum, Financial Times, First Amendment to the United States Constitution, Fitch Ratings, Frank Partnoy, Freddie Mac, Free-rider problem, Freedom of speech, Glass–Steagall legislation, Government, Government bond, Great Depression, Great Recession, Henry Varnum Poor, High-yield debt, History of New York City (1946–77), ICRA Limited, Interest rate, Intermediary, International Monetary Fund, International Organization of Securities Commissions, Investment banking, Issuer, Japan Credit Rating Agency, Joe Nocera, John Bradstreet, John Moody (financial analyst), Kroll Bond Rating Agency, Kroll Inc., Lawrence J. White, Level of measurement, Lewis Tappan, Life insurance, List of countries by credit rating, Long-Term Capital Management, Market liquidity, Model risk, Money market fund, Moody's Investors Service, Morningstar, Inc., Mortgage-backed security, Municipal bond, Municipality, Nationally recognized statistical rating organization, Nonprofit organization, Oligopoly, Panic of 1837, Panic of 1907, Pension fund, Photocopier, Preferred stock, Probability of default, Profit center, Rapid Ratings International, Receivership, Residential mortgage-backed security, Retail banking, Reuters, Risk management, RusRating, Sarbanes–Oxley Act, Savings and loan association, Secondary market, Securities Industry and Financial Markets Association, Securities research, Securitization, Security (finance), Self-fulfilling prophecy, Sovereignty, Special-purpose entity, Standard & Poor's, Structured finance, Subprime mortgage crisis, Subscription business model, Swiss Finance Institute, Syndicated loan, Synthetic CDO, The Big Short, The Economist, The Times, Think tank, Tranche, U.S. Securities and Exchange Commission, United States Department of Justice, Universal Credit Rating Group, Veda (company), Virtuous circle and vicious circle, Wall Street, Warren Buffett, Wikirating, World Bank, World Pensions & Investments Forum, 1997 Asian financial crisis, 1998 Russian financial crisis. Expand index (103 more) »

A. M. Best

A.M. Best is a U.S.-based rating agency headquartered in Oldwick, New Jersey, that focuses on the insurance industry.

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All the Devils Are Here

All the Devils Are Here: The Hidden History of the Financial Crisis is a nonfiction book by authors Bethany McLean and Joseph Nocera about the 2008 financial crisis. It details how the financial crisis bubbled up from a volatile, and bipartisan, mixture of government meddling and laissez-faire.

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Asset-backed security

An asset-backed security (ABS) is a security whose income payments and hence value are derived from and collateralized (or "backed") by a specified pool of underlying assets.

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Australian Securities and Investments Commission

The Australian Securities and Investments Commission (ASIC) is an independent Australian government body that acts as Australia's corporate regulator.

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Bankruptcy

Bankruptcy is a legal status of a person or other entity that cannot repay debts to creditors.

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Basel II

Basel II is the second of the Basel Accords, (now extended and partially superseded by Basel III), which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision.

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Basel III

Basel III (or the Third Basel Accord or Basel Standards) is a global, voluntary regulatory framework on bank capital adequacy, stress testing, and market liquidity risk.

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Basis point

A basis point (often denoted as bp, often pronounced as "bip" or "beep") is (a difference of) one hundredth of a percent or equivalently one ten thousandth.

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Bethany McLean

Bethany McLean (born December 12, 1970) is an American journalist who is a contributing editor to Vanity Fair magazine, and known for her work on the Enron scandal and the 2008 financial crisis.

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Big Three (credit rating agencies)

The Big Three credit rating agencies are Standard & Poor's (S&P), Moody's, and Fitch Group.

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Blue chip (stock market)

A blue chip is stock in a corporation with a national reputation for quality, reliability, and the ability to operate profitably in good times and bad.

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Bond (finance)

In finance, a bond is an instrument of indebtedness of the bond issuer to the holders.

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Bond credit rating

In investment, the bond credit rating represents the credit worthiness of corporate or government bonds.

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Bretton Woods system

The Bretton Woods system of monetary management established the rules for commercial and financial relations among the United States, Canada, Western Europe, Australia, and Japan after the 1944 Bretton-Woods Agreement.

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Broker-dealer

In financial services, a broker-dealer is a natural person, company or other organization that engages in the business of trading securities for its own account or on behalf of its customers.

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Business model

A business model describes the rationale of how an organization creates, delivers, and captures value,Business Model Generation, Alexander Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self-published, 2010 in economic, social, cultural or other contexts.

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CDO-Squared

CDO-Squared is a collateralized debt obligations backed primarily by the tranches issued by other CDOs.

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Central bank

A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates.

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Certificate of deposit

A certificate of deposit (CD) is a time deposit, a financial product commonly sold in the United States and elsewhere by banks, thrift institutions, and credit unions.

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China Chengxin Credit Rating Group

China Chengxin Credit Rating Group was founded in Beijing on 8 October 1992 through the incorporation of China Chengxin Credit Management Co Ltd (renamed as China Chengxin Credit Management Co. Ltd. in 2002), which is the first nationwide credit rating company of China.

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Collateralized debt obligation

A collateralized debt obligation (CDO) is a type of structured asset-backed security (ABS).

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Commercial mortgage-backed security

Commercial mortgage-backed securities (CMBS) are a type of mortgage-backed security backed by commercial mortgages rather than residential real estate.

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Commercial paper

Commercial paper, in the global financial market, is an unsecured promissory note with a fixed maturity of not more than 364 days.

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Conflict of interest

A conflict of interest (COI) is a situation in which a person or organization is involved in multiple interests, financial or otherwise, and serving one interest could involve working against another.

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Corporate bond

A corporate bond is a bond issued by a corporation in order to raise financing for a variety of reasons such as to ongoing operations, M&A, or to expand business.

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Corporation

A corporation is a company or group of people or an organisation authorized to act as a single entity (legally a person) and recognized as such in law.

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Credit bureau

A credit bureau is a collection agency that gathers account information from various creditors and provides that information to a consumer reporting agency in the United States, a credit reference agency in the United Kingdom, a credit reporting body in Australia, a credit information company (CIC) in India, Special Accessing Entity in the Philippines, and also to private lenders.

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Credit default swap

A credit default swap (CDS) is a financial swap agreement that the seller of the CDS will compensate the buyer in the event of a debt default (by the debtor) or other credit event.

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Credit rating

A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government), predicting their ability to pay back the debt, and an implicit forecast of the likelihood of the debtor defaulting.

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Credit Rating Agency Reform Act

The Credit Rating Agency Reform Act is a United States federal law whose goal is to improve ratings quality for the protection of investors and in the public interest by fostering accountability, transparency, and competition in the credit rating agency industry.

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Credit Rating Information and Services Limited

Credit Rating Information and Services Limited (CRISL) is the first credit rating company in Bangladesh.

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Credit risk

A credit risk is the risk of default on a debt that may arise from a borrower failing to make required payments.

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Credit score

A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual.

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Dagong Europe Credit Rating

Dagong Europe Credit Rating srl (Dagong Europe) was established in March 2012 with headquarters in Milan, Italy.

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Dagong Global Credit Rating

Dagong Global Credit Rating is a credit rating agency based in China.

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DBRS

DBRS is a global credit rating agency (CRA) founded in 1976 (originally known as Dominion Bond Rating Service) in Toronto.

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Death spiral financing

Death spiral financing is a process in which convertible financing used to fund primarily small cap companies can be used against it in the marketplace to cause the company’s stock to fall dramatically, which can lead to the company’s ultimate downfall.

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Debt

Debt is when something, usually money, is owed by one party, the borrower or debtor, to a second party, the lender or creditor.

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Default (finance)

In finance, default is failure to meet the legal obligations (or conditions) of a loan, for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity.

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Deposit account

A deposit account is a savings account, current account or any other type of bank account that allows money to be deposited and withdrawn by the account holder.

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Derivative (finance)

In finance, a derivative is a contract that derives its value from the performance of an underlying entity.

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Developing country

A developing country (or a low and middle income country (LMIC), less developed country, less economically developed country (LEDC), underdeveloped country) is a country with a less developed industrial base and a low Human Development Index (HDI) relative to other countries.

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Dodd–Frank Wall Street Reform and Consumer Protection Act

The Dodd–Frank Wall Street Reform and Consumer Protection Act (commonly referred to as Dodd–Frank) was signed into United States federal law by US President Barack Obama on July 21, 2010.

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Dun & Bradstreet

Dun & Bradstreet, Inc. is a company that provides commercial data, analytics and insights for business.

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Economic liberalism

Economic liberalism is an economic system organized on individual lines, which means the greatest possible number of economic decisions are made by individuals or households rather than by collective institutions or organizations.

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Egan-Jones Ratings Company

Egan-Jones Ratings Company, also known as EJR, was founded in 1995 and actively rates the credit worthiness of approximately 2000+ high yield and high grade U.S. corporate debt issuers.

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Eilís Ferran

Eilís Veronica Ferran, FBA (born 14 March 1962) is a Northern Irish legal scholar, solicitor, and academic administrator.

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Emerging markets

An emerging market is a country that has some characteristics of a developed market, but does not meet standards to be a developed market.

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Enron

Enron Corporation was an American energy, commodities, and services company based in Houston, Texas.

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Enron scandal

The Enron scandal was a financial scandal that eventually led to the bankruptcy of the Enron Corporation, an American energy company based in Houston, Texas, and the de facto dissolution of Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world.

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Equity (finance)

In accounting, equity (or owner's equity) is the difference between the value of the assets and the value of the liabilities of something owned.

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European debt crisis

The European debt crisis (often also referred to as the Eurozone crisis or the European sovereign debt crisis) is a multi-year debt crisis that has been taking place in the European Union since the end of 2009.

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European Union

The European Union (EU) is a political and economic union of EUnum member states that are located primarily in Europe.

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Eurozone

No description.

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Fairfax Media

Fairfax Media Limited (formerly John Fairfax and Sons) is one of the largest media companies in Australia and New Zealand, with investments in newspaper, magazines, radio and digital properties.

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Fax

Fax (short for facsimile), sometimes called telecopying or telefax (the latter short for telefacsimile), is the telephonic transmission of scanned printed material (both text and images), normally to a telephone number connected to a printer or other output device.

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Federal Reserve Bank

A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States.

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Financial Crisis Inquiry Commission

The Financial Crisis Inquiry Commission (FCIC) was a ten-member commission appointed by the leaders of the United States Congress with the goal of investigating the causes of the financial crisis of 2007–2010.

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Financial crisis of 2007–2008

The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.

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Financial Stability Forum

The Financial Stability Forum (FSF) was a group consisting of major national financial authorities such as finance ministries, central bankers, and international financial bodies.

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Financial Times

The Financial Times (FT) is a Japanese-owned (since 2015), English-language international daily newspaper headquartered in London, with a special emphasis on business and economic news.

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First Amendment to the United States Constitution

The First Amendment (Amendment I) to the United States Constitution prevents Congress from making any law respecting an establishment of religion, prohibiting the free exercise of religion, or abridging the freedom of speech, the freedom of the press, the right to peaceably assemble, or to petition for a governmental redress of grievances.

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Fitch Ratings

Fitch Ratings Inc.

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Frank Partnoy

Frank Partnoy is the George E. Barrett Professor of Law and Finance and is the founding director of the Center on Corporate and Securities Law at the University of San Diego. He is one of the world’s leading experts on the complexities of modern finance and financial market regulation. He worked as a derivatives structurer at Morgan Stanley and CS First Boston during the mid-1990s and wrote, a best-selling book about his experiences there.

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Freddie Mac

The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac, is a public government-sponsored enterprise (GSE), headquartered in Tysons Corner, Virginia.

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Free-rider problem

In economics, the free-rider problem occurs when those who benefit from resources, public goods, or services do not pay for them, which results in an underprovision of those goods or services.

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Freedom of speech

Freedom of speech is a principle that supports the freedom of an individual or a community to articulate their opinions and ideas without fear of retaliation, censorship, or sanction.

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Glass–Steagall legislation

The Glass–Steagall legislation describes four provisions of the U.S.A Banking Act of 1933 separating commercial and investment banking.

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Government

A government is the system or group of people governing an organized community, often a state.

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Government bond

A government bond or sovereign bond is a bond issued by a national government, generally with a promise to pay periodic interest payments and to repay the face value on the maturity date.

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Great Depression

The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.

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Great Recession

The Great Recession was a period of general economic decline observed in world markets during the late 2000s and early 2010s.

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Henry Varnum Poor

Henry Varnum Poor (December 8, 1812 – January 4, 1905) was a financial analyst and founder of H.V. and H.W. Poor Co, which later evolved into the financial research and analysis bellwether, Standard & Poor's.

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High-yield debt

In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade.

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History of New York City (1946–77)

Immediately after World War II, New York City became known as one of the world's greatest cities.

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ICRA Limited

ICRA Limited (ICRA) is an Indian independent and professional investment information and credit rating agency.

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Interest rate

An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited or borrowed (called the principal sum).

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Intermediary

An intermediary (or go-between) is a third party that offers intermediation services between two parties.

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International Monetary Fund

The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of "189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1945 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.

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International Organization of Securities Commissions

The International Organisation of Securities Commissions (IOSCO) is an association of organisations that regulate the world’s securities and futures markets.

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Investment banking

An investment bank is typically a private company that provides various finance-related and other services to individuals, corporations, and governments such as raising financial capital by underwriting or acting as the client's agent in the issuance of securities.

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Issuer

Issuer is a legal entity that develops, registers and sells securities for the purpose of financing its operations.

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Japan Credit Rating Agency

The Japan Credit Rating Agency (JCR), established in 1985, is a Japanese financial services company which publishes credit ratings to Japanese companies, local governments, and other interested parties.

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Joe Nocera

Joseph "Joe" Nocera (born May 6, 1952 in Providence, Rhode Island) is an American business journalist and author.

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John Bradstreet

Major General John Bradstreet, born Jean-Baptiste Bradstreet (21 December 1714 – 25 September 1774) was a British Army officer during King George's War, the French and Indian War, and Pontiac's Rebellion.

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John Moody (financial analyst)

John Moody (May 2, 1868 – February 16, 1958) was an American financial analyst, businessman and investor.

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Kroll Bond Rating Agency

Kroll Bond Rating Agency (KBRA) is a credit rating agency.

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Kroll Inc.

Kroll is a corporate investigations and risk consulting firm based in Midtown Manhattan, New York City.

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Lawrence J. White

Lawrence J. White (born c. 1943) is Robert Kavesh Professor of Economics at New York University's Leonard N. Stern School of Business.

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Level of measurement

Level of measurement or scale of measure is a classification that describes the nature of information within the values assigned to variables.

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Lewis Tappan

Lewis Tappan (1788–1873) was a New York abolitionist who worked to achieve the freedom of the illegally enslaved Africans of the Amistad.

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Life insurance

Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder).

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List of countries by credit rating

This is a list of countries by credit rating, showing long-term foreign currency credit ratings for sovereign bonds as reported by the three major credit rating agencies: Standard & Poor's, Fitch, and Moody's.

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Long-Term Capital Management

Long-Term Capital Management L.P. (LTCM) was a hedge fund management firmA financial History of the United States Volume II: 1970–2001, Jerry W. Markham, Chapter 5: "Bank Consolidation", M. E. Sharpe, Inc., 2002 based in Greenwich, Connecticut that used absolute-return trading strategies combined with high financial leverage.

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Market liquidity

In business, economics or investment, market liquidity is a market's feature whereby an individual or firm can quickly purchase or sell an asset without causing a drastic change in the asset's price.

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Model risk

In finance, model risk is the risk of loss resulting from using insufficiently accurate models to make decisions, originally and frequently in the context of valuing financial securities.

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Money market fund

A money market fund (also called a money market mutual fund) is an open-ended mutual fund that invests in short-term debt securities such as US Treasury bills and commercial paper.

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Moody's Investors Service

Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name.

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Morningstar, Inc.

Morningstar, Inc. is an investment research and investment management firm headquartered in Chicago, Illinois, United States.

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Mortgage-backed security

A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages.

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Municipal bond

A municipal bond, commonly known as a Muni Bond, is a bond issued by a local government or territory, or one of their agencies.

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Municipality

A municipality is usually a single urban or administrative division having corporate status and powers of self-government or jurisdiction as granted by national and state laws to which it is subordinate.

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Nationally recognized statistical rating organization

A nationally recognized statistical rating organization (NRSRO) is a credit rating agency (CRA) that issues credit ratings that the U.S. Securities and Exchange Commission (SEC) permits other financial firms to use for certain regulatory purposes.

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Nonprofit organization

A non-profit organization (NPO), also known as a non-business entity or non-profit institution, is dedicated to furthering a particular social cause or advocating for a shared point of view.

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Oligopoly

An oligopoly (from Ancient Greek ὀλίγος (olígos) "few" + πωλεῖν (polein) "to sell") is a market form wherein a market or industry is dominated by a small number of large sellers (oligopolists).

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Panic of 1837

The Panic of 1837 was a financial crisis in the United States that touched off a major recession that lasted until the mid-1840s.

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Panic of 1907

The Panic of 1907 – also known as the 1907 Bankers' Panic or Knickerbocker Crisis – was a United States financial crisis that took place over a three-week period starting in mid-October, when the New York Stock Exchange fell almost 50% from its peak the previous year.

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Pension fund

A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income.

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Photocopier

A photocopier (also known as a copier or copy machine) is a machine that makes paper copies of documents and other visual images quickly and cheaply.

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Preferred stock

Preferred stock (also called preferred shares, preference shares or simply preferreds) is a type of stock which may have any combination of features not possessed by common stock including properties of both an equity and a debt instrument, and is generally considered a hybrid instrument.

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Probability of default

Probability of default (PD) is a financial term describing the likelihood of a default over a particular time horizon.

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Profit center

A profit center is a part of a business which is expected to make an identifiable contribution to the organization's profits.

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Rapid Ratings International

RapidRatings International, Inc., is an independent ratings, research and analytics firm that uses a proprietary quantitative system to rate the financial health of corporations and financial institutions.

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Receivership

In law, receivership is a situation in which an institution or enterprise is held by a receiver—a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights"—especially in cases where a company cannot meet financial obligations or enters bankruptcy.

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Residential mortgage-backed security

A residential mortgage-backed security (RMBS) is a reference to the general package of financial agreements that typically represents cash yields that are paid to investors and that are supported by cash payments received from homeowners who pay interest and principal according to terms agreed to with their lenders; it is a funding instrument created by the "originator" or "sponsor" of the mortgage loan; without cross-collateralizing individual loans and mortgages (because it would be impossible to receive permission from individual homeowners), it is a funding instrument that pools the cash flow received from individuals and pays these cash receipts out with waterfall priorities that enable investors to become comfortable with the certainty of receipt of cash at any point in time.

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Retail banking

Retail banking, also known as consumer banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking.

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Reuters

Reuters is an international news agency headquartered in London, United Kingdom.

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Risk management

Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinator and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.

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RusRating

RusRating (Рус-Рейтинг) is a credit rating agency located in Russia founded in 2001.

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Sarbanes–Oxley Act

The Sarbanes–Oxley Act of 2002, also known as the "Public Company Accounting Reform and Investor Protection Act" (in the Senate) and "Corporate and Auditing Accountability, Responsibility, and Transparency Act" (in the House) and more commonly called Sarbanes–Oxley, Sarbox or SOX, is a United States federal law that set new or expanded requirements for all U.S. public company boards, management and public accounting firms.

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Savings and loan association

A savings and loan association (S&L), or thrift institution, is a financial institution that specializes in accepting savings, deposits, and making mortgage and other loans.

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Secondary market

The secondary market, also called the aftermarket and follow on public offering is the financial market in which previously issued financial instruments such as stock, bonds, options, and futures are bought and sold.

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Securities Industry and Financial Markets Association

The Securities Industry and Financial Markets Association (SIFMA) is a United States industry trade group representing securities firms, banks, and asset management companies.

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Securities research

Securities research is a discipline within the financial services industry.

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Securitization

Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt obligations (CDOs).

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Security (finance)

A security is a tradable financial asset.

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Self-fulfilling prophecy

A self-fulfilling prophecy is a prediction that directly or indirectly causes itself to become true, by the very terms of the prophecy itself, due to positive feedback between belief and behavior.

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Sovereignty

Sovereignty is the full right and power of a governing body over itself, without any interference from outside sources or bodies.

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Special-purpose entity

A special-purpose entity (SPE; or, in Europe and India, special-purpose vehicle/SPV, or, in some cases in each EU jurisdiction – FVC, financial vehicle corporation) is a legal entity (usually a limited company of some type or, sometimes, a limited partnership) created to fulfill narrow, specific or temporary objectives.

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Standard & Poor's

Standard & Poor's Financial Services LLC (S&P) is an American financial services company.

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Structured finance

Structured finance is a sector of finance, specifically Financial law that manages leverage and risk.

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Subprime mortgage crisis

The United States subprime mortgage crisis was a nationwide banking emergency, occurring between 2007 and 2010, that contributed to the U.S. recession of December 2007 – June 2009.

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Subscription business model

The subscription business model is a business model where a customer must pay a subscription price to have access to a product or service.

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Swiss Finance Institute

The Swiss Finance Institute (SFI) is a Swiss research and scientific educational institute in the areas of banking and finance.

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Syndicated loan

A syndicated loan is one that is provided by a group of lenders and is structured, arranged, and administered by one or several commercial banks or investment banks known as lead arrangers.

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Synthetic CDO

A synthetic CDO (collateralized debt obligation) is a variation of a CDO that generally uses credit default swaps and other derivatives to obtain its investment goals.

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The Big Short

The Big Short: Inside the Doomsday Machine is a non-fiction book by Michael Lewis about the build-up of the United States housing bubble during the 2000s.

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The Economist

The Economist is an English-language weekly magazine-format newspaper owned by the Economist Group and edited at offices in London.

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The Times

The Times is a British daily (Monday to Saturday) national newspaper based in London, England.

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Think tank

A think tank, think factory or policy institute is a research institute/center and organisation that performs research and advocacy concerning topics such as social policy, political strategy, economics, military, technology, and culture.

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Tranche

In structured finance, a tranche is one of a number of related securities offered as part of the same transaction.

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U.S. Securities and Exchange Commission

The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government.

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United States Department of Justice

The United States Department of Justice (DOJ), also known as the Justice Department, is a federal executive department of the U.S. government, responsible for the enforcement of the law and administration of justice in the United States, equivalent to the justice or interior ministries of other countries. The department was formed in 1870 during the Ulysses S. Grant administration. The Department of Justice administers several federal law enforcement agencies including the Federal Bureau of Investigation (FBI), and the Drug Enforcement Administration (DEA). The department is responsible for investigating instances of financial fraud, representing the United States government in legal matters (such as in cases before the Supreme Court), and running the federal prison system. The department is also responsible for reviewing the conduct of local law enforcement as directed by the Violent Crime Control and Law Enforcement Act of 1994. The department is headed by the United States Attorney General, who is nominated by the President and confirmed by the Senate and is a member of the Cabinet. The current Attorney General is Jeff Sessions.

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Universal Credit Rating Group

Universal Credit Rating Group (UCRG) is a credit ratings agency based in Hong Kong.

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Veda (company)

Veda is the largest credit reference agency in Australia and New Zealand.

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Virtuous circle and vicious circle

The terms virtuous circle and vicious circle (also referred to as virtuous cycle and vicious cycle) refer to complex chains of events that reinforce themselves through a feedback loop.

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Wall Street

Wall Street is an eight-block-long street running roughly northwest to southeast from Broadway to South Street, at the East River, in the Financial District of Lower Manhattan in New York City.

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Warren Buffett

Warren Edward Buffett (born August 30, 1930) is an American business magnate, investor, and philanthropist who serves as the chairman and CEO of Berkshire Hathaway.

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Wikirating

Wikirating is a free, collaborative platform for credit ratings that aims to provide a transparent source for credit ratings of countries, companies and structured products.

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World Bank

The World Bank (Banque mondiale) is an international financial institution that provides loans to countries of the world for capital projects.

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World Pensions & Investments Forum

The World Pensions & Investments Forum is a research and policy-oriented conference organised by the World Pensions Council (WPC), also known as the International Association of Pension Funds (IAPF), in partnership with regional and supranational organisations, large public and private institutional investors from G10 countries, the emerging nations of Eastern Europe, Latin America, Asia and the MENA area.

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1997 Asian financial crisis

The Asian financial crisis was a period of financial crisis that gripped much of East Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.

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1998 Russian financial crisis

The Russian financial crisis (also called Ruble crisis or the Russian Flu) hit Russia on 17 August 1998.

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References

[1] https://en.wikipedia.org/wiki/Credit_rating_agency

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