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The Regulation Framework of Credit Rating Agencies Activity in the National Market

https://doi.org/10.32609/0042-8736-2009-2-39-50

Abstract

The dependence of the Russian market and its participants on the international rating agencies undermines an adequate estimation of credit risks and the economic sovereignty of the country. Russia should create an independent, effective and reliable national system of ratings. The Summit of G20 recommended forming a framework of supervision of rating agencies. The article discusses the model of regulation which minimizes risks of activity of rating agencies. Possible norms concern unsolicited ratings or regulation of rating pricing, sanctions for incorrect ratings, rating standard, minimum capital requirements, etc.

About the Author

S. Moiseev
Moscow Academy of Industry and Finance
Russian Federation


References

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5. Report on the Activities of Credit Rating Agencies / International Organization of Securities Commissions. Madrid, 2003.

6. Roy P. Is There a Difference between Solicited and Unsolicited Bank Ratings and if so, Why? // National Bank of Belgium Working Paper No 79. 2006.


Review

For citations:


Moiseev S. The Regulation Framework of Credit Rating Agencies Activity in the National Market. Voprosy Ekonomiki. 2009;(2):39-50. (In Russ.) https://doi.org/10.32609/0042-8736-2009-2-39-50

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ISSN 0042-8736 (Print)