Abolishing NRSRO status will give alternatives an opportunity to thrive, encouraging a variety of providers to develop credit assessment solutions.
They have access to all the credit assessment data used by the banks, and make credit checks on your behalf on all those requesting loans from them.
The second choice is to take bolder action--we abolish the "Nationally Recognized Statistical Rating Organization" status that credit ratings firms currently have (as provided by the U.S. Securities and Exchange Commission) and open up the way for competition that encourages the growth of new and diverse types of credit assessment firms that cater to investor needs with objective and dynamic measures of risk.
For instance, in 2002 Moody's acquired KMV, the global leader in provision of objective and quantitative credit risk assessment tools.
The key feature is that any borrower across the 27 EU member states would be refused a home loan if they failed a standard credit worthiness assessment.
Moody 's ( MCO - news - people ) acquired KMV, the global leader in provision of objective and quantitative credit risk assessment tools.
The OER Foundation, Otago Polytechnic (New Zealand), the University of Southern Queensland (Australia) and Athabasca University (Canada) are collaborating in this project as founding anchor partners to provide flexible pathways for OER learners to earn formal academic credit and pay reduced fees for assessment and credit.
"In the event that the credit ratings for one or more of these financial guarantors were downgraded, or if CIBC's own assessment of the credit status of any of the financial guarantors deteriorated significantly, it is possible that CIBC would make additional fair-value adjustments, " the bank said.
Credit ratings agencies have either lowered their assessment on Lehman or cut its ratings, citing subdued earnings potential for the foreseeable future.
Any assessment of the degree of SME credit risk relies on deep knowledge of the borrower.
"Household spending has shown signs of stabilizing but remains constrained by ongoing job losses, lower housing wealth and tight credit, " said the Federal Reserve in its assessment Wednesday.
Going forward the bank should actually apply the Equator Principles, a voluntary credit risk management framework with a set of guidelines for environmental and social risk assessment in sustainable project finance activities.
TruSolar is working to standardize risk assessment and develop scores for each solar project that would be similar to a credit rating, thereby streamlining the entire development and financing process.
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