In Aug. 2007, the SEC Staff initiated examinations

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Summary Report of Issues Identified in the Security and Exchange Commission Staff’s Examinations of Select Credit Rating Agencies

Our Price: $25.00

By Barry Leonard (ed)
Year: 2008
Pages: 37
Binding Paperback

Product Code: 1437916236

Description

In Aug. 2007, the SEC Staff initiated examinations of 3 credit rating agencies -- Fitch Ratings, Ltd., Moody’s Investor Services, Inc., and Standard & Poor’s Ratings Services (S&P) -- to review their role in the recent turmoil in the subprime mortgage-related securities markets. The focus of the examinations was the rating agencies’ activities in rating subprime residential mortgage-backed securities (RMBS) and collateralized debt obligations (CDOs) linked to subprime residential mortgage-backed securities. The purpose of the examinations was to develop an understanding of the practices of the rating agencies surrounding the rating of RMBS and CDOs. This is a summary report by the SEC’s staff of the issues identified in those examinations.

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