主动的“市场看门人”:主动评级业务探索

Gatekeepers:The Role of Unsolicited Rating

纵观国外信用评级行业的发展历程,主动评级对评级机构积累声誉资本、扩大市场影响力具有重要作用。金融危机后,美国、欧盟和印度等国家和地区重新认识了主动评级在打破评级行业垄断、促进行业竞争方面扮演的积极角色,允许甚至鼓励在部分金融产品领域使用主动评级结果。本文介绍了国外主动评级业务的发展和监管情况,对我国的评级机构开展主动评级业务具有较好的借鉴意义。

The experience of international credit rating industry has revealed that credit agencies can most effectively improve their brand image and influence through unsolicited rating.After the financial crisis,U.S.,EU countries,and India have rediscovered the important role of unsolicited rating in breaking the industry monopolies,promoting competition,and encouraging the application of unsolicited rating results for certain financial products.This article mainly introduces the development and regulation condition in international credit rating industry,and its implications to domestic credit rating agencies in China.