Credit ratings will become problematic in the Asian bond markets under Basel II
The revised accord will increase the need for a regional credit rating system.
The need for a common rating standard will become a bigger issue under Basel II, according to a new working paper on the Asian banking infrastructure for bond markets.
After the 1997 Asian financial crisis, east Asian countries began to recognise the importance of rating agencies. Basel II is expected to further increase the influence of the judgements of international credit rating agencies, according to ‘Building infrastructure for Asian bond markets: settlement and credit ratings.’
“When
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