| 美国依赖评级的监管规则对评级风险的影响综述 |
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| 引用本文： | 武钰.美国依赖评级的监管规则对评级风险的影响综述[J].河南金融管理干部学院学报,2014(3):33-38. |
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| 作者姓名： | 武钰 |
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| 作者单位： | [1]中国社会科学院金融研究所博士后流动站,北京100732; [2]中国华融资产管理股份有限公司博士后科研工作站,北京100033 |
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| 摘 要： | 1933年启用依赖评级的监管规则（RDRs）以来，学者研究了RDRs监管对评级风险的影响，结果表明，RDRs监管明显地助长了评级风险。今后，监管当局应弱化金融监管对评级的依赖，通过取消NRSRO或类似指定、允许适度的评级竞争，有限使用发行人付费模型，并限制发行人付费模型下发行人对评级机构的选择权，强化评级机构法律和社会责任等方式，减轻RDRs监管的负面影响。
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| 关 键 词： | 信用评级 金融监管 RDRs 评级风险 |
A Summary of the Impact of US Rating-dependent Regulatory Rules on Rating Risk |
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| WU Yu.A Summary of the Impact of US Rating-dependent Regulatory Rules on Rating Risk[J].Journal of Henan College of Financial Management Cadres,2014(3):33-38. |
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| Authors: | WU Yu |
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| Institution: | WU Yu(1. Postdoctoral Institute of Finance, CASS Beijing 100732, China ; 2. Postdoctoral Research Center, China Huarong Asset Management Corporation , Beijing 100033 , China ) |
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| Abstract: | Since rating-dependent regulatory rules （RDRs） was adopted in 1933, many scholars studied the impact of RDRs regulation on ratings risk. The results showed that RDRs regulatory framework clearly fuels rating risk. Therefore, the regulatory authorities should weaken financial regulatory reliance on ratings, and reduce the negative impact of RDRs regulation by eliminating NRSRO or similar designation and allowing modest competition among ratings, by limiting option of the issuer choosing rating agencies under issuer-pay model, by enabling rating agencies to strengthen legal and social responsibility, etc.. |
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| Keywords: | credit rating financial regulation RDRs rating risk |
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