{"id":14562,"date":"2013-04-12T14:00:00","date_gmt":"2013-04-12T14:00:00","guid":{"rendered":"https:\/\/iseg.gomo.dev\/event\/iseg-2s-bank-ratings-what-determines-their-quality\/"},"modified":"2013-04-12T14:00:00","modified_gmt":"2013-04-12T14:00:00","slug":"iseg-2s-bank-ratings-what-determines-the-ir-quality","status":"publish","type":"event","link":"https:\/\/www.iseg.ulisboa.pt\/en\/event\/iseg-2s-bank-ratings-what-determines-the-ir-quality\/","title":{"rendered":"ISEG 2S | Bank ratings: What determines their quality?"},"content":{"rendered":"<table border=\"0\">\n  <tbody>\n    <tr>\n      <td>\n      <span>&nbsp;<\/span> \n      <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/aquila2.iseg.utl.pt\/aquila\/getFile.do?method=getFile&amp;fileId=294073\" alt=\"\" width=\"516\" height=\"172\" \/><\/td>\n    <\/tr>\n    <tr>\n      <td>\n        <p>\n        <span>\n        <strong>Speaker:<\/strong><\/span> \n        <a href=\"http:\/\/www.haraldhau.com\/\" target=\"_blank\" rel=\"noopener\">Harald Hau<\/a>\n        <br \/> \n        <em>Swiss Finance Institute<\/em>\n        <br \/> \n        <strong>\n        <span>\n        <br \/>Presentation:<\/span><\/strong> \n        <a href=\"https:\/\/aquila.iseg.utl.pt\/aquila\/getFile.do?method=getFile&amp;fileId=345725\" target=\"_blank\" rel=\"noopener\">Bank ratings: What determines their quality?<\/a>\n        <br \/> \n        <span>\n        <strong>\n        <br \/>Jointly with:<\/strong><\/span> \n        <a href=\"http:\/\/www.clsbe.lisboa.ucp.pt\/site\/custom\/template\/fceetplgeneric.asp?sspageID=402&amp;lang=1\" target=\"_blank\" rel=\"noopener\">Lisbon Finance Seminars<\/a> \n        <span>\n          <br \/>\n          <br \/>\n        <\/span> \n        <strong>Abstract\n        <br \/><\/strong> This paper examines the quality of credit ratings assigned to banks by the three largest rating agencies. We interpret credit ratings as relative assessments of creditworthiness, and define a new ordinal metric of rating error based on banks&#039; expected default frequencies. Our results suggest that on average large banks receive more positive bank ratings, particularly from the agency to which the bank provides substantial securitization business. These competitive distortions are economically significant and contribute to perpetuate the existence of &#039;too-big-to-fail&#039; banks. We also show that, overall, differential risk weights recommended by the Basel accords for investment grade banks bear no significant relationship to empirical default probabilities.<\/p>\n        <p>\n          <span>\n          <strong>&nbsp;<\/strong><\/span>\n        <\/p>\n      <\/td>\n    <\/tr>\n    <tr>\n      <td>\n        <p>&nbsp;<\/p>\n        <p>\n        <strong>ORGANIZING TEAM\n        <br \/><\/strong> This seminar series is organized by \n        <a href=\"mailto:mabreu@iseg.utl.pt?subject=ISEG%202S\" target=\"_blank\" rel=\"noopener\">\n        <span>Margarida Abreu<\/span><\/a> \n        <span>(ECO),<\/span> \n        <a href=\"mailto:Rmgaspar@iseg.utl.pt?subject=ISEG%202S\">\n        <span>Raquel M. Gaspar<\/span><\/a> \n        <span>(FIN\/MG) and<\/span> \n        <a href=\"mailto:isabelp@iseg.utl.pt?subject=ISEG%202S\">\n        <span>Isabel Proen\u00e7a<\/span><\/a> \n        <span>(QM).<\/span><\/p>\n        <p>\n        <strong>\n        <span>MEETING THE SPEAKER<\/span><\/strong> \n        <span>All speakers are available to meet faculty at ISEG during the afternoon after the talk. Slots are limited. To book your time with the speaker, contact one of the coordination team members.<\/span><\/p>\n        <p>\n        <strong>\n        <span>MAILING LIST<\/span><\/strong> To join the ISEG 2S Seminar Mailing List and receive regular information contact \n        <a title=\"Filomena Ferreira\" href=\"mailto:fferreira@iseg.utl.pt\">\n        <span>Filomena Ferreira<\/span><\/a> \n        <span>.<\/span><\/p>\n        <p>\n        <strong>\n        <span>PARKING<\/span><\/strong> If you come to the seminars at ISEG by car, please contact \n        <a href=\"mailto:fferreira@iseg.utl.pt\" target=\"_blank\" rel=\"noopener\">\n        <span>Filomena Ferreira<\/span><\/a> \n        <span>to assure your entrance into the park.<\/span><\/p>\n      <\/td>\n    <\/tr>\n    <tr>\n      <td>\n        <p>&nbsp;<\/p>\n      <\/td>\n    <\/tr>\n    <tr>\n      <td>&nbsp;<\/td>\n    <\/tr>\n    <tr>\n      <td align=\"center\" valign=\"middle\">\n      <span>&nbsp;<\/span> \n      <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/aquila2.iseg.utl.pt\/aquila\/getFile.do?method=getFile&amp;fileId=296719\" alt=\"\" width=\"183\" height=\"117\" \/><\/td>\n    <\/tr>\n  <\/tbody>\n<\/table>","protected":false},"excerpt":{"rendered":"&nbsp; Speaker: Harald Hau Swiss Finance Institute Presentation: Bank ratings: What determines their quality? Jointly with: Lisbon&nbsp;Finance&nbsp;Seminars Abstract This paper examines the quality of credit ratings assigned to banks by&nbsp;[&#8230;]","protected":false},"featured_media":0,"template":"","topic":[],"event_type":[],"acf":{"start_date":"2013-04-12 14:00:00","end_date":"2013-04-12 14:01:00","venue":"Quelhas 6 | Floor 3 | Delta Room","location":null,"event_type":false,"topic":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ISEG 2S | Bank ratings: What determines their quality? - ISEG<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.iseg.ulisboa.pt\/en\/event\/iseg-2s-bank-ratings-what-determines-the-ir-quality\/\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.iseg.ulisboa.pt\/en\/event\/iseg-2s-bank-ratings-what-determines-the-ir-quality\/\",\"url\":\"https:\/\/www.iseg.ulisboa.pt\/en\/event\/iseg-2s-bank-ratings-what-determines-the-ir-quality\/\",\"name\":\"ISEG 2S | Bank ratings: What determines their quality? 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