The Financial Counterpart Monitor from Credit Benchmark provides a unique analysis of the changing creditworthiness of financial institutions.
It has been a mixed bag in terms of credit movement this month, across all Global Financial Counterpart categories.
North American Banks and Latin American Banks stand out with the strongest bias towards credit deterioration, with improving to deteriorating ratios of 1:4.6 and 1:3.7 respectively. On the other hand, Central Banks show a strong bias towards credit improvement, with an improving to deteriorating ratio of 3:1.
Broker Dealers and Custodians and Sub Custodians both show more instances of deterioration than improvement this month. Prime Brokers come out on top with an improving to deteriorating ratio of 2:1, whilst Central Clearing Counterparts (CCP) show no instances of deterioration.
Asset Managers and Pension Funds show a bias towards credit deterioration, with improving to deteriorating ratios of 1:1.3 and 1:1.8 respectively. The rest show a bias towards credit improvement, with Sovereign Wealth Funds leading with an improving to deteriorating ratio of 4:1.
The Financial Counterpart Monitor from Credit Benchmark provides a unique analysis of the changing creditworthiness of financial institutions. The report, which covers banks, intermediaries, buy-side managers, and buy-side owners, summarizes the changes in credit consensus of each group as well as their current credit distribution and count of entities that have migrated from Investment Grade to High Yield.
The data, which is based on the credit risk views of Credit Benchmark’s contributing financial institutions, is also available at the legal entity level. Users of the data can monitor and be alerted to the changing credit consensus of their financial counterparts.
