The Financial Counterpart Monitor from Credit Benchmark provides a unique analysis of the changing creditworthiness of financial institutions.
It is a positive month for the credit quality of Global Financial counterparts, with a handful of exceptions.
Banks are dominated by positive credit movements this month. Globally Systematically Important Banks (GSIBs) has the strongest showing, with an improving to deteriorating ratio of 6:1. North American Banks are the lone net negative performer this month, with 1:1.8 improvements to deteriorations.
This month the Intermediaries are mostly positive. Prime Brokers stand out with the strongest bias towards credit improvement, with improving to deteriorating ratios of 4:1. However, Central Clearing Counterparts (CCPs) are in the red with a ratio of two deteriorations to each improvement.
This month Buy Side are wholly positive. Pension Funds come out on top with an improving to deteriorating ratio of 2.2:1
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.