The Financial Counterpart Monitor from Credit Benchmark provides a unique analysis of the changing creditworthiness of financial institutions.
Global Financials have seen a mixed bag in terms of credit movement this month across counterpart categories.
Banks have been dominated by negative credit movements this month. North American Banks, APAC Banks and Latin American Banks stand out with the strongest bias towards credit deterioration, with improving to deteriorating ratios of 1:1.7, 1:1.5 and 1:1.4 respectively. EMEA Banks were the lone net positive performer this month, at 1.3:1 improvements to deteriorations.
This month the Intermediaries were wholly positive. Broker Dealers and Prime Brokers stand out with the strongest bias towards credit improvement, with improving to deteriorating ratios of 2.7:1 and 2.3:1 respectively.
Insurance Companies show a bias towards credit improvement, with improving to deteriorating ratio of 1.3:1. Sovereign Wealth Funds came in at neutral. The rest show a bias towards credit deterioration.
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.