Insights

Credit Spotlight on Tariffs: The Wider Impact
Tariffs are reshaping trade and credit risk. Credit Benchmark data highlights early signs of strain and resilience.
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Central Counterparty Credit Risks Show Significant Variation
Outstanding derivative contracts are being progressively transferred to Central Counterparties (“CCPs”). The CCP framework is intended to minimize global (i.e. systemic) risk as well as local credit risk. This note uses Credit Benchmark data provided by global IRB banks to estimate the relative credit risk of 26 CCPs in Europe

Global Airlines Sector: Credit Trends
Whitepaper // No.8February 2017Airline Industry Trends Download the PDF “Global Airlines Sector: Credit Trends“ The global airlines sector made record profits last year. Long term global population growth and short to medium term oil trends continue to be favourable. Monthly data shows that credit views of individual airlines have changed

Dow Above 20,000 But Banks Increasingly Cautious On Credit Risk
On January 25th, the Dow Jones Industrial Average (the “Dow”) closed above 20,000 for the first time in its history. This milestone has made headlines around the world, and is seen as a vote of confidence in the economic agenda of the new administration. However, bank data shows that the

EU Sovereign Credit Risk Index: Some Divergences, But Improving Trend
The EU Sovereign Credit Risk Index covers all 28 EU member states, including the UK. Greece has made major steps towards reform (see Greece news article) but remains the highest risk EU Sovereign, by a considerable margin. Compared with mid-2016, the latest data shows modest improvements in 11 countries – Ireland, Spain,

Argentina Attracting Foreign Investment And Credit Showing Steady Improvement
Argentina emerged from default last year and its economic indicators are beginning to improve. The economy is still in recession but appears to be finding a base, and inflation, while high (estimated at 17%) is falling. The agriculture sector is now only 10% of GDP, but is growing; and Construction

Trump Stance On IMF And EU May Undermine Positive Credit Outlook For Greece
In 2016, the Greek debt crisis was largely overshadowed in the media by other international dramas, including the U.K. Brexit vote and the U.S. election. Nevertheless, during this period banks were increasingly optimistic regarding the country’s credit progress – following the release of EU funds in December 2015, the banks