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Corporate Governance in ContextCorporations, States, and Markets in Europe, Japan, and the US$
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Klaus J. Hopt, Eddy Wymeersch, Hideki Kanda, and Harald Baum

Print publication date: 2005

Print ISBN-13: 9780199290703

Published to Oxford Scholarship Online: March 2012

DOI: 10.1093/acprof:oso/9780199290703.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 01 April 2020

Using Basel II to Facilitate Access to Finance: The Disclosure of Internal Credit Ratings

Using Basel II to Facilitate Access to Finance: The Disclosure of Internal Credit Ratings

Chapter:
(p.511) Using Basel II to Facilitate Access to Finance: The Disclosure of Internal Credit Ratings
Source:
Corporate Governance in Context
Author(s):

Gérard Hertig

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199290703.003.0026

This chapter argues that it is possible to design a regulatory framework under which the benefits of mandatory rating disclosure clearly outweigh its costs, which in turn should minimize interest group opposition to the externalisation of banks' private information. The chapter is structured as follows. Section II provides an overview of the internal rating approach under the Basel II agreement. Section III discusses the inconsistency risk as well as the specific costs and benefits of mandating the disclosure of internal ratings. Section IV sketches a simple regulatory framework under which this private information could be efficiently externalised with minimal interest-group opposition.

Keywords:   Basel II, credit ratings, internal ratings, regulatory framework, mandatory disclosure, corporate governance

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