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A comparison of the legal regulation and position of rating agencies in the CR, EU and the USA
Kejř, Kamil ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
The aim of the thesisis an analysis of EU credit rating agencies legal regulation in comparison with regulation in the USA. This analysis outlines the crucial and less important aspects of regulation in EU and USA. One of Chapters of this study is also describing the reflection of EU credit rating agencies regulation to Czech law. The thesis is composed of five chapters. First of them explains basic context and position of credit rating agencies. Chapter two is focused on EU legislation. Chapter Three briefly describes the position of credit rating agencies in the Czech Republic. Chapter Four illustrates the credit rating agencies legal regulation in USA. The text is mainly focused on Two of the EU regulations and, regarding the US legislation, on the Credit Rating Agency Reform Act, part of the Dodd - Frank Act and some of the more important rules conducted by Security Exchange Commission. The comparison of both legal systems is placed in Chapter Five and completed with commentary.
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Current changes in the Czech insurance market and their reflection in the rating
Kloudová, Šárka ; Daňhel, Jaroslav (advisor) ; Hanzlík, Karel (referee)
This thesis deals with changes in the Czech insurance market, especially in view of the consequences of the financial crisis, which caused a lot of changes. In this part of thesis is analyzed the price war, anti-discrimination directives and other important events. The following section is devoted to rating and both generally - term rating, description, rating process and rating of selected insurance companies. Specifically Česká pojišťovna a.s. and ČSOB pojišťovna a.s. and its changes over time. Then attention is focused on the development of regulation of rating agencies and the end of the work is devoted to future prognosis of the life and non-life insurance.
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Developement of cretit rating in the debt crises - the situation of Italy
Kašička, Jan ; Blahová, Naděžda (advisor) ; Brada, Jaroslav (referee)
The thesis is primarily focused on the methodology of credit rating and characteristic aspects of each of the evaluated areas. The knowledge acquired in the first part are then applied in the second part to the situation of Italy during the debt crisis. The thesis is aimed to the developement of sovereign rating of the country. Whitin selected topic I am focused on the evaluation criteria and I poin out the qualitative and quantitative characteristics of this process. Sub-goal of the thesis is to determine the role of rating agencies in the developement of the global financial crisis, which caused the recession and was gradually transformed into a debt crisis.
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The Role of Credit Rating Agencies in Financial Crisis
Halíř, Jan ; Kovanda, Lukáš (advisor) ; Babin, Jan (referee)
The topic of this work is role of rating agencies in financial crisis. It differentiates consumer and corporate credit rating agencies. It shows the system of their work and failures and it's impact to the scenario of crisis. The work before and during the mortgage crisis and following financial crisis in USA. It summarizes the impact of securitization a structuralization to crisis, problems of FICO score and it's using. On the other hand It shows other interferences (mostly governmental). It shows that these interferences had bigger and direct influence on the crisis than regulated doing of rating agencies. Considering indisputable influence of credit rating agencies on the crisis and it's possible prolonging, I must claim that CRa's can't be blamed as the main cause of the crisis, but only as an amplifying factor.
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Rating of the Czech insurance companies
Kloudová, Šárka ; Daňhel, Jaroslav (advisor)
This bachelor work deals with the term rating from the general point of view, next above all with the rating of the insurance companies and its usage for the insurance market subjects. In the introduction there is an explanation of the term rating together with its characteristics. The specification of the activities of the rating agencies and the description of the rating process belongs also into this part of the work. Next there are analyses of the benefits of the insurance companies coming up from the given rating. Afterwards the attention is focused on two concrete insurance companies -- ČSOB a.s. and Česká pojišťovna a.s. - and their rating is evaluated and analyzed during last 5 years. The last part is aimed to the problem of the rating agencies in connection with the financial crisis and on their regulation.
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Vybrané problémy úvěrového rizika
Kiršbaum, Jan ; Korbel, Jiří (advisor)
Jádrem této práce je popis ratingu jako klíčového nástroje řízení rizik. Ukazuje, že rating je zejména v poslední době velmi vyhledávaným v oblasti investování. Podrobně se věnuje charakteristice ratingu, druhům ratingů, historii ratingových agentur, jejich regulaci v rámci evropského a amerického kontinentu a nemalá část je také věnována nově přijatému konceptu BASEL II , na základě kterého budou muset banky počítat svou kapitálovou přiměřenost podle ratingu subjektů nebo emisí.
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Credit Rating
Karas, Vladimír ; Marinič, Pavel (advisor)
Charakteristika ratingu. Dělení a druhy ratingu (rating emise × rating emitenta; dlouhodobý rating × krátkodobý rating; mezinárodní rating × lokální rating). Obecné požadavky kladené na rating. Proces tvorby ratingu. Vyžádaný rating. Nevyžádaný rating. Ratingový proces na bázi volně přístupných informací. Uplatňované ratingové systémy. Ratingová kriteria. Využití a interpretace ratingové známky. Funkce ratingu. Rating v souvislosti s BASEL II. Rating v souvislosti s hospodářskými krizemi.
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