Download the latest Financial Counterpart Monitor below.
The Financial Counterpart Monitor from Credit Benchmark provides a unique analysis of the changing creditworthiness of financial institutions.
It has been a negative month for the credit quality of Global Financial Counterparts categories, with some exceptions.
Banks
This month Globally Systemically Important Banks (GSIBs), North American Banks and Central Banks stand out with the strongest biases towards credit deterioration, with improving to deteriorating ratios of 1:3.3, 1:2.9 and 1:2.2 respectively. Conversely, EMEA Banks have the strongest showing, with an improving to deteriorating ratio of 1.6:1.
Intermediaries
Central Clearing Counterparts (CCPs) stand out with the strongest bias towards credit deterioration, with an improving to deteriorating ratio of 1:3. Custodians and Sub Custodians follow close behind with a 1:2 improvements to deteriorations ratio. CCP Members are the lone net positive performer this month, with 1.1:1 improvements to deteriorations.
Buy Side
Asset Managers and Pension Funds show a bias towards credit deterioration, both with an improving to deteriorating ratio of 1:1.5. Sovereign Wealth Funds leads with an improving to deteriorating ratio of 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.
