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S&P Capital IQ and SNL, a business unit of McGraw Hill Financial (NYSE:MHFI) and a leading provider of research, analytics and data, and Deutsche Bundesbank - together with the Eurosystem Procurement Coordination Office (EPCO) - have signed a four-year agreement for the delivery of Standard & Poor’s Ratings Services’ credit ratings and research.
The agreement allows the central banks of the European System of Central Banks (ESCB) as members of EPCO to access a wide range of issuer credit data through S&P Capital IQ’s RatingsDirect and Xpressfeed tools, as well as through several other market data vendors.
Moreover, the agreement provides all participating central banks with the ability to share information in centralised databases - such as the ECB’s Centralised Securities Database –thereby emphasizing credit risk analysis efficiency within and across the banks. The central banks also have the opportunity to obtain access to financial fundamentals and other market data, analytics and research through S&P Capital IQ’s web-based platform.
Most banks use Standard & Poor’s data and research in their credit risk assessment processes, and risk management, market operations, financial stability and supervisory functions. Also, as a recognised external credit assessment institution (ECAI), Standard & Poor’s’ credit ratings and research can be used by national central banks for their submission of eligible assets to the European Central Bank in exchange for credit and liquidity.
“Our combined company has been a long time partner within the European regulatory system and we are excited to expand the relationships of both SPCIQ and SNL Financial across the wider ESCB community. This agreement highlights the importance of Standard & Poor’s credit ratings and research among central bankers, both for the insights they provide as well as the transparency they help enable,” said Mike Chinn, President of S&P Capital IQ and SNL. “With this initiative, S&P Capital IQ and SNL seeks to support the European central banks in their shared tasks by making our product offering accessible to them in a centralized way, with the aim of contributing to an overall more integrated and seamless credit analysis process.”
S&P Capital IQ’s RatingsDirect® is the official desktop source for Standard & Poor’s credit ratings and research. Combined with additional market intelligence and risk indicators, it delivers what clients need for efficient credit analysis and alpha discovery.
Xpressfeed is S&P Capital IQ’s powerful data feed management solution. It capitalises on the combined strengths of S&P Capital IQ and select third-party vendors to deliver financial and non-financial data to help clients enhance their proprietary analytics, financial portals, CRM systems and more.
