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Insights

December 1, 2021

Bank Codes, end of their useful life?

A Bank Code is intended to be an affordability assessment to determine the client’s ability to repay their short-term financial obligations. It is therefore used to determine whether a customer is considered an acceptable risk for a bank for a specified amount borrowed over a specified period.

Moody's publication
Anchor Point research
Moody's publication
November 15, 2021

SA Credit Outlook Q4 2021

Our credit analysis team have put together a fact-based Credit Risk outlook for South Africa covering the economy, business and consumer confidence, political stability, and a sectoral update.

Moody's publication
Anchor Point research
Moody's publication

IFRS16 – Why it is important to understand the impact on your business.

IFRS16 is the relatively new accounting standard that removes the distinction between an operating lease and a finance lease. As of 1 January 2019, companies are required to recognise their operating (i.e. off-balance sheet) leases on-balance sheet by raising a lease liability against a right of control use asset (RoUA). The lessee will exchange a lease expense for interest on the lease liabil...

Moody's publication
Anchor Point article 
Moody's publication
September 2, 2021

Does your organisation meet the BCBS239 principles?

The Basel Committee for Banking Supervision (BCBS) is the committee of global banking supervisory authorities that frames guidelines and standards on key supervisory issues. It promotes regular cooperation, enhances understanding and improves the quality of banking supervision worldwide.

Moody's publication
Anchor Point article 
Moody's publication
May 27, 2021

Market Outlook - It’s Not Stagflation

The U.S. is not currently experiencing stagflation, and it’s not going to over the next couple of years. The debate about stagflation is going to intensify over the next few months as growth in consumer prices continues to accelerate. However, there are a ton of temporary factors behind the acceleration and recent gains in the CP Iare concentrated in the most volatile components. This is likely...

Moody's publication
Moody's research 
Moody's publication
April 15, 2021

Record-High Systemic Leverage Limits Upside for Benchmark Interest Rates

The secular decline by Treasury bond yields since 1982 has been accompanied by a secular climb in the ratio of private and public non financial-sector debt to GDP. Basically, as benchmark interest rates have declined to help maintain a satisfactory pace for business activity, the private and public sectors have assumed more debt relative to underlying expenditures. Furthermore, as indebtedness inc

Moody's publication
Moody's research 
Moody's publication
April 8, 2021

Will Excessive Stimulus Lead to Excessive Leverage?

High yield bond issuance and newly rated loans from high-yield issuers have soared thus far in 2021. Layers of fiscal stimulus on top of monetary stimulus have boosted risk tolerance. The most stimulus since WWII mightyet drive private-sector leverage up to heights that significantly increase long-term debt repayment risk. Could it be that today’s endless stimulus does more to increase defau...

Moody's publication
Moody's research 
Moody's publication
February 18, 2021

Credit Markets Review and Outlook - Core Profits and U.S. Equities Set New Record Highs

Not only has the market value of U.S. common stock set a new record high, so have the core pretax profits of U.S. corporations. Third-quarter 2020’s core pretax profits were much greater than anticipated. Rather than incur a widely expected year-to-year decline, core pretax profits managed to grow by 3.3% from a year earlier in the third quarter to a new record high.

Moody's publication
Moody's research 
Moody's publication
January 21, 2021

Credit Markets Review and Outlook - Not all debt is equal

Capital structure matters. All else the same, credit quality benefits—or default risk is lower than otherwise—the longer is the term to maturity of outstanding debt. Longer maturities reduce the risk that the borrower may not be able to fund the principal payment once the obligation matures. Today’s historically low bond yields have increased the attractiveness of locking up access to financial ca

Moody's publication
Moody's research 
Moody's publication

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August 16, 2021

Cross-Sector Market Data Highlights

The latest market data from Weekly Market Outlook.

Moody's publication
Moody's data report
Moody's publication
August 16, 2021

Nigeria's reduced remittances will worsen foreign-currency shortages

On 6 January, Central Bank of Nigeria (CBN) data indicated that monthly total direct remittances from Nigerians based abroad fell to their lowest level in three years in September 2020. The decline is credit negative for Nigerian banks because it reduces their already limited foreign currency, strains their foreign-currency liquidity buffers and raises funding costs.Remittances fell by 88% betw...

Moody's publication
Moody's research 
Moody's publication
August 16, 2021

Brazil's consumer indebtedness rises to record levels in 2020, a credit negative for banks

On 6 January, Brazil's Confederação Nacional do Comércio de Bens, Serviços e Turismo (CNC), the confederation of commerce, released survey results showing that consumer indebtedness reached record levels in 2020. The rise in household debt is credit negative for banks with significant unsecured consumer lending exposure, such as Banco do Brasil S.A. (Ba2/(P)Ba2 stable, ba21), Banco BradescoS.A. (B

Moody's publication
Moody's research 
Moody's publication
August 16, 2021

Market Data Highlights

Analyses from Moody’s Capital Markets Research, Inc. (CMR) focus on explaining signals from the credit and equity markets. The publications address whether market signals, in the opinion of the group’s analysts,accurately reflect the risks and investment opportunities associated with issuers and sectors. CMR research thus complements the fundamentally-oriented research offered by Moody’s Invest...

Moody's publication
Moody's data report
Moody's publication
August 16, 2021

Credit Markets Review and Outlook - Core Profits and U.S. Equities Set New Record Highs

Not only has the market value of U.S. common stock set a new record high, so have the core pretax profits of U.S. corporations. Third-quarter 2020’s core pretax profits were much greater than anticipated. Rather than incur a widely expected year-to-year decline, core pretax profits managed to grow by 3.3% from a year earlier in the third quarter to a new record high. Read this and more in the Ful

Moody's publication
Moody's research 
Moody's publication
August 16, 2021

Coronavirus and the Economy: Alternative Data Monitor

The unfolding second wave of the pandemic threatens the fragile economic recovery across G-20 economies. Improvement in financial conditions has stalled in the euro area, and is slowing in emerging markets.

Moody's publication
Moody's research 
Moody's publication
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