DTCC subsidiaries awarded highest ratings
Three core subsidiaries of the Depository Trust and Clearing Corporation (DTCC) have been assigned Moody’s Investor Services highest issuer ratings.
The Depository Trust Company (DTC), National Securities Clearing Corporation (NSCC) and Fixed Income Clearing Corporation (FICC), received Aaa long-term and prime-1 short-term issuer ratings.
“DTCC has long been committed to protecting the stability and integrity of global financial markets, and these ratings are an acknowledgement of the robust risk management and financial controls that we have implemented across the organization,” said Michael Bodson, CEO of DTCC.
In its recent announcement, Moody’s cited “DTCC’s subsidiaries’ dominant and entrenched positions in post-trade services as well as their robust default management framework.”
Moody’s also cited the handling of the Lehman collapse as a “proxy for their operational and risk management resilience” with processes that protected other members and the firms themselves from loss during that event.
The Depository Trust Company (DTC), National Securities Clearing Corporation (NSCC) and Fixed Income Clearing Corporation (FICC), received Aaa long-term and prime-1 short-term issuer ratings.
“DTCC has long been committed to protecting the stability and integrity of global financial markets, and these ratings are an acknowledgement of the robust risk management and financial controls that we have implemented across the organization,” said Michael Bodson, CEO of DTCC.
In its recent announcement, Moody’s cited “DTCC’s subsidiaries’ dominant and entrenched positions in post-trade services as well as their robust default management framework.”
Moody’s also cited the handling of the Lehman collapse as a “proxy for their operational and risk management resilience” with processes that protected other members and the firms themselves from loss during that event.
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