ESG Relevance Score and Longer-term refinancing operations: Difference between pages

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''Credit ratings - ESG - Fitch Ratings.''
(LTRO).


(ESG.RS)
Longer-term refinancing operations by the European Central Bank (ECB) through member national central banks (NCBs) with eligible monetary institutions are liquidity-providing reverse transactions that are regularly conducted with a monthly frequency and a maturity of three months. These transactions are 'long-term' in relation to those under its main refinancing operations (MROs or MRO) that have a maturity of one week.


ESG Relevance Scores - issued by Fitch Ratings - identify the relevance and materiality of environmental, social and governance elements to credit rating decisions.
Longer-term refinancing operations may also be conducted at irregular intervals or with other maturities, e.g. the length of one maintenance period, six months, twelve months or thirty-six months are also possible.  




The highest ESG.RS score is 5.
The ECB also has a programme of targeted longer-term refinancing operations (T-LTROs or TLTROs) intended to stimulate certain types of lending by banks.


This indicates that a factor is unambiguously causing a change to a current rating level.
These targeted operations have aimed to stimulate, for example:


*Banks' total private-sector loans outstanding
*The flow of such lending.


The lowest ESG.RS score is 1.


A score of 1 means a factor is currently irrelevant - both to the issuer and the sector - from a credit perspective.
==See also==
 
* [[Central bank]]
 
* [[European Central Bank]]
== See also ==
* [[Inflation target]]
* [[Corporate governance]]
* [[Main refinancing operations]]
* [[Credit rating]]
* [[Monetary policy]]
* [[Credit rating agency]]
* [[Open market operations]]
* [[Credit risk]]
* [[Corporate social responsibility]]
* [[Environmental concerns]]
*[[ESG]]
* [[ESG Credit Impact Scores]]
* [[ESG investment]]
* [[ESG Issuer Profile Scores]]
* [[ESG ratings]]
* [[ESG stock]]
* [[ESG Vulnerability Score]]
* [[Fitch]]
* [[Green]]
* [[Green Finance Initiative]]
* [[Issuer]]
* [[Social concerns]]
* [[Sustainability]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:The_business_context]]
[[Category:Corporate_finance]]
[[Category:Corporate_finance]]
[[Category:Investment]]
[[Category:Investment]]
[[Category:Long_term_funding]]
[[Category:Identify_and_assess_risks]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]
[[Category:Cash_management]]
[[Category:Financial_products_and_markets]]
[[Category:Liquidity_management]]

Revision as of 05:53, 23 January 2022

(LTRO).

Longer-term refinancing operations by the European Central Bank (ECB) through member national central banks (NCBs) with eligible monetary institutions are liquidity-providing reverse transactions that are regularly conducted with a monthly frequency and a maturity of three months. These transactions are 'long-term' in relation to those under its main refinancing operations (MROs or MRO) that have a maturity of one week.

Longer-term refinancing operations may also be conducted at irregular intervals or with other maturities, e.g. the length of one maintenance period, six months, twelve months or thirty-six months are also possible.


The ECB also has a programme of targeted longer-term refinancing operations (T-LTROs or TLTROs) intended to stimulate certain types of lending by banks.

These targeted operations have aimed to stimulate, for example:

  • Banks' total private-sector loans outstanding
  • The flow of such lending.


See also

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