Sunday, November 20, 2011

credit business vs rates business

YH,

You asked about credit business vs rates business. Here's a simple difference --

A bank's credit department are interested in and monitors individual bond issuers including corporations and municipalities.

Interest rate department are interested in national economies. The issuers in this contexts are national governments, with the ultimate power to print money. Usually these issuers have no credit default risk.

Now is special time. I feel Greece doesn't t have the power to print money which is euro, but the European Central Bank feels reluctant to print money for Greece.

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New York (Time Square), NY, United States
http://www.linkedin.com/in/tanbin