FSB issues peer review on ‘uneven' progress to end credit ratings reliance
National authorities must develop new ways to measure creditworthiness
The Financial Stability Board (FSB) today warned of the risk of countries replacing their "mechanistic reliance" on credit rating agencies (CRAs) "with mechanistic reliance on a very limited number of alternative measures", in a peer review of the actions FSB members are taking to reduce reliance on credit rating agencies.
The report assesses member-country progress along a roadmap agreed in October 2012, based on a set of ‘principles for reducing reliance on CRA ratings' drawn up by the FSB in
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